Janardhana Reddy insists he is not a king. No, no, no, he protested, as a servant trotted across the courtyard to deliver a cup of cooled water. Men with machine guns stood outside. An architect waited to discuss the new mansion, while another man hovered nearby, sitting in the grass. “He’s the state minister of health,” Mr. Reddy said of the man in the grass, who stood up, made a little...
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IRDA fines LIC, HDFC Standard for missing rural obligation
Insurance regulator IRDA has imposed a penalty of Rs 5 lakh each on two life insurers, state-run Life Insurance Corporation (LIC) and HDFC Life Insurance, for failing to meet rural and social sector obligation in 2008-09, Parliament was informed. The Insurance Regulatory and Development Authority (IRDA) has imposed a fine on LIC and HDFC Standard Life Insurance for non-compliance under the rural sector target during 2008-09, Finance Minister Pranab Mukherjee...
More »Rice output may reach record as rain boosts planting
India, the world’s second-biggest rice grower, may have a record harvest this year as increased planting offset drought in the east of the country. Production may total 100 million tonnes in the year ending June 2011, compared with 89.3 million tonnes a year ago, said Vijay Setia, president of All India Rice Exporters’ Association. Output was a record 99.2 million tonnes in the year ended June 30, 2009, according to the...
More »Killed by the Food Bill by Nitin Sethi
At a time when some of the poorest belts of India are suffering from a monsoon failure the government, has decided to let lakhs of tonnes of food grain turn inedible in the godowns rather than give it to the needy. Ironically, it has used the proposed National Food Security Act as an excuse to not distribute the grains to the needy. The Supreme Court in its last hearing had...
More »Anirudh Krishna, Economist interviewed by Archana Masih
What are the poor most concerned about? After meeting families in 175 Indian villages in the last decade, Anirudh Krishna, says the poor's greatest worry is their children's future. With a manner of a school teacher, Professor Krishna, who teaches at the Sanford School of Public Policy at Duke University in the US, has led a team meeting poor families to find out why poverty persists. The research also includes...
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