-The Hindu MHRD data also indicates variation in size of loans disbursed, with OBCs, SCs and STs receiving lower amounts on average Around 70% of the education loans disbursed in the country appear to be going to upper caste students, data on a government-funded surety scheme for educational loans furnished by Ministry of Human Resource Development (MHRD) in the Lok Sabha has indicated. The data provided was on the Credit Guarantee Fund Scheme...
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Why are resident Indians remitting more money abroad than ever before?
-TheWire.in From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. New Delhi: Indians sent more money out of the country than ever before in July 2019 under the liberalised remittance scheme (LRS), in a development that comes even as the Narendra Modi government looks to attract foreign direct...
More »Professor Amiya Bagchi, Marxist economist, interviewed by Subhoranjan Dasgupta (The Telegraph)
-The Telegraph "The government has miserably failed to stimulate the domestic economy. It has spent less and less on public education, healthcare and infrastructure because of its erroneous policy" The Modi government has an ambitious plan to create a $5-trillion economy in the next five years — but all data points are heavily stacked against it. The economy is floundering and the Reserve Bank of India has already trimmed its growth forecast...
More »Policy by Whatsapp: A disregard of consequences in governing the new India -Samar Halarnkar
-Scroll.in Democracy requires a national character that isn’t grounded in ignorance and government policy that is not a sophisticated version of Whatsapp. It is now clear – 1,020 days after Prime Minister Narendra Modi told India he was wiping out 85% of its currency, by value – that demonetisation was not just a failure but a spectacularly misconceived move. That its destructive effects took at least 100 lives in its immediate aftermath,...
More »Corporate tax reduction: They already pay much less than required effective -Subodh Varma
-Newsclick.in Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents. There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out...
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