The poster boy of microfinance is now seeking some anonymity. In Andhra Pradesh, the epicentre of the worst crisis faced by microfinance in India, SKS Microfinance is playing down its identity and going into preservation mode. At its modest office in a residential colony in Warangal district, India’s largest microfinance company has taken down its board. At its head office in upmarket Begumpet in Hyderabad, it hung a cloth mesh...
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Developing world warned of 'obesity epidemic'
Developing countries should act now to head off their own "obesity epidemic", says a global policy group. The Organisation for Economic Co-operation and Development (OECD) says obesity levels are rising fast. In a report in the Lancet medical journal, it says low-income countries cannot cope with the health consequences of wide scale obesity. Rates in Brazil and South Africa already outstrip the OECD average. Increasing obesity in industrialised countries such as the UK and...
More »What is wrong with MG-NREGA?
Can we afford to leave MG-NREGA alone? Why is the civil society crying foul? Are the rural activists demanding too much? Is the UPA-II trying to take back what UPA-I gave before the elections? Let us face it, the MG-NREGA is in a big crisis. NAC members like Aruna Roy and Jean Dreze have alleged (See links below) that the present remuneration of rural workers is declining by the day and it...
More »Micro finance, macro objectives by Krishnamurthy V Subramanian
Sample some data on the microfinance performance in India: According to the data provided by www.mixmarket.org, microfinance in India reached close to 270 lakh active borrowers in 2009, with the average loan size close to Rs 8,000. This translates into total borrowing to over Rs 20,000 crore. Though this number seems large, it represents only 0.3% of our GDP. Thus, large swathes of poor, both in our villages and urban...
More »CWG revenue is 80 p.c. less than expected
OC's expenditure overshot its budget by Rs. 638 crore The OC has taken Rs. 2,307.82 crore in loan, well above the originally approved amount M.S. Gill admits that there were no earnings from advertisements as such The Commonwealth Games Organising Committee (OC) has fallen more than 80 per cent short of its revenue target, according to Union Sports Minister M.S. Gill. While the OC was expected to generate Rs. 1,708 crore, it only managed...
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