The current state of rural banking in the country is poor. A recent report, by the National Sample Survey Organization, revealed that 51.4 per cent of the 89.3 million total farmer households in the country had no access to credit; 27 per cent of the households were indebted to formal sources of which one-third also borrowed from informal sources.
IT is not surprising that questions of food security and the right to food have become such urgent political issues in India today. The rapid growth of aggregate income over the past two decades has not addressed the basic issue of ensuring the food security of the population.
The issue of poverty estimation seems to be getting more complicated as a government-sponsored panel has now said that about 38 per cent Indians are poor
The gale of chatter during the current global meltdown has been mainly about the hardships in store for the corporate sector and middle classes. The voice of the poor is too feeble to have been heard in the din.