Debashis Basu: Mudra Bank - politics over economics?

Debashis Basu

About a month ago, this newspaper carried an editorial lauding the rapid progress of Mudra Bank based on figures put out by Finance Minister Arun Jaitley. He claimed that Mudra had already advanced over Rs 24,000 crore to over 3.7 million micro enterprises and he expected advances to cross Rs 1.2 lakh crore by the end of the current financial year, to over 12.5 million borrowers. "By the yardsticks of even the most efficient organisations, this is a phenomenal achievement", said the editorial, arguing that "by the standards of India's public institutions, even the well-run ...