One billion people worldwide still live in extreme poverty Agricultural growth remains central to poverty reduction, as one billion people worldwide continue living in extreme poverty, many of them in rural areas, a World Bank Group on agriculture, the Independent Evaluation Group (IEG), said in a report released on Tuesday. Drawing on the World Bank Group's (WBG) experience in supporting agricultural growth in the past decade, the report — Growth and Productivity...

Interest rates on loans from microfinance institutions (MFIs) are likely to be capped at around 24 per cent. Currently, MFIs are charging 26-40 per cent on small loans extended to their rural customers — many of whom are yet to get even a bank account — while urban customers get personal loans at 12 per cent from commercial banks. Though neither the RBI nor the government has fixed any ceiling on...

In an attempt to break the deadlock over the Land Acquisition (Amendment) Bill and the accompanying Resettlement and Rehabilitation Bill, finance minister Pranab Mukherjee has invited Trinamool Congress chief and railway minister Mamata Banerjee for talks on October 25. Ms Banerjee, who has strong reservations over the twin pieces of legislation, is, as per Trinamool Congress sources, unlikely to relent. Ms Banerjee’s stand is that the state should have absolutely no...

With business leaders and the Australian Government finally acknowledging the need to put a price on carbon, climate change is back on the agenda here in Australia and it's also on the agenda this week internationally. Representatives from countries around the world, including Australia, are assembling in Tianjin, China, as part of a crucially important United Nations Climate Change Conference that starts today. After last year's Copenhagen talks nearly collapsed, the...

The new mining legislation will make woman of the house chief beneficiary of the compensation for land acquired for mining project, as the government seeks to ensure the large amounts provided go into ensuring livelihood and are not depleted quickly. This is in sync with the government’s attempt to empower women by giving them a bigger role in financial decision-making. “Women are known to manage the household finances better than their male...