Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

-The Economist   The world’s population will reach 7 billion at the end of October. Don’t panic IN 1950 the whole population of the earth—2.5 billion—could have squeezed, shoulder to shoulder, onto the Isle of Wight, a 381-square-kilometre rock off southern England. By 1968 John Brunner, a British novelist, observed that the earth’s people—by then 3.5 billion—would have required the Isle of Man, 572 square kilometres in the Irish Sea, for its standing...

In planning, pursuit of profit was not seen as being in the social interest in the post-Independence years, but now profit is the sole motive. FOR two decades now the Government of India has pursued a policy of accelerated liberalisation, dismantling controls, diluting regulations and making the state a facilitator of private investment. It is not that the presence of the state has diminished during this period, but that its role...

The Supreme Court on Thursday ordered private hospitals functioning on public land to make good their promise to treat the poor for free. This decision is intended to change the belief that “health care is given only to those who can afford it”. The bench of Justices R V Raveendran and A K Patnaik passed a short order after a detailed hearing in which lawyers representing several private hospitals tried to...

Hypertension and diabetes seem to be rampant in two of India's most modern metropolises, Bangalore and Chennai. Union health minister Ghulam Nabi Azad said under his department's programme to test people for the twin diseases, 14% and 21% were found to be suffering from diabetes and high blood pressure, respectively, in Banglaore. In Chennai, out of 3 lakhs tested, 50,000 were found to be diabetic and another 60,000 hypertensive. Azad described the...