More than 1.79 crore households across the country have been provided employment under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) this year, the Government said today. As of June 30, a total of 179,43,189 families in the country have been provided employment under MGNREGS , Minister of State for Rural Development Pradeep Jain said in a written reply to a question in Rajya Sabha. According to the sate-wise data presented...
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UPA2: Praful richest and Mamata poorest minister by Nidhi Sharma
The income and asset details furnished by ministers to Prime Minister’s Office for 2009-10 have some surprising claims. Textiles minister Dayanidhi Maran, whose family owns a media empire, is worth just Rs 6.87 crore. His assets include a Mercedes E class valued at Rs 8.10 lakh and a Toyota Innova at Rs 12.24 lakh. He is not the only who has modest assets. Minister of new and renewable energy Farooq Abdullah...
More »Black swan in micro-finance by Ajit Ranade
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...
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The recent crisis in the micro-finance industry, brought about by some incidents in Andhra Pradesh, has led to the development of a new concept in the Indian thinking on development — that of “responsible finance”. Responsible finance is supposed to mean financial activities by companies that make just about enough returns to stay in business and charge rates of interest on loans to the poor that are only marginally higher than what...
More »‘Sangharsh' holds dharna against displacement, land acquisition by Jiby Kattakayam
Activist Medha Patkar addressing a rally in New Delhi on Monday against the land acquisition policy of the UPA government. “Sangharsh,” a collective platform of social movements and people's organisations fighting displacement and forcible land acquisition, began a five-day dharna at Jantar Mantar here on Monday. Representatives of people's movements from Assam to Tamil Nadu participated in the “Sansad Gherao” dharna. Among the struggles highlighted was the Assam-based Krishak Mukti SanGram Samiti's...
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