Noted Gandhian and economist L C Jain passed away on Sunday afternoon at the age of 85 after a courageous battle against cancer. L C Jain — organizer, commentator, activist — was born in 1925, the child of India's first freedom movement. He spent more than six decades of his life as an impassioned crusader for what Gandhi called India's second freedom struggle. Jain was known as a fierce opponent of...

The poster boy of microfinance is now seeking some anonymity. In Andhra Pradesh, the epicentre of the worst crisis faced by microfinance in India, SKS Microfinance is playing down its identity and going into preservation mode. At its modest office in a residential colony in Warangal district, India’s largest microfinance company has taken down its board. At its head office in upmarket Begumpet in Hyderabad, it hung a cloth mesh...

After nearly two decades of debate, governments from around the world today agreed to a new United Nations treaty on managing the planet’s wealth of genetic resources – from animals to plants to fungi – more fairly and systematically. The decision came on the last day of the two-week conference of parties to the UN Convention on Biological Diversity (CBD) in Nagoya, Japan. The new pact, which is a protocol to the...

The microcredit revolution has been celebrated for helping poor women in developing countries start small businesses. By borrowing money for purchases such as a buffalo or sewing machine, the women were able to help lift their families out of poverty. But critics say the microcredit model has been perverted by commercial greed in India, with reports of abusive collection methods and sky-high interest rates. "What began as a simple, innovative model...

While the Sonia Gandhi-led National Advisory Council's proposal on enhanced food security hinges on higher procurement and increased reliance on the public distribution system, there is a strong view in the government that overworking a creaking system is a bad idea. In a paper circulated within the government, chief economic adviser to the finance ministry Kaushik Basu has argued that what is needed for food security to work is a reduced...