Given a positive regulatory environment, banks and other financial intermediaries will certainly be interested in using the smart card opportunity. Dr Arvind Virmani, with a Ph.D. from Harvard and 30 years of professional experience, is one of the most valued economists in the Government. Before he retired as Chief Economic Advisor in 2009, he had served in the Finance Ministry and the Planning Commission. A researcher par excellence, his research papers...

Rising from ashes, Bihar is India's new phoenix. Recently it impressed the World Bank resulting in an aid worth several hundred crores for development of the state. And it has a number of lessons for neighbouring UP. In 2002-03, when census data was notified, UP fared better than Bihar. But, now the tortoise (read Bihar) has metamorphosed to hare, leaving UP behind. Consider figures from the National Rural Health Mission. Number...

After the sanctioning of education loans, the public and private sector commercial bankers have shown almost no interest in sanctioning farm loans this year. The farmers in Madhya Pradesh continue to face financial strain and have stayed away from bankers. But the bankers consider last year’s debt waiver scheme being responsible for the low agri credit flow. While state-owned cooperative bankers moved ahead in sanctioning and disbursing priority sector advances, private...

Guess what hogs the news? In a country plagued by rural problems and social ills, it's politics and business that find the maximum coverage in newspapers and not health, education, agriculture or environment. A comprehensive study of 10 newspapers in five states from mid-September to mid- November 2010 by The Hoot, a media monitor, found that political news constituted the maximum - 15.7 percent of the total news items, followed by...

The Union Environment Ministry plans to review its compensatory afforestation scheme next month, with Minister Jairam Ramesh saying he is “horrified” by reports on the implementation of the scheme in some States. The Compensatory Afforestation Fund Management and Planning Authority, better known as CAMPA, has over Rs. 11,000 crore, including accrued interest. The money, which had been lying in CAMPA's Bank Accounts since 2002, was finally released for partial distribution to...