Regulation in India's microfinance sector aims to address feckless borrowing and reckless lending – but will the new restrictions entrench poverty, rather than end it? One of the many crushing burdens for India's poor bear is debt; unable to make ends meet, they turn to traditional moneylenders. They are willing to extend credit, but at unconscionably high rates – sometimes exceeding 80%, and keeping borrowers in lifelong penury. Popular cinema and...

If the Unique Identity project is such a good thing why is the man heading it unable to answer simple questions about it? Since the publication of his doorstopper of a book Imagining India in 2009, Nandan Nilekani has done a superb job of reinventing himself. The former head of software giant Infosys Technologies was overnight cast in the role of a visionary with his unabashedly free market prescription to turn...

Prime Minister Manmohan Singh's observation that enforcement of environmental regulatory standards should not lead to a throwback to the days of the licence-permit raj strikes a jarring note in an era of enlightened, science-based conservation. By projecting regulation as a threat to economic development, he has brought needless pressure to bear on the nascent efforts of Minister Jairam Ramesh to bring accountability and transparency to the Ministry of Environment and...

The labour ministry may get about 36% more money under planned allocation in the Budget for the year starting 1 April to expand welfare programmes such as health insurance for the poor. “We are getting Rs. 1,300 crore under planned allocation in the coming Budget,” labour secretary Prabhat Chaturvedi said. The ministry was allocated Rs. 956 crore under the same Plan in the current year’s budget allocation. The labour ministry will also...

Former Army chief General Deepak Kapoor, now in the dock over the Adarsh housing scam besides a series of other defence land scams, has been denied an honorary doctorate that a Central government-run university wanted to confer on him. A Right to Information (RTI) application filed by The Indian Express has revealed that while the Indira Gandhi National Open University (IGNOU) had submitted a proposal seeking to confer an honorary doctorate...