The Bengal government could have ensured a monthly scholarship of Rs 500 for nearly 22,000 poor schoolchildren in the state over the past three years, without any damage to its own pocket. Instead, it chose to help just about 3,000 get the scholarship.The National Means-Cum-Merit Scholarship, launched in 2008-09, looks to benefit about one lakh Class IX students every year. The State Bank of India pays the entire sum, which...

Jairam Ramesh, India's environment minister, will make a decision in the next week that could define the future of the country: whether to approve a $12 billion South Korean-owned steel plant, the largest potential foreign direct investment ever on the subcontinent. The plant, proposed by South Korea's Posco, has been in the works for years. It already has been cleared by the environment ministry, which Mr. Ramesh runs, and endorsed by...

Faced with a massive public outcry and fierce opposition from tribals, the government has, in a landmark move, decided to give tribals and other affected populations a share of the profits made from exploiting mineral resources from their land. The Group of Ministers (GoM) headed by finance minister Pranab Mukherjee on Friday finalised the contours of the draft for a new mining bill, which makes it mandatory for mining companies to...

MICROFINANCE is an example of something that is sadly all too rare: an anti-poverty tool that usually at least breaks even. If you make small, uncollateralised business loans to groups of poor women, they almost always repay them on time. It has grown rapidly in many countries, not least Bangladesh and India. With nearly 30m clients each, these are now the world’s biggest markets for microfinance. Yet the industry has...

Investments worth Rs 100 crore in silica sand mining and beneficiation in Nellore district of Andhra Pradesh are in jeopardy due to the state government’s insistence on acquiring the mineral-bearing land for developing a Special Economic Zone (SEZ), protests the Federation of Indian Mineral Industries (Fimi). The Institute of Indian Foundrymen wrote to the Union mining ministry early this month, urging its intervention. There is no alternative area nearby for mining...