The microcredit revolution has been celebrated for helping poor women in developing countries start small businesses. By borrowing money for purchases such as a buffalo or sewing machine, the women were able to help lift their families out of poverty. But critics say the microcredit model has been perverted by commercial greed in India, with reports of abusive collection methods and sky-high interest rates. "What began as a simple, innovative model...

Vice-President M Hamid Ansari today said it is "anomalous" that over 250 million Indians were chronically undernourished although the nation has achieved self-sufficiency in foodgrain production. "This is anomalous looking at record food grain production in recent years," Ansari said quoting Food and Agriculture Organisation reports while delivering the convocation address at the Orissa University of Agriculture and Technology (OUAT) here. Stating that the country has achieved self sufficiency in food grain...

Last month, leaders from 185 countries met in New York to take stock of progress in achieving the Millennium Development Goals (MDGs) — which include, among other things, eradicating poverty and hunger, reducing child mortality, improving maternal health — that were set in 2000 by the United Nations. The aim was to achieve these goals by 2015. But 10 years down the line, the world is way behind targets in achieving...

The Punjab Government Thursday requested the Reserve Bank of India that it should impress upon Public Sector banks to aggressively promote Agricultural Debt Swap scheme to free the farmers from the clutches of moneylenders. The Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal raised this issue when Dr. D. Subbarao, Governor, RBI today called on him. The Deputy Chief Minister impressed upon the Governor that the Punjab farmers reeling under Rs....

In ten years, the living conditions of the poor have been improving—but not necessarily because of the UN’s goals EVEN at 70, Jiyem, an Indonesian grandmother, gets up in the small hours to cook and collect firewood for her impoverished household. Her three-year-old grandson is malnourished. Nobody in her family has ever finished primary school. Her ramshackle house lacks electricity; the toilet is a hole in the ground; the family...