The Uttar Pradesh government is expected to soon announce the price at which mills in the state will have to buy sugarcane from farmers. Having received a record Rs 260 per quintal for sugarcane last season, farmers are insisting on a similar payout this season. The figure will be keenly watched because high raw material costs can substantially reduce profitability of companies in a season of bumper sugar production and low...
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The ugly underbelly of Microfinance by Roli Srivastava, Swati Bharadwaj-Chand & Partha Sinha
SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...
More »Labour disputes rock Detroit of India
The city has come to be known as the Detroit of India for its large concentration of automakers, but a series of labour disputes have rocked it, putting a question mark over industrial peace. Car markers such as Hyundai Motor India, German luxury car maker BMW and Ford Motor India besides Finnish handset manufacturer Nokia India have set up their plants on the city outskirts employing more than 23,000 people. As...
More »Centre to step in Rajasthan MNREGS wage row by K Balchand
‘Under no circumstances the labourers should be paid less than the wage rate' Angry workers returned the Re.1-wages to the government on October 2 Rural Development Ministry considering possibility of paying bonus to workers The Centre has decided to direct the Rajasthan government to pay the admissible wage rate under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) to those workers of Tonk district who were paid a mere pittance of Re....
More »Come up with Food Security Bill at the earliest: BJP
Describing the Food Security Bill as a "non-starter", the BJP today said food should be viewed as a fundamental right and the government should come up with the legislation in this regard at the earliest. The party also said the government should take measures for revamping of the public distribution system. Food security was one of the major agenda of the UPA government in 2009 but the bill is yet to see...
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