Some 350 million people living in rural areas being lifted out of extreme poverty in the past decade, according to The Rural Poverty Report, published by the International Fund for Agricultural Development (IFAD), a United Nations (UN) agency. However, in spite of this, more than a billion people around the world still continue to suffer. The UN describes extreme poverty as living on less than $1.25 (80p) a day. But factors such as...
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Panel proposes UID-linked direct subsidy by Utpal Bhaskar
The government is planning a complete overhaul of the way the power sector is financed and subsidies are delivered, attempting to address a funding shortfall delaying the construction of electricity projects and worsening a chronic power deficit that threatens to sap growth in India’s energy-hungry economy.This exercise is based on a report submitted by a panel headed by Montek Singh Ahluwalia, deputy chairman of the Planning Commission, to the power...
More »India Microcredit Faces Collapse From Defaults by Lydia Polgreen and Vikas Bajaj
India’s rapidly growing private microcredit industry faces imminent collapse as almost all borrowers in one of India’s largest states have stopped repaying their loans, egged on by politicians who accuse the industry of earning outsize profits on the backs of the poor. The crisis has been building for weeks, but has now reached a critical stage. Indian banks, which put up about 80 percent of the money that the companies...
More »Towards a Comprehensive Food Security Bill for All by Dipa Sinha
The NAC proposals for the food security bill are narrow and lack in vision. What is needed is a comprehensive bill with universalisation of PDS and a focus on child malnutrition. There was much excitement when food security became one of the issues in the manifestos of most major political parties in the run up to the 2009 General Elections. With burgeoning food stocks, double-digit food inflation, stagnant malnutrition rates, declining...
More »Jean Dreze, Development Economist interviewed by Vaibhav Vats
The Food Security Act was UPA-2’s flagship programme. Jean Dreze, member of the National Advisory Council, has publicly criticised the government. He tells VAIBHAV VATS what’s gone wrong. Much like the Mahatma Gandhi National Rural Employment Guarantee Act in the first term of the United Progressive Alliance, the Food Security Act was its most ambitious social welfare programme. Since discussions on the Act in the National Advisory Council began, its provisions...
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