Close on the heels of the recent controversy surrounding over the microfinance institutions, Karnataka government has decided to foray into the micro finance business with an initial corpus of Rs 500 crore. With this, Karnataka will join the league of Andhra Pradesh to have its own state-funded microfinance institution. The government plans to lend at the rate of 4 per cent interest per annum to unorganised sector workers. “There are about 3.5...

Frequent and unrelenting protests against land acquisition seem to have compelled political parties to take the issue seriously. The Centre has promised to introduce a redrafted land acquisition Bill during the winter session of Parliament. As per official pronouncements, the Bill will provide for higher compensation to the affected parties. Besides, acquisition for private companies will be restricted to less than 30% of the total land required for the project. However,...

BJP is screaming hoarse about corruption in the UPA and demanding telecom minister A Raja's scalp for alleged misdeeds related to 2G spectrum allotment. But in Karnataka, where the party is in power, more skeletons are tumbling out of the scam-scarred B S Yeddyurappa government's cupboard. The latest to come to light had the chief minister allot land to his sons' company. In the first of the three cases, about which...

The Cabinet on Wednesday decided to restore the tribal land allegedly encroached by a windmill company at Attappady in Palakkad district. Those who fabricated documents for facilitating the encroachment would be prosecuted. The Cabinet also decided to institute a comprehensive Vigilance inquiry into the alleged involvement of officials of various departments in the alienation of the tribal land. Briefing the media on the Cabinet decisions, Chief Minister V.S. Achuthanandan said the inquiry...

The latest Human Development Report, or HDR, (2010), marking its 20th anniversary, is both remarkable and useful. Remarkable because it brims with intellectual confidence, born out of a sense of vindication over the “conceptual brilliance and continued relevance” of Mahbub ul-Huq’s original human development paradigm set out in the first sentence of the 1990 report — “People are the real wealth of nations.” The idea of human development, which, through...