The Planning Commission, headed by the prime minister, has filed an affidavit in the Supreme Court quantifying the daily poverty line for an adult as Rs 26 in rural, and Rs 32 in urban India. At today’s relentlessly increasing prices, Rs 26 will not get a manual worker even one nutritious meal a day — leave alone the 2,400 calories he is required to eat to enable him to work,...

This wedding season, anxious grooms from Parsa and Ghatburra, two villages in Chhattisgarh's Surguja district, were offered financial assistance from an unlikely source. Adani Mining Pvt Ltd, a subsidiary of Adani Enterprises Ltd, was handing out loans to all those who could prove that the money would be spent on marriage arrangements. “A company official took us to the bank, opened accounts in our names, and gave us cheques for Rs....

-DNA   The Centre's debt relief scheme for the farmers has given anything but relief to the poor farmers. Despite the Rs 65,318.33-crore Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS) launched by the UPA with much fanfare in 2008, nearly 43.42 million (48.6 per cent) of the 89.35 million farmer households are still in debt. This is the finding of National Sample Survey Organisation (NSSO) report on 'Indebtedness of Farmers Household'. The scheme benefited...

In an attempt to extend the reach of banks in rural and semi-urban areas, the finance ministry has asked public sector banks to integrate their operations with regional rural banks (RRBs). "Charges for various banking services used by customers of RRBs are to be aligned with the sponsoring banks," a finance ministry official said on condition of anonymity. "Further, cheques or drafts issued by RRBs should be treated at par...

In an attempt to bolster its aam aadmi image, the government is setting up the Aajeevika Development and Financial Corporation, a financial institution to ensure easily available funding for self-help groups under the National Rural Livelihood Mission. Problems in accessing credit for families below poverty line have been a major hurdle for the livelihood mission. The rural development ministry is in the process of inter-ministerial consultations on the proposed financial...