To promote self-employment among people living below poverty line (BPL), particularly women, the rural development ministry proposes to set up a dedicated national bank for women self-help groups (SHGs) and also lower the interest rate on the credit they receive from any nationalized bank. Rural development minister Jairam Ramesh on Monday said he will soon take up both these proposals with the finance ministry. “We have proposed a detailed paper for a...

-The Business Standard   For a country whose cuisine uses so much edible oil, India’s dependence on imported cooking oil is as economically debilitating as its dependence on imported energy. Barring a short spell in the late eighties, when the country was nearly self-sufficient in edible oil production, the bulk of the cooking oil needs have been met through imports for decades. Even today, domestic oilseed production does not meet even...

A host of steel-manufacturing units are keen to set up plants in Karnataka, and all want captive mines. SOUTH KOREA'S Posco is not the only steel-maker keen to do business in Karnataka. The State's estimated 9,000 million tonnes of good-quality iron ore reserves, which is the second largest in India, the State government's assurances on a smooth land acquisition process, the availability of water and the promise of speedy regulatory clearances...

In contrast to the 1990s, when age-old matters of identity drove electoral politics, it appears that development-related issues such as land acquisition and law and order will play a critical role in the contentious campaign for the UP elections due next year. While this can be attributed to the BSP’s “sarvajan” agenda, it also signals the impact of the market economy and the need to attract private investment, which has...

Batting for a Posco steel plant in Gadag, chief minister B S Yeddyurappa says the government will try to persuade farmers to part with their land. The situation does not warrant the South Korean steelmaker to relocate from Halligudi in Gadag district to anywhere rlse in the state. "The government is trying to convince the farmers; the company stays in Gadag. We hope that everything will go well,'' he told...