The finance ministry is all set to increase the agriculture lending target by around 25% in the budget for 2012-13 despite a sharp increase in the non-performing loans in the sector. In the last budget, the government had increased the target to 4.75 lakh crore from 3.75 lakh crore in the year before. "Banks will continue to focus on all priority sector areas. This year more focus will be on direct lending...
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Small loans add up to lethal debts by Erika Kinetz
-AP The microfinance industry pursued a path of rapid business growth in recent years; two investigations now link it to debtor suicides First they were stripped of their utensils, furniture, mobile phones, television sets, ration cards and heirloom gold jewellery. Then, some of them drank pesticide. One woman threw herself into a pond. Another jumped into a well with her children. Sometimes, the debt collectors watched nearby. More than 200 poor, debt-ridden residents of...
More »Dr Abhijit Sen, Member-Planning Commission of India, interviewed by Ajay Vir Jakhar and Paranjoy Guha Thakurta
Dr Abhijit Sen is Member, Planning Commission of India. He is a Ph.D. in Economics from the University of Cambridge (currently on leave as Professor of Economics at the Jawaharlal Nehru University) and has also taught at the Universities of Sussex, Oxford and Cambridge. Besides serving various think tanks in the states and at the centre, Dr Sen has been a consultant with UNDP, ILO, FAO and various other multilateral...
More »Poor labourers pledged Rs 100, get Re 1 for day's work under govt's employment guarantee scheme by Nitin Sethi
Poor workers are being paid wages as low as Rs 1-10 for a hard day's labour in states like Rajasthan and Karnataka under the Mahatma Gandhi National Rural Employment Guarantee Scheme which promises a real wage of Rs 100 per day. Documents with TOI show that many desperate, poor labourers across the country are being cheated of their hard earned money and the much publicized guaranteed daily wage of Rs 100...
More »Who’s afraid of Aadhar? by Pratap Bhanu Mehta
Indian public policy often short-circuits because there are too many crossed wires: one agency trying to do another’s work, and arguments being invoked in contexts in which they are inappropriate. There has been much speculation about the Ministry of Home Affairs’ objections to Aadhar in its current form. But it will be a travesty if the project of identification is moved from its current service delivery-oriented paradigm to a security-oriented...
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