The government on Tuesday approved a a proposal to draw a loan of $100 million (about Rs 450 crore) from the World Bank to promote microfinance in the country. The Cabinet Committee on Economic Affairs (CCEA) cleared the proposal for on-lending to the Small Industries Development Bank of India (Sidbi), which -- in turn -- would disburse the funds to the microfinance sector. “The fund will be used to promote responsible and...
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Ministries agree to create new regulator by Jacob P Koshy
The ministries of environment and science seem to have resolved their differences over who will govern the entry of genetically modified (GM) crops in India. The controversial genetic engineering approval committee, or GEAC, which currently gives the nod for the commercial release of GM crops, is likely to be integrated with a biotechnology regulator proposed by the science ministry, two ministry officials said on condition of anonymity. This will relegate GEAC, which...
More »Fresh doubts over Govt's stand on Bhopal liability
Did the Indian government guarantee Dow Chemicals, the parent company of Union Carbide, that it will not be held liable for the Bhopal gas tragedy? An RTI response has raised fresh questions over the government's position in the case, as it brought to light a letter written in 2006 by Dow Chemicals CEO Andrew Liveris to the then Indian Ambassador to the US Ronen Sen, claiming that the Indian government...
More »Seed Bill retake by Jyotika Sood
THE Union agriculture ministry will redraft the seed Bill following complaints by MPs, states and farmer groups. Their main grouse is that the bill, which aims to regulate the quality of seeds, does not monitor their prices, crucial for farmers. The Seed Bill 2010 was approved by the Cabinet in March and was to be tabled in the Rajya Sabha in mid-April. Sources in the ministry said MPs and state government...
More »In Andhra's Nizamabad, all that glitters is turmeric by B Krishna Mohan
Turmeric has reaped gold in Andhra Pradesh's Nizamabad district. Turmeric farmers B Pedolla Chinnaya and Badam Maruthi are celebrating their new prosperity at the local auto dealer. While Mr Chinnaya has plumped for a Hyundai Santro, Mr Maruthi has used his cash bonanza on namesake Maruti Swift. Chinnaya and Maruthi belong to Ergatla village where each has about four acres of land. While Chinnaya has made Rs 9 lakh from 90 quintals...
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