-The Indian Express Farmers getting lower prices for their produce, much lower than the minimum support prices announced by the government for the kharif crops this year, has hit the rural consumption demand story. New Delhi: The consumption-driven story of India’s economic growth is expected to face a slowdown as wide concerns emerge about the weakening rural demand. At a time when public expenditure is likely to be curtailed by the obligation...

-The Indian Express There were 5,917 instances of bank fraud in 2017-18 as against 5,076 cases the previous year, show the data released Friday. Fraudsters have looted Rs 41,167.7 crore from the banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”, according to data released by the Reserve Bank of India (RBI). There were 5,917 instances of bank...

-The Economic Times The world is no stranger to farm debt crises like the one India is seeing today. Back in the 1980s, the Canadian parliament enacted a law to stop foreclosures on farm debt, after prices collapsed and interest rates jumped to as high as 24%. The law was in force for a dozen-odd years. It identified insolvent farmers, facilitated agreements between the borrowers and lenders, and helped some farmers move...

-The Times of India NEW DELHI: The Centre is working on a plan to provide relief to farmers and is weighing options on a direct benefit transfer scheme for the distressed sector modelled on the Telangana system. Several rounds of discussions have been held and the view emerging within the government favours a limited direct benefit transfer scheme to help small and marginal farmers meet expenses for seeds, fertilisers, pesticides and labour. Sources...

-Centre for Financial Accountability blog The institution of Comptroller and Auditor General (CAG) in India is patterned on the British model. In Britain, The Exchequer & Audit Department Act of 1866 created the office of CAG with a view to strengthen democracy and exercise parliamentary control over national Finances. The office of CAG came into being, thanks to the missionary zeal of William Gladstone who was Finance Minister at the time...