Nearly 65% of adults in the Arab region remain excluded from formal financial systems, according to a new report by the United Nations Economic and Social Commission for Western Asia (ESCWA). The Annual SDG Review 2025 paints a sobering picture of persistent financial exclusion that is undermining the region’s ability …
Bully's immunity: Bangladesh is witnessing a nationwide protest against the government's move to allow blanket immunity to the World Bank (WB) and the International Monetary Fund (IMF). The International Financial Organisation (Amendment) Act 2004, which has allegedly been drafted by the government under WB's pressure, has been ratified by the …
It seems the ruling United Progressive Alliance government at the Centre is seriously considering undertaking social banking reforms. It has agreed to implement the report of the A Vaidyanathan committee, set-up by the Union government, on the revival of cooperative credit institutions. The Union ministry of finance has accepted the …
Climate change poses a major risk to the global economy: It affects the wealth of societies, the availability of resources, the price of energy and the value of companies. The financial industry has a two-fold responsibility. On the one hand, it needs to prepare itself for the negative effects that …
Paul Wolfowitz, deputy us defence secretary, will take over as president of the World Bank (wb) when James Wolfensohn steps down in mid-2005. The ultimate shareholders of the World Bank
in paul wolfowitz's selection as World Bank president, global democracy has taken a sharp fall. Since its formation after World War II, the president of the bank has been nominated by the us , with European powers always nodding approval. In return, Europe gets to nominate the International Monetary Fund's …
Following a national anti-smoking drive, the Malaysian government has decided to give US $2.76 million as interest-free loans and grants to help its nearly 100,000 citizens dependent on tobacco cultivation. The move aims to help them switch over to other crops. Malaysia's deputy prime minister Datuk Seri Najib Tun Razak …
over 644 farmers of Maharashtra, chiefly in Vidharbha, Marathwada and Khandesh regions, committed suicide between March 2001 and December 2004, according to a report submitted on March 16, 2005 to the Bombay High Court (hc) by Mumbai-based Tata Institute of Social Sciences (tiss). The hc had appointed tiss a consultant …
when P Chidambaram stood up to present the first full-fledged United Progressive Alliance (upa) budget on February 28, 2005, it was his second opportunity to show words were backed with resources. Interestingly, the finance minister has not only increased expenditure on various development and social sector programmes, and reduced taxes, …
In the 2004 budget, tabled last July, finance minister P Chidambaram had announced with fanfare the Rs 100 crore National Programme for Renovation, Restoration and Repair of Waterbodies linked to Agriculture (nprrrwa). But not much has happened since. In the 2005-06 budget, presented last month, he restated nprrrwa will be …
The discussions on the Union budget 2005-2006 reflect the media's middle-class obsession. The finance minister's proposal for a fringe tax - on perquisites and other benefits of the salariat - was all that was found worth discussing. Nothing else mattered. But it should. The budget is about expenditure for development …
U sa's George W Bush administration is once again facing flak from environmentalists, this time for proposing a nearly six per cent cut in the budget of the us Environmental Protection Agency (epa) for fiscal year 2006. While the administration says the proposal is part of a larger deficit-cutting move, …
in a move that will benefit Punjab farmers tremendously, the Multi Commodity Exchanges of India Ltd (mcx) and the Punjab State Cooperative Supply & Marketing Federation (Markfed) have collaborated to provide them with the option to get into futures contracts for wheat. A futures contract is an exchange-traded contract that …
What should be the price of natural gas in India? Till now, gas was pumped by the public sector company, the Oil and Natural Gas Commission and piped and sold by another public sector concern, the Gas Authority of India Limited. The government administered the price. But with private players …
Self-Help Group and linkage banking programme has come a long way from a small pilot project of NABARD to become a major poverty financing programme in India. Several organisations have participated in the country-wide programme with several models, but the essence remained the banking linkage through groups of poor women. …
The terms of reference of the National Commission on Macroeconomics & Health, included among others, a critical appraisal of the present health system — both in the public and the private sector — and suggesting ways and means of further strengthening it with the specific objective of improving access to …
in a move towards direct funding of Panchayati Raj Institutions (pris) by the Union government, the 12th Finance Commission (fc) has decided to recommend allocating one per cent of the divisible pool of central taxes and duties for pris. This is the first time pris will share the central tax …
Members of the Association of Southeast Asian Nations (ASEAN), the 10-country grouping, have agreed to create a fund to support environmental projects in the region. The fund, that could be up to US$10 million, will be established by the end of 2004, but the contribution by individual members has not …
