the importance of hedging despite the alleged incorruptibility of the lokpal

 What is the best institutional architecture for fighting corruption? Should India have one, all-powerful anti-corruption watchdog or should it have several smaller ones? What if the Lokpal gets corrupted the way other institutions have? Are we better off with a strong Lokpal? Or are we better off making the CBI more independent of the government, […]

Cash Trance

In his speech this year, the Indian finance minister announced that India would deliver the fertiliser subsidy directly to farmers from next year onwards. Shortly after the budget, the government’s National Informatics Centre insisted that it be allowed to develop the necessary software. A small update from the trenches here. This software, sources in the […]

MFI regulation: Part Three

With SKS Microfinance challenging Andhra Pradesh’s controversial microfinance law in the Supreme Court, India might soon have an answer to the question: who should regulate microfinance institutions (MFIs), the Centre or the states? This is a question that needs an immediate answer. As non-banking finance companies (NBFCs), MFIs are regulated by the RBI. Being financial […]

Prakash Bakshi’s To-do list at Nabard

After much speculation, Nabard has finally appointed Prakash Bakshi as its chairman. He is assuming charge at a difficult time. Nabard was set up to ensure credit flows for agriculture and rural development, a vitally important role in this country. But, over the years, agricultural production has come to lag behind agricultural credit, raising questions […]