India ranks 13th in the residential sector in terms of price rise for the fiscal 2009-10. Property consultancy firm Knight Frank, surveyed over 47 countries, and found that more than half (53 percent) had witnessed price increase in the residential segment. China topped this list. According to Knight Frank Head of Residential Research Liam Bailey, “Growth has been driven by a confluence of factors: low interest rates, first-time buyer concessions, strong population growth and a lagging supply response. However, with interest rates now rising, the government withdrawing stimulus and the supply response picking up, we expect house price growth to slow over the next six to nine months.”

India recorded a growth of 8.4 percent in 2009-10 when compared to the previous year. China topped the list with a growth of 68 percent. Bailey added that, “A recovery in the global housing market is undoubtedly underway. In Q1 2009, 33 per cent of the countries recorded positive annual growth. In Q1 2010, this figure was closer to 53 per cent but still some way off the figure of 90 per cent recorded in Q1 2006.”

Next to China, Hong Kong took the place with 30.6 percent growth, followed by Singapore (24.3 percent), Australia (20 percent) and Israel (15.9 percent). Asia-Pacific region saw the strongest growth, with prices increasing by 17.8 percent on an average. China, Hong Kong and Singapore registered an annual growth over 24 percent. The countries which saw a drop in price by more than 30 percent were Lithuania, Ukraine and Estonia.

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For long India has been wary of its rising population. The population has always been seen as a burden on the already limited resources of the country. Economists always believed that the such a huge population can only be bad for the well being of the economy.

Surprisingly though, the tables seem to have turned. It seems that the large population that India was so embarrassed about has been the largest factor in the economic development of the country. The large population means that the country has more consumers and a larger workforce – all of which contributes to the country’s ever growing GDP.

It is only due to our large population that we have more workers to work in both the industries and the goods and services sectors. Of course, the demand and pressure on resources remains high but then even the returns are high. When the balance between the two is seen, it tips in the favor of growth.

This indeed is good news for India, as what we felt was a liability is in fact a strength.

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Poverty in India is a cause for concern even after 62 years of Independence. Poverty indicates a condition in which a person fails to maintain a living standard adequate for his physical and mental efficiency. India has the world’s largest number of poor people. Of its nearly 1 billion inhabitants, an estimated 260.3 million are below the poverty line, of which 193.2 million are in the rural areas and 67.1 million are in urban areas. More than 75% of poor people reside in villages. Poverty level is not uniform across India. The poverty level is below 10 percent in states like Delhi, Goa, and Punjab etc whereas it is below 50 percent in Bihar (43) and Orissa (47). It is between 30-40 percent in Northeastern states of Assam, Tripura, and Mehgalaya and in Southern states of Tamil Nadu and Uttar Pradesh. Some of the reasons of poverty in India are unequal distribution of income, high population growth, illiteracy, large families, caste system, poor employment opportunities in rural areas and migration of rural population to cities, which further worsens the condition.

Since majority of rural area depends on agriculture (which is highly dependant on rain patterns) inadequate rain fall and improper irrigation facilities can cause low or no production of crops which leads to severe poverty among rural population. Rural poverty is majorly due to unemployment and low productivity. Urban poverty is due to migration of people from rural areas to cities in search of jobs, slow job growth and increasing population. Though the Government has taken steps and initiated number of programs to bring down the poverty level, it has not reached to all sectors. It’s imperative that private organizations should also pitch in to help the Government to eradicate poverty levels in India.

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World’s worst food crisis of all times occurred in 1943, in the state of Bengal. The ‘Bengal Famine’ in British-India claimed over four million lives on the account of acute food shortage and mismanagement. Post-independence, among other most important priorities for India, was self-sufficiency in food. After a long period of sustained efforts from 1947 through 1967, India began witnessing its ‘Green Revolution’ fructifying.

India achieved self-sufficiency in food, produced a record 131 million tonnes of food grains in 1978-79, and became a net exporter of agricultural produce. Among the visible results of ‘Green Revolution,’ were increase in agricultural land under high-yield variety seeds (HYV) and a jump of over 30% in the yield per unit of farmland.

However, the latest findings by Credit Suisse in its report ‘Asian Food and Rural Income’ warns that India today stands on the brink of losing its much cherished self-sufficiency in food. Demand for food is likely to grow at a rate of 3-3.5% p.a. over the coming years, driven by population growth. The increase in the domestic food supply is at a much lower rate that leaves India open to the need to import food to meet its domestic demand.

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World’s worst food crisis of all times occurred in 1943, in the state of Bengal. The ‘Bengal Famine’ in British-India claimed over four million lives on the account of acute food shortage and mismanagement. Post-independence, among other most important priorities for India, was self-sufficiency in food. After a long period of sustained efforts from 1947 through 1967, India began witnessing its ‘Green Revolution’ fructifying.

India achieved self-sufficiency in food, produced a record 131 million tonnes of food grains in 1978-79, and became a net exporter of agricultural produce. Among the visible results of ‘Green Revolution,’ were increase in agricultural land under high-yield variety seeds (HYV) and a jump of over 30% in the yield per unit of farmland.

However, the latest findings by Credit Suisse in its report ‘Asian Food and Rural Income’ warns that India today stands on the brink of losing its much cherished self-sufficiency in food. Demand for food is likely to grow at a rate of 3-3.5% p.a. over the coming years, driven by population growth. The increase in the domestic food supply is at a much lower rate that leaves India open to the need to import food to meet its domestic demand.

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