The Centre and states may vie to take credit for the MNREGS, but when it comes to footing the Bill for the job guarantee scheme, the story is different. Asking the Centre to notify new, revised wage rates “at the earliest” is, inteRestingly, a Congress-ruled state—Rajasthan. It also happens to be the home state of minister for rural development C P Joshi. Rajasthan principal secretary CS Rajan last week sent a letter...
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Microfinance to get a regulator in NABARD by Deepshikha Sikarwar
A worried government has put on fast track the proposed bill to regulate micro-lenders, as it seeks to ensure that over-regulation by states does not kill the sector that is envisaged to play a big role in furthering financial inclusion. The finance ministry could move a bill in the winter session of Parliament that will make Nabard responsible for regulation of all non-profit microfinance institutions structured as trusts, cooperatives, or mutual...
More »Coal mining in Meghalaya: Child labourers in the ‘rat-holes’ by Anjuman Ara Begum
“Inside the mine everything is very fragile. Even the falling of a small rock can cause death sometimes. People from outside cannot imagine what the hell is inside the mine!” These are the words of 16-year old Muzzammal Haque who works in a coal mine in the Jaintia Hills, Meghalaya. He is yet another example of the bonded child labour in the various coal mines in the Jaintia Hills on...
More »Ending The Kerala Model by Apoorva Shah
In 1957, the Communist Party of Kerala became the first democratically elected communist government in Asia. While many in the West feared that this election would help communism spread across South Asia and make Kerala the "Yan'an of India", the Keralite communists' actions were checked by Jawaharlal Nehru and the Congress party's control of the federal coffers. Instead, from within the political bounds of India's divided government, Kerala initiated what has...
More »Centre plans to Restrict inteRest rate of MFIs
The Centre is planning to impose a ceiling of 18 per cent on the inteRest rate charged by MFIs on loans to SHGs. This was indicated by Union Finance Minister Pranab Mukherjee to Chief Minister K. Rosaiah during a telephonic conversation recently. Disclosing this at a media conference here on Monday, Minister for Rural Development V. Vasanth Kumar and Minister for Agriculture N. Raghuveera Reddy said Mr. Mukherjee informed that the...
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