India’s microfinance institutions (MFIs), under pressure because of stricter rules in their largest market Andhra Pradesh and the consequent slump in repayments there, may get a boost from the Asian Development Bank (ADB). ADB is constituting a $250 million (around Rs1,135 crore) facility to offer guarantees against loans to MFIs extended by banks in the Asia-Pacific region where it operates, including India. The move is aimed at encouraging banks to lend...
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Analysis: MGNREGA is a perfect tribute to Mahatma Gandhi by Madhusudan Mistry
The Mahatma Gandhi National Rural Employment Guarantee Act — or MGNREGA as it is commonly known — has completed five years. Since its inception, I remember how joyous I was while becoming part of the process of its being passed in the Lok Sabha. In fact, we were restless for the delay in the presenting of the standing committee's report. I felt it took too long a time in deliberating...
More »Tracking Nilekani by Latha Jishnu
If the Unique Identity project is such a good thing why is the man heading it unable to answer simple questions about it? Since the publication of his doorstopper of a book Imagining India in 2009, Nandan Nilekani has done a superb job of reinventing himself. The former head of software giant Infosys Technologies was overnight cast in the role of a Visionary with his unabashedly free market prescription to turn...
More »Increase sought in budgetary allocation for tribals
The Adivasi Adhikar Rashtriya Manch (AARM) has urged Union Finance Minister Pranab Mukherjee to ensure that the allocation for the Tribal Sub Plan (TSP) in this year’s budget is increased to 8.4 per cent, in keeping with the strength of the tribals in the country. They stressed that the shortfall on this account was over Rs 27,000 crores in the last two years. Members of the AARM, which works among tribal...
More »Poverty without Borders by Andrea Lunt
It's the land of freedom, of bright lights and burgers, where daring entrepreneurs arrive from across the planet in search of fame and fortune. The United States of America - the world's melting pot - has been a symbol of hope for centuries, but behind this Vision of wealth and wonder is a tale often untold. Food security, lack of water rights and unemployment might sound like the type of problems...
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