The Centre is likely to ask states to devote 2% of the funds allocated to them under its flagship rural employment guarantee scheme for providing easy banking services to the rural poor. A funding crisis had hit the government's earlier effort to leverage the banking correspondent, or BC, model for the beneficiaries of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) after banks refused to bear the cost of...
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Orissa fails to keep date with revised MoU with Posco by Nageshwar Patnaik
The Orissa government has failed to keep its commitment for renewal of the revised MoU with Posco-India Ltd for setting up 12-million ton steel plant near Paradip by July end as the South Korean company has not agreed to certain conditions in the revised MoU. Even as the tenure of the previous MoU expired on June 21, 2010, the state government had gone on acquiring land for the proposed steel...
More »ADB warns of bumpy road into 'Asian century'
-AFP Asia could be as wealthy as Europe by mid-century, but only if it tackles key challenges from inequality and corruption to climate change, an Asian Development Bank study said Tuesday. On current trends, Asia will make up half the world's economic output by 2050, and another three billion people will have joined the ranks of the affluent, their incomes matching those of Europe today, said the report. But the ADB study...
More »Land acquisition challenges can be overcome by S Sanandakumar
Kerala has not been very successful in the past to consistently attract big-ticket investments . The absence of strategic investments in key sectors has always been a hurdle in the state's path to economic prosperity. The new chief ministerOommen Chandy, known for speedy decision-making , wants to change this scenario. He has already been able to swing public opinion in his favour by addressing long-pending issues such as the Smart...
More »Poverty set aside for village computer by Anirban Choudhury
Most of the residents of Ambadipa are farmers and almost all their monthly earnings are less than Rs 2,000. But that did not stop them from bringing technology to their village for their children. All the residents of this little hamlet tucked away in a Dooars block had contributed to buy the only computer that Ambadipa now boasts of. “It was difficult for us to pay, but we did it. All the...
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