Thursday, October 07, 2010

The quality of mercy

From Sun Co-Founder Uses Capitalism to Help Poor:
"A recent Bain & Company study estimated that Indians give much less as a percentage of the country’s gross domestic product than Americans. Moreover, individual and corporate donations account for just 10 percent of the charitable giving in India, compared with 75 percent in the United States and 34 percent in Britain. The balance comes from the government and foreign organizations.

Rich Indians “are more into temple building and things like that,” said Samit Ghosh, the chief executive of Ujjivan Financial, a microlender based in Bangalore, “rather than putting their money into real programs, which will have real impact on poverty alleviation.” "

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