MFIs in Andhra Pradesh are paying for the sins of their past. Market for new loans has dried up, banks have turned off their spigots while the AP government is content to sit back and watch. It has been eleven months since the Andhra Pradesh government issued an ordinance—later converted into the Andhra Pradesh Micro-Finance Institutions (Regulation of Money Lending) Act—which, the microfinance industry hoped, would be the magic remedy that...
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The right to skills by Manish Sabharwal
It’s been raining “rights” in Indian policy for the last few years — education, work, food, service, healthcare, and much else. This “Diet Coke” approach to poverty reduction — the sweetness without the calories — was always dangerous because of unknown side effects. Commenting in 1790 on the consequences of the French Revolution, Edmund Burke said: “They have found their punishment in their success. Laws overturned, tribunals subverted, industry without...
More »Banks may be paid for MGNREGS accounts by Remya Nair
The government plans to pay `80 every year for three years to state-owned banks for each account they have for a beneficiary of the rural job guarantee scheme. This is expected to provide an incentive to lenders to ensure quicker delivery of wages under India’s flagship welfare programme. “We have made a proposal to the finance ministry that a public sector bank gets paid `80 per year for each MGNREGA (Mahatma Gandhi...
More »Growing India, shrinking Bharat
As higher urbanisation has long-term consequences for governance, the latest numbers should serve as a heads-up to the planners. More Indians are moving into towns now. According to the 2011 Census, the urban population grew by 90.99 million between 2001 and 2011. The absolute increase in the rural population over this period was 90.47 million. Put differently, urban population grew by 31.8 per cent, a little over two-and-a-half times the corresponding...
More »A suicide every 30 minutes and more bad news
A report by the Centre for Human Rights and Global Justice (CHRGJ) reveals that there is a strong link between farmers’ suicides and denial of social and gender justice. It says that farmers’ suicides, which are a grim marker of India’s agrarian crisis, will become more severe in times to come due to the existing gender and caste-based discrimination. Issued by CHRGJ and the International Human Rights Clinic (at New York...
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