The government has begun discussions with Dalit entrepreneurs on what can be done to promote business ventures set up by members of their community. As a part of its discussions with various groups before it finalizes the 12th Plan for 2012-17, the Planning Commission has sought suggestions from the Dalit Indian Chamber of Commerce and Industry (Dicci), a business group, on what can be done to spur Dalit capitalism, how these...
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Microlenders, Honored With Nobel, Are Struggling by Vikas Bajaj
Microcredit is losing its halo in many developing countries. Microcredit was once extolled by world leaders like Bill Clinton and Tony Blair as a powerful tool that could help eliminate poverty, through loans as small as $50 to cowherds, basket weavers and other poor people for starting or expanding businesses. But now microloans have prompted political hostility in Bangladesh, India, Nicaragua and other developing countries. In December, the prime minister of...
More »A Notional Advisory Council? by Jean Drèze
The National Advisory Council's recommendations on the National Food Security Bill are in danger of being brushed aside. It is the fate of most advisory committees that the government accepts whatever advice suits its purposes and ignores the rest. The first version of the National Advisory Council (NAC-1) managed to avoid that fate to some extent, due to favourable circumstances. NAC-1 was able to persuade the government to enact the...
More »Nabard launches Rs 25,019 cr credit plan for Orissa
In a bid to facilitate agriculture and rural development in the backward state, Nabard today launched a Rs 25,019 crore credit plan for Orissa during 2011-12. The credit plan was launched by state Finance Minister Prafulla Ghadai at the state level credit seminar here. While annual credit plan for the state during the current fiscal is Rs 16,915 crore, it was increased by 48 per cent for 2011-12. While agricultural...
More »NABARD to stream micro credit through grass root groups
The National Bank for Agriculture and Rurual Development (NABARD) will pay greater focus on financing through 'Joint Liability Groups' (JLs) in Kerala as it is found more effective way of priority sector lending. JLs are informal groups of even 4-10 individuals joining together for the purpose of availing bank loans through group mechanisms against mutual guarantee. According to NABARD's State Credit Plan 2011-12, financial inclusion through JLGs would be deepened in partnerships...
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