An empirical analysis of the microfinance industry shows that the recommendations of the Malegam committee would have significantly more detrimental consequences than have been anticipated in the report. The microfinance exchange (www.mixmarket.org) is the most comprehensive data source for MFIs across the world. Table 1 displays the information on several parameters of Indian MFI performance for 2009. Column 2 displays the average values of performance parameters across 88 Indian MFIs....

The Manmohan Singh government has moved in to restore the role of civil society groups in conducting the social audit of the Mahatma Gandhi National Rural Employment Guarantee Act in an attempt to weed out corruption from various levels. The Rural Development Ministry is in consultation with the Comptroller and Auditor General to remove the lacuna that had cropped up after social audit rules were amended in 2009 to eliminate...

Five years is a short period but the achievements are awesome. About ten crore poorest of India’s poor have opened personal accounts in banks or post offices; people demand work because it is their right; it has already regenerated ponds and water bodies and other community assets in thousands of villages; men and women get equal wages for equal work and ordinary people have a right to audit development works...

Women continue to reap less benefits from employment in agriculture than men in rural areas, and the recent global financial and food crises have slowed down progress towards gender equality in farming-related labour, three United Nations agencies said in a joint report unveiled today. According to the report, compiled by the UN Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD) and the International Labour Organization (ILO), women...

The question raises fundamental issues about the MGNREGA’s centralised template and poor delivery mechanism, but it is important to provide a legal basis to its wage structure to protect it against inflation. We need to remember that the way the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was originally conceived, wages were never meant to be equal to the minimum wages; they should have been lower. This is because the...