The budget for the next fiscal is likely to step up the target for farm credit to 4,50,000 crore, up 20% from the current year's 3,75,000 crore. With the agriculture sector seen growing at 5.4% in the current fiscal, the government will push banks to disburse more to the sector to maintain the momentum, said a senior government official. The upheavel in the micro-finance sector will also necessitate greater lending by banks. "The...

Many Indian laws do not reflect modern and enlightened concepts of justice and require major revision. The recent campaign in support of Dr. Binayak Sen has received much publicity. The mainstream media has enunciated his cause and dissected the evidence, conviction and judgment. Amnesty International argued that the case violated international standards for a fair trial. While Dr. Sen's conviction has received much attention, there is a need to foreground the...

Illegality in India today touches almost every economic activity. It is both systemic and systematic. The Indian ruling class faced its severest crisis of credibility in 2010. Its past caught up with it and skeletons and scams were spilling out of its closets. The scams have a symbiotic relationship with the black economy. The number of scams is growing and so is the size of the black economy, which has reached...

Painting a grim picture of the standard of education in Indian schools, a report on Friday disclosed that half the students in class V cannot read class II texts. The report, released by vice-president Hamid Ansari in the Capital, said that in spite of the Right to Education (RTE) Act roll-out in April, ground realities have not changed much. The nationwide survey found that though enrolment has increased, the role of...

So why is the UPA hell-bent on killing its unique success story: the NREGA? Here's the inside narrative of the conspiracy. It took 47 days of a protest sit-in at Jaipur to make the state budge(1). It's notable that the objective of this protracted protest was not to coerce the Rajasthan government for an extra share of the state's resources, but to hold the government accountable to the Constitution and its...