A generally beleaguered microfinance industry was eagerly waiting for Yezdi Malegam for deliverance. Any conversation about the microfinance business would end with the expectation that the Malegam committee would deliver a healthy dose of oxygen to the choking microfinance industry. The report was expected to be the panacea for all that ails microfinance in India. The report, which came out on Monday, disappoints not only in its inability to meet these...

Since 1947, successive governments have missed innumerable opportunities to put the country on the path of sustained, inclusive growth. Time and again, quixotic ideology has led to meaningless debates, antediluvian policy and inexplicable strangulation of capacity buildup in both physical and social infrastructure. Even today, while the gap between current and projected national demand and supply is well acknowledged, the government continues to drag its feet in creating the policy...

The Communist Party of India (Marxist) has described 2010 as a landmark year in Independent India's history in terms of the number of scams. In an editorial in the People's Democracy, party organ, it drew attention to the several disquieting trends that have emerged as a result. The year stood out as one which saw a serious attack on Parliament and the institutions of parliamentary democracy. Apart from the virtual annulling...

Tamil Nadu: The north-east monsoon, 50 per cent in excess in the State, claims over 200 lives and destroys crops and infrastructure.A SERIES of weather systems, including a cyclone that missed Chennai narrowly, saw the skies open up over Tamil Nadu between November 4 and December 5, the period when the north-east monsoon is most active. Most of the 561 mm of rainfall that the State received between October 1...

Mahitosh Sarkar came here from his distant village in West Bengal 12 years ago looking for a better life, and he found it. He abandoned the penniless existence of a subsistence fisherman to become a big-city vegetable seller. His wife found work as a maid. Their four children went to school. Their tiny household, a grim but weather-tight room in a dilapidated tenement, had a color TV and a satellite...