Microcredit is losing its halo in many developing countries. Microcredit was once extolled by world leaders like Bill Clinton and Tony Blair as a powerful tool that could help eliminate poverty, through loans as small as $50 to cowherds, basket weavers and other poor people for starting or expanding businesses. But now microloans have prompted political hostility in Bangladesh, India, Nicaragua and other developing countries. In December, the prime minister of...

The Union government recently indexed the wages of workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) to the consumer price index for agricultural labour (CPI-AL). The step, aimed at boosting the purchasing power of workers, came in the midst of a controversy over the government not linking wages under MGNREGS to the minimum wage under the Minimum Wages Act, 1948. The wage hike, ranging from 17-30%, is likely...

In a move that brings relief to the rural workforce, but risks creating an inflation SPIRal, the government on Thursday revised the minimum wages paid for its flagship job guarantee scheme by linking them to the Consumer Price Index for agricultural labour (CPI-AL) for each individual state. Such a price SPIRal, in case it actually emerges, could roil the electoral prospects of the Congress in the key contests to the state...

The headlines in the media, the constant talk of how deep corruption has sunk in our body politic and the nefarious role played by ill-gotten contributions to political parties is a spectre, haunting the public all the time. But why is the government still not persuaded to seriously consider enacting an effectively genuine Lokpal legislation to deal with this menace of corruption? If the draft of the Lokpal Bill 2010 is...

The directorate of education (DoE) has finally decided to crack down on schools flouting the nursery admission rules in the city. Acting on the complaints from parents, the DoE on Wednesday decided to serve notices to errant schools asking them to either rectify their admission criteria or face cancellation of the entire process. The education officials are expected to visit schools from Thursday onwards to keep a check on the...