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Rotten agents spoil the Kashmir apple barrel-Ahmed Ali Fayyaz

-The Hindu A NABARD survey says middlemen funded by banks have kept growers captive to high-interest loans Jammu: Kashmir's acres of undulating apple orchards may soon be waste lands, a survey by the National Bank for Agriculture and Rural Development (NABARD) accessed by The Hindu shows. The Rs. 4,000-crore industry has been brought to its knees by a network of middle-order market functionaries comprising pre-harvest contractors (PHCs), commission agents (CAs) and wholesalers...

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The Case for Direct Cash Transfers to the Poor-Arvind Subramanian, Devesh Kapur and Partha Mukhopadhyay

The total expenditure on central schemes for the poor and on the major subsidies exceeds the states' share of central taxes. These schemes are chronic bad performers due to a culture of immunity in public administration and weakened local governments. Arguing that the poor should be trusted to use these resources better than the state, a radical redirection with substantial direct transfers to individuals and complementary decentralisation to local governments...

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Complex system of patronage, corruption blunts India’s efforts to help the poor out of poverty-Minhaz Merchant

-The Economic Times The Rae Bareli seat in Uttar Pradesh has been a Gandhi family bastion since 1967 when Indira Gandhi first stood for election from there. Sonia Gandhi adopted the constituency in 2004 and was re-elected with a huge majority in 2009. It should, therefore, be one of India's most developed districts. Right? Wrong. The Hunger and Malnutrition, or HUNGaMA, survey, released by the Prime Minister earlier this year, was...

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No cap on MFI interest rates by Shishir Arya

Amidst hue and cry over micro-finance institutions (MFIs) charging the rural poor exorbitant interest rates, Reserve Bank of India norms continue to allow these entities a free hand in determining their charges. The banks lending to MFIs too continue to have full discretion in fixing their rate of interest. RBI has issued a latest master circular reiterating its earlier stand on micro-credit on February 14. Master circulars are like ready-reckoners on...

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Of margins and the marginalised by Jayati Ghosh

The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...

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