-Hindustan Times In signs of rising disparity in wealth distribution, only 928 households own a fifth of India's private wealth, according to a report by the Boston Consulting Group. The percentage of private financial wealth those 928 households own is 20%, the BCG report titled 'Global Wealth 2015: Winning the Growth Game' said. The number of such ultra high net worth households stood at 284 in 2013, and is projected to account for...
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Plan panel’s tale of failed reform bids -Charu Sudan Kasturi
-The Telegraph New Delhi: Prime Minister Narendra Modi's decision to dismantle the Planning Commission has led to revelations from some of the body's former stalwarts about past attempts to reform the Soviet-era institution that were repeatedly thwarted, culminating in a tense farewell for Manmohan Singh last May. The panel that has steered India's economic management and vision for 64 years without any constitutional mandate has needed radical surgeries for years but was...
More »India up one slot, 15th on millionaire households list
-PTI New York: India had 175,000 millionaire households in 2013, ranking 15th in the world, according to a wealth report which said the total number of millionaire households in the world rose to 16.3 million last year. The Boston Consulting Group's 14th annual report on the global wealth-management industry ‘Riding a Wave of Growth: Global Wealth 2014' said global private financial wealth grew by 14.6% in 2013 to reach $152 trillion. The rise...
More »NABARD scraps controversial scheme for corporate warehousing -Shalini Singh
-The Hindu The National Bank for Agriculture and Rural Development (NABARD), whose funding of corporate warehousing projects on terms far softer than those offered to poor and often suicidal farmers was highlighted by The Hindu last month, has withdrawn its controversial scheme with retrospective effect under pressure from the Reserve Bank of India. The minutes of a meeting of the sub-committee of the NABARD Board held last month confirm that the RBI...
More »As farmers suffer, NABARD offers soft loans to corporates-Shalini Singh
-The Hindu Private companies get loansat 6.5% with additional cash refunds; for farmers it is 7% The National Bank for Agriculture and Rural Development (NABARD), which is dedicated to promoting rural development by providing soft loans to State governments for social sector projects, has given hundreds of crores as loans to corporates on concessional terms. In the Union Budget of 2011-12, Rs. 18,000 crore was allocated by the Centre to NABARD’s Rural Infrastructure...
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