SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...
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Prabhat Patnaik, Professor at CESP, Jawaharlal Nehru University and vice-chairman of the Planning Board of Kerala interviewed by R Krishna
Last month, leaders from 185 countries met in New York to take stock of progress in achieving the Millennium Development Goals (MDGs) — which include, among other things, eradicating poverty and hunger, reducing child mortality, improving maternal health — that were set in 2000 by the United Nations. The aim was to achieve these goals by 2015. But 10 years down the line, the world is way behind targets in achieving...
More »Why rich Indians are malnourished too by Chandra Bhan Prasad
India is the world's 10th largest economy with a GDP of $3.57 trillion and $3,100 as per capita income. Sub-Saharan Ethiopia has the 79th largest economy, with $900 as per capita income. It's far behind India. Yet, Ethiopia and a handful of other sub-Saharan nations beat India in one of the most critical social indices – 35% children in sub-Sahara are malnourished and the figure jumps to 47% for India. Does...
More »Meena Gupta’s Posco report on Monday
The fate of South Korean steel giant Posco’s project in Orissa will be decided by early November. The decision will be taken before Prime Minister Manmohan Singh travels to Seoul for the G-20 meet in the second week of November. The environment ministry-appointed committee headed by former environment secretary Meena Gupta will submit its report on October 18. Sources said that there are indications that the panel will not be submitting...
More »‘Puppy’ bite in NAC food jab at Pawar by Radhika Ramaseshan
Take a lesson from Commonwealth Games mascot Shera and “leap ahead” instead of whimpering like a “timorous puppy”, a food rights campaigner has said in a sharp attack on Sharad Pawar. The criticism in a Delhi newspaper has come from Belgium-born Jean Dreze, a prominent member of the Sonia Gandhi-led National Advisory Council. He is ostensibly riled by reports that Pawar’s food ministry has rejected two of the council’s key proposals...
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