-The Telegraph New Delhi: Prime Minister Narendra Modi today used his monthly radio broadcast to reach out to farmers and defend the controversial land acquisition bill, asking them not to be misled by the Opposition's "lies". He denied that his government's intended amendments to the UPA-steered 2013 land law favoured corporate houses and would deprive farmers even of the right to move court against a takeover of their land. Modi's speech launched the...
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India bright spot in global economy; caste bias a concern: World Bank
-PTI GANDHINAGAR (Gujarat): World Bank on Sunday said India can grow at 6.4 per cent in 2015 and accelerate further next year, but cautioned that an enduring "bias" on the basis of caste and other factors can impede prosperity. The government, however, is well aware of this issue and the World Bank sees India as "a bright spot in an otherwise mediocre global economic outlook," the multilateral lending agency's president Jim Yong...
More »Revisiting rural indebtedness - CP Chandrasekhar
-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...
More »Is MGNREGS reaching its end? -Abhiroop Mukhopadhyay
-The Hindu Business Line The rural job guarantee scheme is threatened by the undermining of its driving force, demand-driven work Is the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) suffering a midlife crisis or are we staring at its death? From a budget of ₹401 billion in 2010-11, it has plummeted to ₹330 billion in 2013-14. Given the much higher wages currently offered to workers, it has taken a serious hit. The...
More »Jan Dhan: Inclusion scheme excludes most -Vrishti Beniwal
-Business Standard Restricts scope of life insurance cover to bring down burden on the exchequer The government has started applying exclusion principles to its inclusion scheme, the Pradhan Mantri Jan Dhan Yojana (PMJDY). The life cover of Rs 30,000 announced by Prime Minister Narendra Modi for all those opening a bank account under the scheme will now exclude many. The finance ministry has put several riders for defining one's eligibility for a life...
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