-The Indian Express Substantial number of interest subvention scheme loans are diverted to non-agricultural uses. Government must switch to an income-support subsidy regime The Union budget for 2016-17 has provisioned Rs 15,000 crore on account of interest subvention for short-term agricultural credit, up by Rs 2,000 crore over the revised estimate for FY16. The mere shifting of this line item from the department of financial services to the department of agriculture...

-The Hindu Business Line New Delhi: The Centre will work out a strategy for crop production for the coming kharif cropping season keeping in mind the recent crop damage due to unseasonal rain and moisture stress and deficit monsoon last year. The strategy will be thrashed out at a national conference on kharif 2016 next week. The kharif cropping season is from July to October during the South-West monsoon. “The South-West monsoon of the...

-The Indian Express There is a mounting employment crisis in India. The current growth model, built on large private investments, cannot address the problem. Union Minister Ram Vilas Paswan raised many hackles with his demand for affirmative action or job reservations for Scheduled Caste and Scheduled Tribe candidates in the private sector. He suggested that “providing quota in private jobs will help cool down anger among SC and STs”, thereby stemming...

-The Hindu Business Line Hyderabad: The three-day Kisan Swaraj Sammelan, which concluded here on Sunday, has called for an income guarantee scheme for farmers. The meeting, attended by farmers’ representatives and non-governmental organisations, from 25 States in the country, demanded that the Union government must bring out an Act to ensure minimum incomes for farmers. In a declaration announced at the end of the three day convention, the conference called for enactment...

The budgetary support to interest subvention scheme has increased by almost 14 times between 2006-07 and 2016-17. However, the much-touted subsidised short-term credit scheme provides little help to the small and marginal farmers, apart from tenant farmers. According to the Committee on Medium-term Path on Financial Inclusion, which submitted its report in December 2015, the interest subvention scheme suffers from 3 types of defects: i. Subsidised credit may not be...