Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

Poor spending on NREGS by Maharashtra - only Rs351 crore out of Rs668 crore - can be seen in two ways. One, apathy towards the poor and carelessness, and two, less money spent means less money stolen. All employment schemes are seen as doles, work is faked, ghosts are paid and the bucks swallowed by the establishment - politicians to petty bureaucrats - with the poor guy in the boondocks...

New drug pricing policy proposes bringing all essential medicines under price control, but makes them expensive After years of dilly-dallying and several Supreme Court reminders, the Centre has proposed to bring all essential drugs under price control. But the policy is nothing but hogwash. Its pricing mechanism would make essential medicines out of reach for most people. Public health experts have termed the draft National Pharmaceutical Pricing Policy of 2011 a...

-The Hindu   The government has finalised rules for the implementation of the country's new nuclear liability that aim to meet the concern of American nuclear suppliers wary of being exposed to unlimited liability in the event of a Fukushima-type accident involving any of their reactors. The rules, which were notified on November 11, were made public on Wednesday on the eve of Prime Minister Manmohan Singh's visit to Bali for a regional...

Comptroller and Auditor General Vinod Rai in his address to recruits at the National Police Academy sought to enlist them in his campaign. BAGEHOT'S classic explains why and how a genre of civil servants mushroomed in India latterly as executive power, authority and prestige declined. None of them had earlier revealed a particularly strong spine. T.N. Seshan bared his traits once he was appointed Chief Election Commissioner (CEC). Others need not...