-The Indian Express The ingenious plan, a brainchild of state Finance Minister TM Thomas Isaac, was formally rolled out earlier this week in Meenangadi, a panchayat of 33,000 people curled up in the Western Ghats hills in Wayanad district. Kochi: In a bid to encourage planting and preserving trees and thereby reduce carbon footprint, a village in Kerala has kickstarted a project that will allow farmers to mortgage the trees on their...
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A fiscal crisis: Why FCI needs provisioning in food subsidy budget -Sandip Das
-Down to Earth Mounting expenses, under-provisioning of food subsidy budget leading to a huge debt is highly worrisome A fiscal crisis has been brewing in the last few years. Mounting food subsidy arrears — payable to the Food Corporation of India (FCI) due to ‘under-provisioning’ of food subsidy expenses in successive union budgets — has forced FCI to take loans to finance its operations. FCI is the central agency that manages procurement, storage...
More »Academics and CSOs from 87 countries call for an end to IMF's austerity drive so that countries can undertake fiscal measures for economic recovery
-Statement by over 500 organisations and academics from 87 countries against IMF's austerity drive, dated 6th October, 2020 More than 500 organisations and academics from 87 countries have issued a statement today calling on the International Monetary Fund (IMF) to stop promoting austerity and instead support policies that advance gender justice, reduce inequality, and put people and planet first. The IMF has already begun locking some countries into long term austerity-conditioned loans,...
More »China loan horse without a mouth -Imran Ahmed Siddiqui
-The Telegraph Modi govt formally confirms that India took two loans totalling Rs 9,202 crore from a Beijing-based multilateral development bank in the thick of the border standoff June 15: Chinese troops kill 20 Indian soldiers in the Galwan Valley. June 19: India signs a loan agreement with the Asian Infrastructure Investment Bank (AIIB) for $750 million (Rs 5,521 crore) to support measures undertaken under the Pradhan Mantri Garib Kalyan Yojana (PMGKY). China...
More »RBI may not extend moratorium on repayment of loans beyond Aug 31: Report
-Business Standard The six-month moratorium period comes to an end on August 31 The Reserve Bank is unlikely to extend the moratorium on repayment of bank loans beyond August 31 as an extension could impact the credit behaviour of borrowers without resolving the issues being faced by them following the outbreak of the Covid-19, sources said. The RBI had announced a moratorium on repayment of debt for six months beginning March 1, 2020...
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