-Newsclick.in Through “nationalised banks-NBFC” deals, the Modi government is trying to achieve what the three farm laws could not achieve. In colonial times, the peasantry had to borrow from private moneylenders. According to Provincial Banking Enquiry Committee reports, these moneylenders in turn borrowed from commercial banks. But while disbursing credit to the peasants and charging exoRBItant interest rates, the money lenders at least bore the whole of the lender’s risk. The banks...
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Finance Ministry: 99.31% of Money Returned to Circulation after Demonetisation
-MoneyLife.in Responding to a question raised by Rajya Sabha MP (member of parliament) Subramanian Swamy, the finance ministry informed the parliament that Rs10,720 crore worth of old Rs1,000 and Rs500 notes did not return into circulation after demonetisation. According to the finance ministry, when demonetisation was announced on 8 November 2016, Rs15,41,793 crore worth of withdrawn notes were in circulation. The finance ministry revealed in its written reply that, after verification and...
More »Sticky to the core
-The Hindu Business Line Besides global factors, structural inflation, which is sticky, might be setting in. The RBI should be ready November readings for wholesale and consumer price index, the first at a three decade high and the second at a more modest three-month high, are a cause for concern. They raise questions over whether the Monetary Policy Committee’s projections for retail inflation will hold. A 14.2 per cent spike in WPI...
More »Economists question Reserve Bank of India’s inflation claims -
-The Telegraph The central bank on Wednesday surprised observers when it retained its retail inflation forecast at 5.3 per cent for 2021-22 Economists have questioned the RBI’s projection that inflation will glide down to 4 per cent levels by the end of the next fiscal. They said the upward pressure on prices is likely to persist at least in the near-term on higher input costs amid supply chain bottlenecks. The RBI on Wednesday surprised...
More »Meeting the IMF, RBI forecast of 9.5% GDP growth this year now a challenge, says Dr Rangarajan -E Kumar Sharma
-Financial Express Dr Rangarajan feels that perhaps we may end the year with GDP growth in the region of 7 or 8 per cent. The much awaited news on the second quarter Gross Domestic Product (GDP) numbers showing a growth of 8.4 percent as compared to 7.4 percent contraction in Q2 2020-21, has come as a dampner. Economists now see serious challenges in India being able to hit the full year GDP...
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