TARN TARAN, India—India's northern state of Punjab was once a symbol of the nation's economic progress, its advances in agriculture lauded world-wide as a spectacular feat that made India self-sufficient in food production. But Punjab today faces a grave economic crisis, the result of years of shoddy governance that have stunted growth and created such a mound of public debt that the state is now seeking a multibillion dollar bailout from...

Compensation for land for BMIC hiked to Rs. 40 lakh an acre Following widespread protests and demands by farmers for higher compensation for land acquired for the controversial Bangalore-Mysore Infrastructure Corridor (BMIC) project, the State Cabinet on Thursday decided to increase the compensation paid for 1,916 acres acquired in three villages by the Nandi Infrastructure Corridor Enterprise (NICE), which is executing the expressway project. Land in Gonipura and Thippur located near...

An annual meeting of Asian finance ministers and central bank governors in Hanoi is set to address the fate of 64 million people in the region on the brink of extreme poverty. They are the worst affected by soaring food prices, which have hit record highs in the first two months of this year. "The issue of food price inflation and food security will indeed be one of the key topics...

A LEAFY VILLAGE in Kerala, Pathanpara, never found access to India’s electricity grid. That is why for the last several years, this village has been generating its own electricity. Raju, a dhoti-clad cashew nut farmer, operates Pathanpara’s five kilowatt (KW) micro hydropower plant. He lives in the village and earns a salary of Rs 2,250, paid by the People’s Electricity Committee (PEC). The power generated is shared equally by the village,...

The government is examining the possibility of turning its two important social sector programmes into universal schemes covering the unorganised sector in phases, taking a cue from the successful extension of a health insurance plan to 23 million poor families. The labour ministry will prepare a feasibility plan together with the rural and finance ministries that run the old age pension scheme for the below poverty line people and the Aam...