Almost a year after the state government promised to impose stringent laws to arrest the exploitation of farmers at the hands of Private moneylenders, the rate of borrowing has gone up to 36-40% in the state. The laws remain on paper as the government has failed to put in place any regulatory body that could take action against the Private moneylenders in the state. Highly-placed sources in the government said, “The...

Regulation in India's microfinance sector aims to address feckless borrowing and reckless lending – but will the new restrictions entrench poverty, rather than end it? One of the many crushing burdens for India's poor bear is debt; unable to make ends meet, they turn to traditional moneylenders. They are willing to extend credit, but at unconscionably high rates – sometimes exceeding 80%, and keeping borrowers in lifelong penury. Popular cinema and...

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...

The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

Since the beginning of December last, 220 tenant farmers in the state have committed suicide or died of shock, crushed by mounting debts and loss of crops. Overall, the farmer death toll stands at a staggering 350-400. Though the fickle weather wreaked havoc, experts believe it's only partly to blame as several other factors have worked against the farming community. While economic expansion continues to bypass the farming community leaving...