One of the key factors to inclusive growth is financial inclusion for all. Financial inclusion refers to universal access to a wide range of banking solutions and financial services in a fair, predictable and transparent manner at affordable costs. The poor tend to be ignored because the transaction costs in serving them are high. Initiatives that reduce these costs will allow service providers to begin thinking of financial services for...

Central Empowered Committee has recommended cancellation of 49 leases The Karnataka Government has requested the Supreme Court to revoke the suspension of 117 mining leases listed under categories A and B by the Central Empowered Committee (CEC). The Supreme Court-appointed CEC has recommended cancellation of 49 mining leases listed under Category C, where iron ore was being mined illegally. It has recommended resumption of operations in 45 mining leases listed under Category...

Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now.  The proposed amendment, the ministry feels, may not only act as a deterrent, but also put pressure on people to declare their wealth stashed away in Swiss banks and tax havens.  In...

-The Business Standard   Its guarantee of non-duplication can have far-reaching cost benefits but it has deep design flaws that can be compromised. PRAVEEN CHAKRAVARTY Former Volunteer, Financial Inclusion, UIDAI* “Aadhaar is an unadulterated identity programme that answers the question: Is the individual who he or she claims to be?”   The word “unique”, and not “identity”, is central to the unique identity programme or Aadhaar. It may be true that the vast majority of people possess some...

Not only are the Forest Rights Act and the Panchayats Extension to Scheduled Areas Act routinely violated in Chhattisgarh, the adivasis are also short-changed on legislative representation and reservations in government jobs. As the state cedes land to capital while reducing the adivasis to an ornamental presence, there is increasing assertion of adivasi identity, born out of class predicaments and experiences of displacement as much as notions of indigeneity. Supriya Sharma...