The finance ministry is planning to change the face of banking in the Red corridors at the tribal heartlands of India. The move is part of the government decision to redraw its law and order management and development plans in view of the growing Naxalite menace threatening the Indian state. As the banks, like any other government institutions bear the brunt of Naxalite terror, Finance Minister Pranab Mukherjee is mooting the...

The recent spike in world food prices has further widened the gap between the developed and the developing economies. While, over 70 per cent of the world's population resides in poor countries, it has access to less than 40 per cent of the world's resources such as water, irrigated land, power, etc. This is a result of inconsistent economic progress (post-colonialisation birth pangs), rampant population growth and distractions such as...

In India peasantry is under assault. There is a five-pronged attack on this class and the mighty Indian state is sometimes an active and sometimes a passive abettor. The first point of attack is from the corporate sector. The corporate sector is in a land grab mode. Though not justified, one could understand their urge to get land for industry and real estate purposes. Not that they are causing aggressive...

India’s plan to offer unique identity (UID) cards to all citizens will bring a range of banking services within reach of millions of poor who currently cannot even open a bank account, says a report released on Friday by the Unique Identification Authority of India (UIDAI), which is executing the project. Facilities such as microfinance are beyond the reach of many poor people in both towns and villages who do not...

Flaws In The PDS… Poor verification norms, over two crore bogus BPL cards Over 1.2 crore BPL families don’t have a ration card No monitoring, resulting in pilferage, gaps in delivery, poor quality foodgrains Poor profit margins a major cause for corruption Lack of information hinders benefits from reaching the poor …and the Solutions Base fair price shops on new business model The Centre takes ‘responsibility’ for delivery in states Make verification...