Will UPA-II's ambitious food security programme work? The issue gains immediacy, with the National Advisory Council unveiling a new draft plan envisaging legal entitlement to subsidised foodgrain for at least 75 per cent of the population. That works out to almost 800 million people. If implemented, this means the government's food subsidy bill will be far bigger. Also, our groaning public distribution system will come under greater strain. Now, central...

A worried government has put on fast track the proposed bill to regulate micro-lenders, as it seeks to ensure that over-regulation by states does not kill the sector that is envisaged to play a big role in furthering financial inclusion. The finance ministry could move a bill in the winter session of Parliament that will make Nabard responsible for regulation of all non-profit microfinance institutions structured as trusts, cooperatives, or mutual...

The Centre is planning to impose a ceiling of 18 per cent on the interest rate charged by MFIs on loans to SHGs. This was indicated by Union Finance Minister Pranab Mukherjee to Chief Minister K. Rosaiah during a telephonic conversation recently. Disclosing this at a media conference here on Monday, Minister for Rural Development V. Vasanth Kumar and Minister for Agriculture N. Raghuveera Reddy said Mr. Mukherjee informed that the...

The recommendation of the National Advisory Council (NAC), that the proposed food security bill should include 75% of the population, is populist. The measure, if implemented, will entitle nearly 800 million people to some kind of subsidised food. It will drive a big hole in the budget, which finance minister Pranab Mukherjee has tried hard to rebuild after the spending excesses of 2007-09. This is not to say that the poor...

Businesses and policy-makers need to recognize the tremendous economic value of ecosystems, as well as the social and economic costs of losing such natural resources as forests, freshwater, soils and coral reefs, a new United Nations report released today said. The report by the Economics of Ecosystems and Biodiversity (TEEB), a body hosted by the UN Environment Programme (UNEP), seeks to galvanize the world to recognize the economic consequences of failing...