Last week, a group of 40 economists wrote an open letter to United Progressive Alliance (UPA) chairperson Sonia Gandhi arguing for cash transfer as a mode of delivery for the proposed National Food Security Act (NFSA). The letter was carried in detail in several newspapers including Mint. The good thing is that there is now almost a consensus, at least among economists, that whatever be the mode of delivery of subsidy,...
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Independent financial body to beset up to fund self-help groups: Sonia by K Balchand
The Union government will set up an independent financial institution to give funds for effective functioning of the self-help groups (SHGs) and better empowerment of the rural poor. UPA chairperson Sonia Gandhi announced this while launching the National Rural Livelihood Mission (NRLM), which will be funded through financial institutions. As of now, banks will be mobilised to extend loans to the tune of Rs. 6,800 crore this year at subsidised rates...
More »For drafting an ideal Lokpal Bill by Arun Kumar
The success of the institution of Lokpal will depend on limiting its scope to the very top of the hierarchy. That will make it manageable and lead to accountability down the line. The drafting of the Lokpal bill is back in the news after the round of Assembly elections. The co-chairperson of the high-power committee involved in the drafting has said that progress is slow and that the June 30 deadline...
More »Cash Transfers as the Silver Bullet for Poverty Reduction: A Sceptical Note by Jayati Ghosh
The current perception that cash transfers can replace public provision of basic goods and services and become a catch-all solution for poverty reduction is false. Where cash transfers have helped to reduce poverty, they have added to public provision, not replaced it. For crucial items like food, direct provision protects poor consumers from rising prices and is part of a broader strategy to ensure domestic supply. Problems like targeting errors...
More »Taming price rise: Govt panel for FDI in multi-product retail
-The Times of India An inter-ministerial group (IMG) on inflation has recommended allowing foreign direct investment in multi-product retail as one of the two steps to tame rising prices and cut down the margin between farm gate and retail prices. This is the first formal recommendation by a government panel to allow FDI in the tightly policed and sensitive retail sector. "It is time for India to allow foreign direct investment in...
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