High cotton prices spun out enough problems for India’s $62 billion textiles industry, but weaved gains for growers and traders in 2010. Amid pulls and pressures from the conflicting interests, a ministers’ group under the guidance of finance minister Pranab Mukherjee kept reviewing the price and crop situation, with excessive winter rains playing spoilsport. The textiles industry pulled out all stops to lobby with the textiles, commerce and finance ministries seeking a...

The government will shortly set up an anti-corruption mechanism in the backdrop of scandals in which the Opposition has targeted Prime Minister Manmohan Singh. As legislative measures will be required to introduce certain provisions, it can even pilot an ordinance. Sources said the Prime Minister was giving “serious thought” to this mechanism with a blueprint having already been prepared, incorporating the suggestions given by Congress president Sonia Gandhi at the party...

Confusion continues to reign in the debate on microfinance that has unfolded following the promulgation of the Andhra ordinance, soon to be replaced by Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Act, 2010. A key confusion has been that microfinance is a major instrument of poverty alleviation. Going by the available scientific evidence and agreement among scholars, to-date, there exists no compelling study linking the expansion of microfinance to...

Showing its concern for farmers, the Mayawati government on Wednesday decided to implement the amended national agriculture insurance scheme (NAIS) and the all weather-based crop insurance scheme from the current sowing season. Both these schemes involve an expenditure of Rs 900 lakh. A decision to this effect was taken at a cabinet meeting presided over by chief minister Mayawati here on Wednesday. The NAIS, according to an official release, will be implemented...

With three small children to raise in a dirt-poor village in eastern India’s Bihar state, farm labourer Renu Devi is an unsung rural supermom who shuttles between home and field every day. But the demure 30-year-old mother does not forget to bring her children to the biannual Vitamin A rounds in Bagwanpur Rati, one of the villages in Vaishali district of Bihar. This is because Vitamin A deficiency is a major...