Jairam Ramesh, India's environment minister, will make a decision in the next week that could define the future of the country: whether to approve a $12 billion South Korean-owned steel plant, the largest potential foreign direct investment ever on the subcontinent. The plant, proposed by South Korea's Posco, has been in the works for years. It already has been cleared by the environment ministry, which Mr. Ramesh runs, and endorsed by...
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India Microcredit Faces Collapse From Defaults by Lydia Polgreen and Vikas Bajaj
India’s rapidly growing private microcredit industry faces imminent collapse as almost all borrowers in one of India’s largest states have stopped repaying their loans, egged on by politicians who accuse the industry of earning outsize profits on the backs of the poor. The crisis has been building for weeks, but has now reached a critical stage. Indian banks, which put up about 80 percent of the money that the companies...
More »Hunger alarm by TK Rajalakshmi
The Global Hunger Index report paints a gloomy picture of South Asia and Sub-Saharan Africa. WITH the deadline for achieving the Millennium Development Goals just five years away, the 2010 Global Hunger Index report prepared by the International Food Policy Research Institute (IFPRI) paints a gloomy picture of South Asia and Sub-Saharan Africa. Some 29 countries in these regions, it says, have levels of hunger that are alarming or extremely alarming....
More »TMC seeks discussion on land acquisition bill
In a bid to stall the contentious Land Acquisition (Amendment) Bill, the Trinamool Congress has demanded a detailed discussion in the Lok Sabha before the legislation and the accompanying Resettlement and Rehabilitation Bill are taken up for consideration in the winter session. The Trinamool Congress, which has expressed major reservations on the Land Acquisition (Amendment) Bill, put forward this demand at a meeting of Lok Sabha Business Advisory Committee (BAC) on...
More »Noted economist L C Jain dead
Noted Gandhian and economist L C Jain passed away on Sunday afternoon at the age of 85 after a courageous battle against cancer. L C Jain — organizer, commentator, activist — was born in 1925, the child of India's first freedom movement. He spent more than six decades of his life as an impassioned crusader for what Gandhi called India's second freedom struggle. Jain was known as a fierce opponent of...
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