An Indian company that makes tiny loans to villagers aims to raise up to $354 million in an initial public offering, a move critics fear will encourage India’s largest microfinance lender to put shareholders above the poor it serves, The Associated Press writes. SKS Microfinance’s share sale, begun Wednesday, has already drawn the ire of one of the leading lights in the field. A publicly traded company’s traditional obligation is to...

The National Advisory Council, led by UPA chairperson Sonia Gandhi, has come up with the muchawaited contours of the National Food Security Act. The NFSA, it is hoped, will become India’s flagship programme for tackling hunger and malnutrition, equal in scale and vision to the ambitious and highly successful Fome Zero Programme launched by President Lula Da Silva in Brazil. The UPA government is also hoping that the NFSA will...

State governments on Monday submitted their recommendations to the Centre on how to improve the public distribution system (PDS), including steps to ensure timely distribution and reduce leakages. The states presented their views at a two-day conference of Food Secretaries of all the states and Union Territories, which began on Monday. The meeting assumes   mportance as the Centre is enacting a National Food Security Act to provide cheap foodgrains to...

The Centre is gearing up to put in place a stringent monitoring system for the Public Distribution System (PDS) even as coining the food security law becomes more complicated and prolonged. Some 11 states gave their suggestions to the Centre on the issue here today at a meeting of state food ministers, in what is seen as a bid by food minister Sharad Pawar to bring PDS back into the...

In April, India’s Planning Commission accepted recommendations put forth by the so-called Tendulkar Committee on a new poverty headcount for the country. Constituted by the Planning Commission under economist Suresh D Tendulkar, the committee, after four years and a new methodology, arrived at a new figure for the number of Indians living below the poverty line: 37.2 percent, ten points higher than the previous official figure. With the government’s subsequent...