While the Sonia Gandhi-led National Advisory Council's proposal on enhanced food security hinges on higher procurement and increased reliance on the public distribution system, there is a strong view in the government that overworking a creaking system is a bad idea. In a paper circulated within the government, chief economic adviser to the finance ministry Kaushik Basu has argued that what is needed for food security to work is a reduced...

A worried government has put on fast track the proposed bill to regulate micro-lenders, as it seeks to ensure that over-regulation by states does not kill the sector that is envisaged to play a big role in furthering financial inclusion. The finance ministry could move a bill in the winter session of Parliament that will make Nabard responsible for regulation of all non-profit microfinance institutions structured as trusts, cooperatives, or mutual...

The government is divided over allowing foreign direct investment (FDI) in multi-brand and foodgrain retailing. While the MINISTRY OF FINANCE is opposed to any change in the existing retail FDI policy, the Agriculture and Consumer Affairs Ministries, along with the Planning Commission, are open to the proposal mooted by the Ministry of Commerce and Industry. At present, FDI in these areas of retailing is banned. The finance ministry’s position gains significance in...

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...

Seventy-year-old Dau Singh is dancing to the tune of a parody music being belted out in the background by a group of people sitting on the pavement. The song urges people to write letters to their brethren and come there to join the fight. "Come on mazdoors, get into the act to get what you deserve," urges the song. The venue is the Statue Circle in Jaipur, where hundreds of...