A generally beleaguered microfinance industry was eagerly waiting for Yezdi Malegam for deliverance. Any conversation about the microfinance business would end with the expectation that the Malegam committee would deliver a healthy dose of oxygen to the choking microfinance industry. The report was expected to be the panacea for all that ails microfinance in India. The report, which came out on Monday, disappoints not only in its inability to meet these...

The past several months have seen much tumult. From the Commonwealth Games (CWG) to 2G, with garnishing from the Adarsh housing cooperative and the loan fraud, all have provided high octane fodder to Indian politics and the media. However, since the last week of December 2010, another element has intruded into the political/media space, and that is the rising prices of vegetables. Vegetable prices show a seasonal variation, with prices dropping...

When we hear the word innovation, we often think of new technologies or silver bullet solutions — like hydrogen fuel cells or a cure for cancer. To be sure, breakthroughs are vital: antibiotics and vaccines, for example, transformed global health. But as we’ve argued in Fixes, some of the greatest advances come from taking old ideas or technologies and making them accessible to millions of people who are underserved. One area...

India's environment ministry has ordered the demolition of a block of flats in Mumbai that has been at the centre of a corruption scandal. It said the Adarsh Society building must be demolished within three months for breaching coastal protection laws. The 31-storey high-rise was originally planned as a six-storey housing project for war widows. But flats were sold to politicians and military officers, allegedly at prices far below the market rate. The block,...

Taking forward the pro-poor schemes of Y.S. Rajasekhara Reddy, Chief Minister N. Kiran Kumar Reddy announced in style his New Year gift: a housing scheme for the urban poor. With a proposed budget of Rs.5,000 crore, the project, ‘Rajiv Awaas Yojna', will ensure pucca houses to the poor in every slum across the State. Announcing the scheme amid much fanfare during a surprise visit to a slum in the city's outskirts, the...