Tight liquidity continues; rise in bank rates likely for such lending. The Andhra Pradesh government will take some time to reply in the high court to the petitions filed against the Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Ordinance, issued last month. The Microfinance Institutions Network (MFIN), SKS Micro Finance and Spandana Sphoorty Financial have filed petitions saying the ordinance threatens to disrupt their business. The government sought an extension after...
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Highlights of the Employment-Unemployment Survey 2009-10 conducted by Labour Bureau
Labour Bureau has been conducting quick quarterly employment surveys in the selected sectors of the economy at the enterprise level to assess the impact of economic slowdown on employment in India. With a view to study the overall employment-unemployment situation in the country, Labour Bureau has now conducted its first national level household survey in 28 States/UT Except five North Eastern States and the Islands of Lakshadweep and the Andaman...
More »Five myths about microfinance by TT Ram Mohan
The microfinance bubble has burst. The AP government ordinance, the AP oppositionfs campaign asking borrowers not to repay and the sheer public hostility towards MFIs . all these have put the brakes on MFI activities for now. We need to rethink the role of MFIs in the rural economy . In order to do so, we must first grasp some of the myths on which the MFI sector has rested...
More »Jobless rate in India pegged at 9.4%
The unemployment rate in the labour force was estimated to be 9.4 per cent during the 2009-10 financial year, a government survey has said. The Indian jobless rate was till now arrived at strictly by guesswork. According to the first national level household survey conducted by the Labour Bureau, out of 1,000 employed persons, 455 were employed in agriculture, forestry and fisheries group during this period. The survey was conducted with a view...
More »Goa tops unemployment list in India by Amitav Ranjan
The first-ever annual employment survey by the Labour Bureau under the Union Ministry of Labour points to a “jobless economic growth” last fiscal year. During the bureau’s survey period 2009-10 — also the year in which India’s gross domestic product grew by 7.4 per cent — unemployment was 9.4 per cent. The National Sample Survey Organisation, using its Consumer Expenditure Survey for 2007-08, had painted a rosy unemployment figure of 2.8...
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