-The Hindu Business Line The trend of farm loan waivers has gripped the country and Karnataka is the latest to jump on to the bandwagon. The fiscal strain of farm loan waivers on the States is worrisome. As per RBI, the gross fiscal deficit (GFD) of States rose to 3.1 per cent of GDP in 2017-18, breaching the threshold of 3 per cent GFD/GSDP ratio recommended by the Finance Commission. This threshold has...
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'Disciplined, democratic and dignified': P Sainath on the path shown to us by the Kisan Long March
-Scroll.in The Kisan Long March will leave an enduring mark, the journalist writes in the preface to a new book that documents the historic struggle. Weeks after the Long March, the idea and image still lingers – of 40,000 people walking over 200-km, the last 10-15 km in darkness and silence (as silent as it is possible for such a multitude to be). Those farmers and landless peasants walked into Mumbai,...
More »Corporates make 73% of public sector bank bad loans -Sunny Verma
-The Indian Express The Finance Ministry directed smaller PSBs to cut their corporate loan exposure to 25 per cent of their risk-weighted assets over the medium term and focus more on retail lending. Corporate loans corner the lion’s share of rising bad loans in public sector banks while retail loans have a far superior track record when it comes to timely repayment, according to the latest available Reserve Bank of India...
More »Data shows corporates are consistently favoured over rural India -Jitendra
-Down to Earth Corporate India gets indirect subsidy equivalent to 60 per cent of government expenditure on rural areas A recent analysis has revealed a shocking injustice being done consistently to rural India by the government with corporates getting subsidies at its expense. The Inclusive Media for Change, a New Delhi-based non-profit has analysed the last seven Union Budgets. It has found that indirect subsidy, termed as “tax expenditure” that was given...
More »The rising agrarian distress in India -Jayati Ghosh
-Livemint.com To stabilize crop prices and make them remunerative, the Swaminathan Commission proposed significant improvements in the implementation of MSPs Across the country, farmers are furious—and rightfully so. Four years ago, they helped bring the Bharatiya Janata Party (BJP) to power, believing Narendra Modi’s claims that they would no longer suffer official neglect. But since then, conditions in agriculture have got worse. Earlier problems have worsened as farm incomes have been squeezed...
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