The Union government's efforts to provide quick and quality insurance services to 38 lakh rural landless agricultural labourers in the state under the Aam Aadmi Bima Yojana (AABY) have suffered a serious setback with the Life Insurance Corporation of India (LIC) refusing to renew the scheme. The LIC's decision has not only resulted in hardships not only to the Poor Households over the past six months but also to the children...
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UN study highlights the immense economic and social value of ecosystems
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...
More »NAC focus back on job scheme, asks rural ministry for details by Ruhi Tewari
Along with the proposed food security legislation and the communal violence Bill that have been its focus until now, the reconstituted National Advisory Council (NAC) is beginning to focus again on the government’s marquee rural job guarantee scheme as well. The ministry of rural development has been told to make a presentation on the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to a working group of the NAC on Friday,...
More »What the UID conceals by R Ramakumar
The UID project has both ‘security' and ‘developmental' dimensions. The former leads to an invasive state; the latter leaves us with a retreating state. Is identity the “missing link” in India's efforts to rise as an “inclusive” economic superpower? Can an identity-linked and technology-based solution change the face of governance in India? Given the euphoria around the Unique Identification (UID) project, one is tempted to believe so. However, a careful look...
More »MFI interest rate on loans likely to be capped at around 24 pc by Mashusudan Sahoo and George Mathew
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...
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