Yaga Venugopal Reddy , former Reserve Bank of India governor credited with saving the nation’s financial system from the 2008 meltdown, has said what many finance experts believed, but did not have the courage to admit publicly: microfinance is India’s subprime. “Ultimately, it’s something like subprime lending,” Mr Reddy told ET in an interview ahead of his book release. “The same incentives are operating here... it was securitisation and derivatives that...
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82% of rural India deprived of basic needs by Chetan Chauhan
Three basic necessities of life — tapped drinking water, electricity connection and sanitation — together are not available to 82% of rural Indian households, a government survey has revealed. The three elements were key in the defining of India's new poverty line earlier this year by the Suresh Tendulkar committee, which said that 46% of rural Indians were poor. The poverty line was based on National Sample Survey Organisation report of...
More »BPL families in Karnataka get only 20-kg grain by Pratap Patnaik
The below poverty line (BPL) and Antodaya Anna Yojana (AAY) families in Karantaka get only 20 kg instead of the scheduled 35 kg of food grain every month due to paucity of supply by the Centre, the Supreme Court has been told. Out of about 5.28-crore population in Karnataka, 25 per cent, numbering 1.38 crore people averaging 37 per cent nationally, belong to below poverty line (BPL) and get benefits of...
More »India: The fight for disabled children's right to education by Andrew Chambers
Frustrated by the government's attitude to disability, an advocacy movement has sprung up in Madhya Pradesh, central India, fighting for the universal right of all children to attend school 'What are friends for? You listen for us and we'll see for you." The black-and-white photograph beneath the words shows a smiling boy with his arm around his partially sighted classmate. It encapsulates the inclusive education ideal – all children of all...
More »On the cards, a Human Development Report for MMR
The MMRDA is in the process of signing an MoU with the Regional Centre for Urban & Environmental Studies (RCUES) to prepare a Human Development Report on the Mumbai Metropolitan Region (MMR). United Nations Development Programme has also agreed to be associated with the report. The scope of work for the RCUES would be introducing geography of MMR, demographics, economic dimensions, health, education, housing and shelter, quality of life and environment....
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