US growth revised up; India's salvation lies at home; India's war on its women

1 US growth revised up (BBC) The US economy grew at an annualised pace of 2.5% in the second quarter of the year, the Commerce Department said in revised figures. That was more than double the pace recorded in the previous three months, and above estimates of 2.2%. The rise, helped by an increase in exports, is a further sign that the economy may be getting back on track. The government had originally estimated that GDP grew at a 1.7% rate in the second quarter.

Housing and business investment, two key sectors of the economy, remained strong in the revised figures. Housing construction grew at an annual rate of 12.9%, the fourth consecutive quarter of double-digit growth. Meanwhile, business investment was revised up to a 16.1% rate. The positive news could make US central bank economists more likely to begin reducing monthly bond purchases later this year. The programme is one of the US's last stimulus measures.

2 India’s salvation lies at home (Abheek Bhattacharya in The Wall Street Journal) Plunging currencies and stock markets in some of the world's major developing nations can't be chalked up to the Federal Reserve or hot money flows alone. One big problem is the fundamental state of these economies. Take India, the worst-hit emerging market. The rupee is down about 20% against the dollar this year, making it the world's worst-performing major currency.

Certainly, talk of the Fed slowing down its bond purchases triggered the rupee's rout in late May. But the trouble is policy makers haven't addressed deeper difficulties. Growth has nearly halved from five years ago because policy makers delayed reforms. These include changing colonial-era land acquisition laws and socialist-era labor laws. The lack of reform especially hurts investment in much-needed infrastructure, which in the year ended March grew at half the average rate since 1991. India can only blame the Fed so much. It holds most of the answers to its troubles.

3 India’s war on its women (Sunny Hundal in The Guardian) It is undeniable that a mix of culture and religion perpetuates fixed views about how Indian women should behave, though Hinduism has seen waves of reform movements over centuries that have challenged orthodox beliefs and helped improve the status of women. But while religion is open to interpretation, it is also indisputable that cultural and religious practices are used as justification to control women under the guise of ‘honour’ and ‘purity’. The model of a pure and traditional Sita who is willing to fulfil her role as a daughter and wife still looms large.

From the moment they have children, Indian parents worry so much about ‘losing face’ in the community that while boys have all the freedom they want, girls are advised to avoid doing anything that would supposedly bring shame. It also means that when they disobey, women can end up paying a terrible price.