The accusation of ‘coercive' practices to recover the loans has been laid at the doors of some leading players Micro Finance institutions (MFIs) that are for profits are in the news for the wrong reasons. The ‘for profit' MFIs have grown spectacularly in recent times. But along with the large profits have come allegations of sharp practices. In Andhra Pradesh, where such MFIs have a sizable presence, the climate has now drastically...

The Food Security Act was UPA-2’s flagship programme. Jean Dreze, member of the National Advisory Council, has publicly criticised the government. He tells VAIBHAV VATS what’s gone wrong. Much like the Mahatma Gandhi National Rural Employment Guarantee Act in the first term of the United Progressive Alliance, the Food Security Act was its most ambitious social welfare programme. Since discussions on the Act in the National Advisory Council began, its provisions...

In a bid to give local communities a key role in managing forest resources, the Forest Department's smallest unit at the grassroots-level will now report to panchayati-raj institutions instead. In a letter to all Chief Ministers on Friday, Union Environment Minister Jairam Ramesh directed State governments to amend State acts and rules to bring all Joint Forest Management Committees (JFMCs) under the supervision of Gram Sabhas. This means that the village leaders...

India has slipped 10 places to the 88th spot, way below neighbouring China, in the World Prosperity Index due to poor healthcare and education systems coupled with weak entrepreneurial infrastructure. While last year, India stood at 78th position, according to London-based Legatum Institute that compiled the index. China is ranked 58th in the list of 110 countries, which is topped by Norway. Other countries in the top five are Denmark (2), Finland...

Salaries of MPs, MLAs and bureaucrats have seen huge hikes recently but for workers under the National Rural Employment Guarantee Act (NREGA), wages have remained static ever since the scheme was launched five years ago. Rajasthan Chief Minister Ashok Gehlot recently announced a Diwali bonus for the government employees in the state. "For Diwali we have decided to give bonus equal to 30 days salary. This will cost us Rs. 223 crore...