India has lost nearly a half-trillion dollars in illegal financial flows out of the country, says a new study by Global Financial Integrity. India is losing nearly Rs.240 crore every 24 hours, on average, in illegal financial flows out of the country. The nation lost $213 billion (roughly Rs.9.7 lakh crore) in illegal capital flight between 1948 and 2008. However, over $125 billion (Rs.5.7 lakh crore) of that was lost in...

The poster boy of microfinance is now seeking some anonymity. In Andhra Pradesh, the epicentre of the worst crisis faced by microfinance in India, SKS Microfinance is playing down its identity and going into preservation mode. At its modest office in a residential colony in Warangal district, India’s largest microfinance company has taken down its board. At its head office in upmarket Begumpet in Hyderabad, it hung a cloth mesh...

The forthcoming India visit of the US President, Mr Barack Obama, accompanied by Mr Thomas J. Vilsack, secretary of agriculture, and Dr Rajiv Raj Shah, administrator, United States Agency for International Development (USAID), is significant in the context of strengthening the Indo-US partnership in the field of agriculture production and sustainable food security. Several related issues will be discussed in Mumbai on November 6 and November 7 where an agriculture...

To maintain projects to clean the river and restore its environmental health Centre to consider Uttarakhand's demand for free power in compensation for scrapped projects Conservation Action Plan approved for Gangetic dolphin, the national aquatic animal States through which the Ganga flows will soon be given additional funding to operate and maintain projects to clean the river and restore its environmental health. However, States lobbied for more aid and free power to those...

In a bid to build up pressure before the meeting of the Forest Advisory Committee (FAC) to decide the fate of Posco’s mega steel plant in Orissa, those opposed to it stepped up the momentum. Project opponents, led by Posco Pratirodha Sangram Samiti (PPSS), the organization spearheading the agitation against the South Korean company, held a massive rally and protest meeting yesterday at Balitutha, entry point to the project site. People...