Global business abhors uncertainty. The ministerial-level corruption in UPA-II has slowed FDI and FII inflows. The stock market, despite double-digit corporate profit and 8.6% GDP growth, reflects the anxiety of Indian and foreign investors. To take India's growth story forward in the 20th year of economic reforms, political reforms must catch up. Misgovernance won't do in a globalised, interconnected world. Two kinds of political corruption blight India: episodical and ongoing. Episodical...

Nobel laureate Muhammad Yunus has been removed as the managing director of Grameen Bank, the organisation he founded in Bangladesh in 1983 to help the poor. The central bank has cited a rule that requires retirement at 60 to order the ouster of the 70-year-old “banker to the poor” who has been embroiled in a Norwegian funds scandal. Yunus had also fallen out with the political establishment after, fresh from the Nobel...

Buoyed by the imminent scrapping of Reliance Industries-promoted Mumbai special economic zone, aggrieved farmers and activists are now gunning for seven other proposed SEZs in Maharashtra. Anti-SEZ groups will soon agitate to demand denotification of the fertile land earmarked for projects in the Konkan, western Maharashtra, Marathwada and Vidarbha. The activists got a shot in the arm on Friday when their four-year struggle forced the government to denotify 16,900 acres of land...

After Congress chief Sonia Gandhi mooted a five-point plan at the recent AICC plenary session to put in place a system to confront corruption, the Centre is considering an ordinance to tighten the anti-corruption regime against politicians. The Congress core group on Friday discussed the possibility of the new law which would tighten the rules to punish corrupt politicians and counter the popular belief that the system was created to benefit...

Confusion continues to reign in the debate on microfinance that has unfolded following the promulgation of the Andhra ordinance, soon to be replaced by Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2010. A key confusion has been that microfinance is a major instrument of poverty alleviation. Going by the available scientific evidence and agreement among scholars, to-date, there exists no compelling study linking the expansion of microfinance to...