The rural poor in Andhra Pradesh, a State showcased as a model for SHG-bank linkage, are caught in the vortex of microfinance. WITHIN a decade of their coming into operation, microfinance institutions (MFIs) have dealt a serious blow to the economy and the well-being of thousands of families in rural Andhra Pradesh. Harassment by their collection agents has allegedly driven at least 60 borrowers to death, and the number is...

Inflation declined marginally to a 10-month low of 8.58% in October, prompting policymakers to proclaim victory in their effort to cool prices, but economists remained sceptical saying the fight is far from over. The decline was mainly due a fall in food inflation to 14.13% from 15.71% in September and the base effect, or higher inflation of last year, data released on Monday showed. Finance Minister Pranab Mukherjee said the full impact...

The country’s attention may be focused on an ever-increasing energy needs, but water is a much bigger issue, says a key policymaker in the government. “Water crisis is a more serious issue than energy crisis,” said Montek Singh Ahluwalia , deputy chairman of Planning commission, at the World Economic Forum on Sunday. Speaking at a session on ‘How will India avert a Water Crisis?’ Mr Ahluwalia said that that the government...

BJP is screaming hoarse about corruption in the UPA and demanding telecom minister A Raja's scalp for alleged misdeeds related to 2G spectrum allotment. But in Karnataka, where the party is in power, more skeletons are tumbling out of the scam-scarred B S Yeddyurappa government's cupboard. The latest to come to light had the chief minister allot land to his sons' company. In the first of the three cases, about which...

The Adarsh housing scam, which has already cost Ashok Chavan his job as Maharashtra chief minister, is sinking to still more embarrassing depths as investigators comb carefully through the claims of its promoters, who invoked the names of Kargil heroes and war widows to extract clearances. Did any Kargil hero actually get a flat in Adarsh? In 2002, the society had listed two members — out of a total of 71...