Microcredit is losing its halo in many developing countries. Microcredit was once extolled by world leaders like Bill Clinton and Tony Blair as a powerful tool that could help eliminate poverty, through loans as small as $50 to cowherds, basket weavers and other poor people for starting or expanding businesses. But now microloans have prompted political hostility in Bangladesh, India, Nicaragua and other developing countries. In December, the prime minister of...
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Why food is costlier by TN Ninan
Twenty years ago, a Maruti 800, with an air-conditioner fitted, cost a little less than Rs 2 lakh. Today it costs about Rs 2.5 lakh. Twenty years ago, a branded 1.5 tonne window air-conditioner cost about Rs 30,000; today, you can get a split AC unit for that price. Then, Videocon was offering large refrigerators for more than Rs 30,000; you can get better units today for much less. TV...
More »Nabard launches Rs 25,019 cr credit plan for Orissa
In a bid to facilitate agriculture and rural development in the backward state, Nabard today launched a Rs 25,019 crore credit plan for Orissa during 2011-12. The credit plan was launched by state Finance Minister Prafulla Ghadai at the state level credit seminar here. While annual credit plan for the state during the current fiscal is Rs 16,915 crore, it was increased by 48 per cent for 2011-12. While agricultural...
More »NABARD to stream micro credit through grass root groups
The National Bank for Agriculture and Rurual Development (NABARD) will pay greater focus on financing through 'Joint Liability Groups' (JLs) in Kerala as it is found more effective way of priority sector lending. JLs are informal groups of even 4-10 individuals joining together for the purpose of availing bank loans through group mechanisms against mutual guarantee. According to NABARD's State Credit Plan 2011-12, financial inclusion through JLGs would be deepened in partnerships...
More »Retail inaction: Govt's apathy is hurting both farmers & consumers
Since 1947, successive governments have missed innumerable opportunities to put the country on the path of sustained, inclusive growth. Time and again, quixotic ideology has led to meaningless debates, antediluvian policy and inexplicable strangulation of capacity buildup in both physical and social infrastructure. Even today, while the gap between current and projected national demand and supply is well acknowledged, the government continues to drag its feet in creating the policy...
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