Close on the heels of the recent controversy surrounding over the microfinance institutions, Karnataka government has decided to foray into the micro finance business with an initial corpus of Rs 500 crore. With this, Karnataka will join the league of Andhra Pradesh to have its own state-funded microfinance institution. The government plans to lend at the rate of 4 per cent interest per annum to unorganised sector workers. “There are about 3.5...
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Illegal financial flows: the great drain robbery by P Sainath
India has lost nearly a half-trillion dollars in illegal financial flows out of the country, says a new study by Global Financial Integrity. India is losing nearly Rs.240 crore every 24 hours, on average, in illegal financial flows out of the country. The nation lost $213 billion (roughly Rs.9.7 lakh crore) in illegal capital flight between 1948 and 2008. However, over $125 billion (Rs.5.7 lakh crore) of that was lost in...
More »P Sainath, rural editor of The Hindu interviewed by Himal South Asia
The amount of rural reportage in the Indian media remains far too low, with even important stories such as those on farmer suicides tending to be ignored. One of the outspoken critics of this trend has been P Sainath, rural-affairs editor of The Hindu and 2007 winner of the Ramon Magsaysay Award for Journalism, Literature and Creative Communication Arts. He was also the journalist who originally broke the story on...
More »Economist Arjun Sengupta cremated
The body of Arjun K. Sengupta, a developmental economist of repute and Rajya Sabha member from West Bengal, was cremated at the Lodhi Crematorium here on Monday. He was 73. Dr. Sengupta, who died on Sunday evening at the All-India Institute of Medical Sciences after a brief illness, is survived by his wife Jayshree and daughter Madhura. Born in Kolkata on June 10, 1937, Dr. Sengupta finished high school at the Mitra...
More »Developmental economist Arjun Sengupta passes away
Arjun Kumar Sengupta, a developmental economist and Member of the Rajya Sabha, passed away on Sunday evening. He was 73 and is survived by his wife Jayshree Sengupta and daughter Madhura Sengupta who teaches in Canada. He has had a multi-faceted career as a academician, economic policy administrator and a Parliamentarian. “I am deeply grieved to learn about the sad demise of Dr Arjun Kumar Sengupta, Member of Parliament. He will...
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