-PTI Crude oil and natural gas contract; the previous low of 0.9% was recorded in December 2015 New Delhi: The growth of eight core sectors slipped to over one-year low of 1% in February mainly due to decline in output of crude oil, natural gas, refinery products, fertilisers and cement. The growth rate of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity was 9.4% in...
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Why Are Banks Deducting Money From Farmers' Accounts Without Permission? -Nitika Kakkar and Deepak Vaishnav
-TheWire.in Banks are deducting ‘crop insurance premiums’ from farmers’ current accounts without their knowledge. In the Bhivani district of Haryana, a 49-year-old farmer, Bansi Lal, complained that Rs 2,480 was deducted from an account that was linked to his Kissan Credit Card (KCC), without his knowledge. Upon enquiry, the bank informed him that the money was deducted under the Pradhan Mantri Fasal Bima Yojna (PMFBY). But when he told the bank that...
More »Does the Banking System Really Want to Help Farmers? -Devinder Sharma
-TheWire.in The corporate sector is responsible for 70% of the country’s NPAs, but their loans are being waived off while waiving farming loans is still being frowned upon. The Gujarat government gave a loan of Rs 456.79 crore to the Tatas to set up the Nano plant at Sanand, near Ahmedabad. The Gujarat government has acknowledged that the massive loan was given at an interest of 0.1%, to be paid back in...
More »Crashing sales, fear of vigilantes push cattle farmers to the edge in Yogi Adityanath's UP -Gulam Jeelani
-Hindustan Times Dhanaura (Bulandshahr): Every Wednesday, until two weeks ago, farmers from Dhanaura, adjoining villages and beyond would sell at least 500 spent (no longer productive) buffaloes to meat traders at this licenced weekly market in Uttar Pradesh’s Bulandshahr, about 80 km from Delhi. Not anymore. On March 29, the second Wednesday since the Yogi Adityanath-led Uttar Pradesh government launched its crackdown on illegal slaughterhouses, it was not business as usual at...
More »The great Finance Bill trick -Niranjan Sahoo
-DNA The political funding reforms are an embarrassment to India’s claims of heralding a transparency revolution Following Prime Minister Narendra Modi’s demonetization drive and his expressed desire to bring transparency in political funding, there were expectations of more concrete measures to cleanse the Augean stables of Indian politics. The government responded quickly, albeit through the Finance Bill. For the first time, the Union Budget 2017 devoted a full section (420...
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