Stability in markets will be determined by size of next year's crop The Food and Agriculture Organisation (FAO) has warned about a further increase in global food prices in 2011 if there is no significant increase in production of major food crops. In the latest edition of its “Food Outlook” report, the agency observed that the rise in global prices, all of which was accruing in the second half of 2010, owing...

The rural poor in Andhra Pradesh, a State showcased as a model for SHG-bank linkage, are caught in the vortex of microfinance. WITHIN a decade of their coming into operation, microfinance institutions (MFIs) have dealt a serious blow to the economy and the well-being of thousands of families in rural Andhra Pradesh. Harassment by their collection agents has allegedly driven at least 60 borrowers to death, and the number is...

The CAG indicts Uttarakhand for pursuing hydel power projects indiscriminately without concern for the environment. IN a severe indictment of the Uttarakhand government, the Comptroller and Auditor General (CAG) of India said it was pushing the State towards a major environmental catastrophe by following a highly ambitious hydropower policy. In a report titled “Performance Audit of Hydropower Development Through Private Sector Participation”, which was released recently, the CAG substantiates the allegations...

Global food import bills may pass the $1 trillion mark in 2010, a level not seen since food prices peaked in 2008, says a new United Nations report, which warns that harder times could be ahead without a major increase in food production next year. According to the latest edition of the Food Outlook report, released by the UN Food and Agriculture Organization (FAO), food import bills for the world's poorest...

Time magazine picked him as one of 100 people shaping our world. Today, he’s held responsible for bringing an exciting, inspirational business into disrepute. Oh, and his wife says he beat her and snatched their son. There could not be a more controversial torchbearer than Vikram Akula for an industry as quintessentially Indian as microfinance, the business of providing the poor with loans, as small as R5,000, secured not with...