Mahitosh Sarkar came here from his distant village in West Bengal 12 years ago looking for a better life, and he found it. He abandoned the penniless existence of a subsistence fisherman to become a big-city vegetable seller. His wife found work as a maid. Their four children went to school. Their tiny household, a grim but weather-tight room in a dilapidated tenement, had a color TV and a satellite...

The country’s economic growth is expected to remain strong despite sluggishness in the manufacturing sector as a rebound in agricultural output is expected to support overall growth. Growth in the key farm sector, which accounts for nearly 17% of the nation’s GDP, has been a concern for policymakers for the past few quarters. But, healthy monsoon has raised expectations of strong farm output during July-September 2010. In addition, the arrival of...

Sitting on a huge debt burden of close to Rs 2 lakh crore, West Bengal government's finances are the worst among five highly-indebted states in the country, a noted economist attached with the Indian Statistical Institute here has said. "Revenue deficit of the state is the highest among the five highly-indebted states of UP, Maharashtra, West Bengal, Andhra Pradesh and Gujarat," Abhirup Sarkar, the economist, told PTI. He said that for the...

The SKS IPO and the Andhra Pradesh ordinance have suddenly changed everything. Will it be the death knell or will it usher in a reformed and healthy industry? There are three basic facts about micro-finance in India. First, most of what is described as micro-finance industry is actually micro-loans. There is hardly any provision of micro-savings, micro-investments, micro-insurance or micro-pensions. This is mostly because of regulatory reasons, i.e. accepting money...

Chief minister Arjun Munda is all set to revive the Jharkhand State Planning Board — first formed during his second innings as head of state — to assist his government in drawing up development plans based on scientific assessment of available resources. The move comes close on the heels of the government setting up a three-member panel, headed by noted economist Bibek Debroy, to prepare the state’s development report. Speaking to The...