There was in fact a successful auction of spectrum — only it was not conducted by the government but by its corporate sector cronies who made a fortune on the deal. On one pronouncement of his, you have to agree with Prime Minister Manmohan Singh. His is not a ‘lame-duck government.' Cooked goose seems the more appropriate soubriquet. However, not a single new scam worth over Rs. 1 lakh crore has...
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In agriculture’s pyrrhic victory, a call to caution by RN Bhaskar
There’s both good news and bad news on the food front. The good news is that wheat, maize and pulses production during the current year will be the highest that India has seen. Wheat production was expected to be high, thanks to the twin advantages of a high procurement price —- higher than international prices —- and favourable weather conditions. But pulses production too has zoomed, because of the soaring prices in the...
More »Punjab losing out on traditional seeds by Ramaninder K Bhatia
Why women in Punjab villages shy away from offering their super-nutritious panjiri to guests from abroad, and instead offer them chips and coke? And, is there any connection between panjiri and failure of the Punjab farmers to save their own traditional (sustainable) seeds in favour of hybrids or new varieties dished out by PAU or private companies? 'There is a deep connection between the two,' says Arshinder Kaur, India coordinator for international...
More »ADB plans to set up $250 mn guarantee fund for microfinance by Aveek Datta and Anup Roy
India’s microfinance institutions (MFIs), under pressure because of stricter rules in their largest market Andhra Pradesh and the consequent slump in repayments there, may get a boost from the Asian Development Bank (ADB). ADB is constituting a $250 million (around Rs1,135 crore) facility to offer guarantees against loans to MFIs extended by banks in the Asia-Pacific region where it operates, including India. The move is aimed at encouraging banks to lend...
More »Who is responsible for India's poor – the state or the private sector?
Regulation in India's microfinance sector aims to address feckless borrowing and reckless lending – but will the new restrictions entrench poverty, rather than end it? One of the many crushing burdens for India's poor bear is debt; unable to make ends meet, they turn to traditional moneylenders. They are willing to extend credit, but at unconscionably high rates – sometimes exceeding 80%, and keeping borrowers in lifelong penury. Popular cinema and...
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