-Frontline The problem in rural India is not one of too much credit to poor households that leads to debt waivers that damage bank balance sheets, but one of inadequate access to credit from formal sources. IF Reserve Bank of India Governor Raghuram Rajan is to be believed, efforts to help Indian farmers by providing them with cheap(er) credit and relieving them of an unsustainable debt burden only harms them in the...
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Banking on a flimsy promise -Jitendra
-Down to Earth The government is clueless about incentives it has promised under its Pradhan Mantri Jan Dhan Yojana to bring every family under the formal banking system ON AUGUST 15, when Prime Minister Narendra Modi announced extending the financial inclusion plan of the former UPA government and renamed it Pradhan Mantri Jan Dhan Yojana (PMJDY), he was well aware of its limitations. Though launched in 2010, the plan had miserably failed...
More »And peanuts for MGNREGA -Bunker Roy
-The Indian Express We want Prime Minister Narendra Modi to succeed in his national campaign to tackle the vast problems of the poor in Bharat. But his one-time contractor turned Union minister for rural development is succeeding in making his own prime minister look contradictory and indecisive to the nation and the world. The prime minister talks about constructing toilets and improving sanitation, opening bank accounts for every poor, excluded family,...
More »How Much Can We Forgo To India Inc? -P Sainath
-Outlook India To the social subsidy whiners, please check corporate write-offs column The TV anchor asked eagerly of Arun Jaitley whether he would take hard decisions or, in the case of a bad drought, revert to loan waivers and (obviously wasteful) subsidies. The finance minister replied that it depended on the situation as it unfolded but he hoped he wouldn't have to return to such steps. "We hope so too," said...
More »Aadhaar and the rhetoric of fear -Praveen Chakravarty
-The Indian Express Five years on, we need to examine our xenophobic reactions and paranoia of the intrusive state. Five years and Rs 4,000 crore ($800mn) later, there is a pregnant pause. "Are you who you claim you are?" is a question that more than 60 crore Indian residents can now answer with integrity. Twenty-three out of the 36 states and Union territories of India can now verify the authenticity of more...
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