Microfinance is an effective tool for financial inclusion. Here are some elements of the recently embattled sector The recent controversy surrounding the microfinance sector has entirely eclipsed the fact that it is the first effort in India to have delivered financial services to remote corners of the country in a self-sustaining manner. The stakes are high for India’s poor, and we have to pave the way for orderly growth in the...

India has slipped 10 places to the 88th spot, way below neighbouring China, in the World Prosperity Index due to poor healthcare and education systems coupled with weak entrepreneurial infrastructure. While last year, India stood at 78th position, according to London-based Legatum Institute that compiled the index. China is ranked 58th in the list of 110 countries, which is topped by Norway. Other countries in the top five are Denmark (2), Finland...

A patent is an artificial property right; it is created by the government, and would not exist if there were no government or if it did not grant patents. It is then for the government to decide whether to grant a patent or not. But a government would not normally make the decision arbitrarily; it would follow some rules. The rules universally followed are novelty, non-obviousness and commercial value. A...

The farmers need to come out of their traditional mindset and develop business acumen to reap the benefits of food processing that has a lot to offer to the country, says joint secretary, ministry of food processing industries, Government of India, Ajit Kumar. Kumar was in the city to inaugurate one-day orientation training programme on food processing for farmers at then Banaras Hindu University on Sunday. Saying that commercial orientation and awareness...

It’s been often asked why our officialdom, with all the intellectual capital at its command, is unable to quantify the number of the really poor in India. Is this such a difficult thing to do? It is all the more baffling because in recent times, the debate on India’s poverty has only further confounded ordinary citizens. The Planning Commission had come up with an assumed deprivation ratio of 27.5 per...