Contractors complete the work by employing some other labourers and using machines An inquiry into the lathi-charge on protesting farmers in Koppal has brought to light the nexus between contractors and labourers. The inquiry conducted by the Koppal taluk panchayat executive officer in all the five gram panchayats - Boodagumpa, Irkalgad, Hasgal, Indargi and Madinur - has revealed that the labourers who staged the protest had not registered themselves seeking jobs under...
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Dr Arvind Virmani, Affiliate Professor (& Distinguished Senior Fellow), George Mason University (School of Public Policy-CEMP), and Executive Director, IMF interviewed by TCA Srinivasa-Raghavan
Given a positive regulatory environment, banks and other financial intermediaries will certainly be interested in using the smart card opportunity. Dr Arvind Virmani, with a Ph.D. from Harvard and 30 years of professional experience, is one of the most valued economists in the Government. Before he retired as Chief Economic Advisor in 2009, he had served in the Finance Ministry and the Planning Commission. A researcher par excellence, his research papers...
More »Govt approves Rs 5,000 cr working capital loan for FCI
The government on Tuesday approved a short-term loan of Rs 5,000 crore for Food Corporation of India (FCI), which will help the organisation meet its working capital requirements this fiscal. The proposal was cleared in the meeting of the Cabinet Committee on Economic Affairs (CCEA) held here. "The CCEA today approved a short-term loan of Rs 5,000 crore to the FCI for 2010-11," an official statement said. FCI, the nodal agency for...
More »Dismal MP agri credit growth bankers show least interest by Shashikant Trivedi
After the sanctioning of education loans, the public and private sector commercial bankers have shown almost no interest in sanctioning farm loans this year. The farmers in Madhya Pradesh continue to face financial strain and have stayed away from bankers. But the bankers consider last year’s debt waiver scheme being responsible for the low agri credit flow. While state-owned cooperative bankers moved ahead in sanctioning and disbursing priority sector advances, private...
More »Experts warn Africa must learn from India's microfinance problems by Teo Kermeliotis
It has been lauded as one of the most promising ways of using the market to reduce poverty and boost economies in some of the world's most deprived areas. But in recent months the work of microfinance institutions (MFIs), which provide small loans to poor people with no access to traditional banking services, has come under scrutiny after a spate of suicides in the Indian province of Andhra Pradesh was linked...
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