The Supreme Court on Friday slammed Communications Minister Kapil Sibal for his remark that the official auditor's report was "utterly erroneous" in assessing the loss on award of telecom spectrum at Rs.1.76 lakh crore ($40 billion). "It is unfortunate," said the apex court bench of Justice G.S. Singhvi and Justice A.K. Ganguly. The court said the minister must be more responsible and directed the Central Bureau of Investigation (CBI) to proceed with...

A generally beleaguered microfinance industry was eagerly waiting for Yezdi Malegam for deliverance. Any conversation about the microfinance business would end with the expectation that the Malegam committee would deliver a healthy dose of oxygen to the choking microfinance industry. The report was expected to be the panacea for all that ails microfinance in India. The report, which came out on Monday, disappoints not only in its inability to meet these...

When we hear the word innovation, we often think of new technologies or silver bullet solutions — like hydrogen fuel cells or a cure for cancer. To be sure, breakthroughs are vital: antibiotics and vaccines, for example, transformed global health. But as we’ve argued in Fixes, some of the greatest advances come from taking old ideas or technologies and making them accessible to millions of people who are underserved. One area...

Five years ago, the Prime Minister launched the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), calling it the single-largest initiative of the government of India for a planned development of our cities. This unique, Rs 50,000-crore (subsequently enhanced to Rs 66,000 crore) programme to be implemented over a seven years from 2005 to 2012 focuses mainly on 65 mission cities with provision kept also for other small towns. While the...

Students at the Indian Institute of Science in Bangalore raised questions on the huge cost of the newly-launched unique identification project, the security of the system and what was being done to prevent its possible misuse, but they got no clear answer In the Indian Institute of Technology (IIT) that I graduated from way back in 1983, dialogue and debate were the essence of true talent. Those who were revered most...