An Indian company that makes tiny loans to villagers aims to raise up to $354 million in an initial public offering, a move critics fear will encourage India’s largest microfinance lender to put shareholders above the poor it serves, The Associated Press writes. SKS Microfinance’s share sale, begun Wednesday, has already drawn the ire of one of the leading lights in the field. A publicly traded company’s traditional obligation is to...

When flames from an open cooking fire raced through Fida Hussein's shack in northern India, it was a disaster for him and his poverty-stricken family. "We have nothing," said Hussein as he stood in the ruins of his hut through which the sky could be seen between the burnt roof timbers in a remote corner of Uttar Pradesh, India's most populous state. India's number of millionaires grew by 51 percent...

The State Government has set the target to make Sikkim the first-ever Poverty Free State of the country within the next four years. A comprehensive programme, involving all the Government departments will be undertaken for the purpose with special thrust on the poverty-stricken villages. This was announced by the Chief Minister Pawan Chamling in the Assembly yesterday. He was replying to the general discussion on the Budget in the House. Chamling...

Turmeric has reaped gold in Andhra Pradesh's Nizamabad district. Turmeric farmers B Pedolla Chinnaya and Badam Maruthi are celebrating their new prosperity at the local auto dealer. While Mr Chinnaya has plumped for a Hyundai Santro, Mr Maruthi has used his cash bonanza on namesake Maruti Swift. Chinnaya and Maruthi belong to Ergatla village where each has about four acres of land. While Chinnaya has made Rs 9 lakh from 90 quintals...

India lives in its villages, Gandhi said. But increasingly, the people of India are dying on its roads. India overtook China to top the world in road fatalities in 2006 and has continued to pull steadily ahead, despite a heavily agrarian population, fewer people than China and far fewer cars than many Western countries. While road deaths in many other big emerging markets have declined or stabilized in recent years,...