Even four years after the Sachar Committee Report revealed that Muslims were one of the most economically backward and socially disadvantaged communities, nothing much has been done to address the development deficits of this community. The Constitution of the republic of free India was crafted in troubled but idealistic times. The Indian people were still reeling from Partition bloodshed and the assassination of Mahatma Gandhi, in the dark shadows of politics...

There was in fact a successful auction of spectrum — only it was not conducted by the government but by its corporate sector cronies who made a fortune on the deal. On one pronouncement of his, you have to agree with Prime Minister Manmohan Singh. His is not a ‘lame-duck government.' Cooked goose seems the more appropriate soubriquet. However, not a single new scam worth over Rs. 1 lakh crore has...

Non availability of timely credit has been a major drawback for the agricultural sector of India. In a country which relies mostly on agriculture, constant endeavors are needed to see that rural and agricultural credit facilities are enhanced with time. As a part of these efforts, agricultural credit cards got introduced in the agricultural lending system. Similarly cash credit facility was also being offered by many Banks. However, a major shortfall...

The government put out a promised new price index on Friday that will capture changes in prices of goods and services sold at the retail level, helping the government and the central bank get a better grip on policy tools while tackling inflation. Central Banks world over rely on retail prices while framing monetary policy, but the Reserve Bank of India has had to consider mostly the wholesale price index...

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...