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Interest-free banking urged

Indian Centre for Islamic Finance delegation makes presentation at Yojana Bhavan The Indian Centre for Islamic Finance (ICIF) has made out a strong case before Prime Minister's Economic Advisory Council member V. S. Vyas for introducing interest-free banking in the country at the earliest to ensure “inclusive growth with innovation” in accordance with the recommendations of the Planning Commission's Raghuram Rajan Committee. An ICIF delegation from New Delhi, led by its general...

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Enter the watchdog by KP Shashidharan

Recently an interesting article appeared in The New York Times on how after the completion of a social audit at Nagarkurnool in Andhra Pradesh, villagers punished a local official for swindling funds allocated to the central government's flagship project, the Mahatma Gandhi National Rural Employment Guarantee scheme. The irate villagers tied the official's hands and paraded him around the neighbouring villages. This is not a one-off incident; similar accounts have...

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Rural Poverty Report 2011

South Asia in general and India in particular have the dubious distinction of standing out for wrong reasons every time a new global poverty report is released. We not only have the largest number of underweight children, a very high maternal mortality rate and the world’s highest number of out of school children but we also top the global malnutrition chart. (See links below for more details)  However the 2011 United...

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Child labour, still a common practice in large parts of rural India by Bidisha Fouzdar

In a small pastoral vand (hamlet) in Kutch, Gujarat, 10 year old Ramu wakes up at five in the morning. His mother serves him a hasty breakfast of bajra rotis after which he is packed off to the pasturelands surrounding their small hamlet to graze the family's buffaloes. Since his village does not have a working school, grazing the livestock is gainful employment from the point of view of Ramu's...

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Unemployment touches all-time high of 210 million, says ILO by J Balaji

“G20 nations must create 21 million jobs each year over next decade” Positive employment growth found in all countries in 2010: ILO analysis But it has not been strong enough to reverse the slack accumulated during economic crisis Though many countries including India are limping back to normality after facing economic slowdown over the past few years, the unemployment graph is still moving up and has touched an all-time high of 210 million...

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