A generally beleaguered microfinance industry was eagerly waiting for Yezdi Malegam for deliverance. Any conversation about the microfinance business would end with the expectation that the Malegam committee would deliver a healthy dose of oxygen to the choking microfinance industry. The report was expected to be the panacea for all that ails microfinance in India. The report, which came out on Monday, disappoints not only in its inability to meet these...

When we hear the word innovation, we often think of new technologies or silver bullet solutions — like hydrogen fuel cells or a cure for cancer. To be sure, breakthroughs are vital: antibiotics and vaccines, for example, transformed global health. But as we’ve argued in Fixes, some of the greatest advances come from taking old ideas or technologies and making them accessible to millions of people who are underserved. One area...

Rajasthan's Jatawali village hosts a debate on census showing how rural India badly needs state help. An old couple in Jatavali village in Choumu tehsil of Jaipur were having an early lunch at noon with their daughter. The man had a roti and a large chunk of crumpled baati (baked wheat balls) and a fairly large bowl of dal. He was making little cakes of baati, dipping them in the dal...

The National Advisory Council's recommendations on the National Food Security Bill are in danger of being brushed aside. It is the fate of most advisory committees that the government accepts whatever advice suits its purposes and ignores the rest. The first version of the National Advisory Council (NAC-1) managed to avoid that fate to some extent, due to favourable circumstances. NAC-1 was able to persuade the government to enact the...

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...