-The Hindu The agenda to set up a development bank is a welcome initiative, but questions remain on its design Finance Minister Nirmala Sitharaman’s press conference on August 23, announcing a slew of measures to boost the economy and financial market sentiments, had an interesting idea. It was about setting up a development bank. Ms. Sitharaman said: “In order to improve access to long-term finance, it is proposed to establish an organisation to...
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Aruna Roy, well-known social and political activist, interviewed by Jipson John and Jitheesh PM (Frontline.in)
-Frontline.in Interview with Aruna Roy. ARUNA ROY is a well-known social and political activist. A former Indian Administrative Service officer, she resigned from the IAS in 1975 and has since worked with the most oppressed in society. Aruna Roy’s observation on government service is indicative of her future concerns: “Everyone calls it an elite service; I always felt the discourse should be a bit better than what it was. I was shocked...
More »Agricultural Loans Worth Rs 59,000 Crore Went to 615 Accounts in One Year -Dheeraj Mishra
-TheWire.in Agricultural experts say that large corporations are being given 'agricultural' loans at cheaper interest rates and with easier regulations in the name of farmers. New Delhi: Government banks handed out Rs 58,561 crore to 615 accounts in agricultural loans in the year 2016. On average, each account has been given over Rs 95 crore in agricultural loans. This information was revealed by the Reserve Bank of India in response to a Right...
More »Gujarat is offering 0%-interest loans to farmers but its record on long-term support is patchy -Nitin Sethi
-Scroll.in The state’s expenditure on agriculture and irrigation has fallen since 2013-’14. In the run-up to the Gujarat assembly elections, Chief Minister Vijay Rupani on October 16 announced that his government would offer interest free-loans to farmers who borrow up to Rs 3 lakh and pay the amount back on time. Many Opposition politics criticised this as a populist measure, aimed at garnering votes for Rupani’s Bharatiya Janata Party. Reducing the interest...
More »Rural Distress: A farmer- and banker-friendly alternative to agricultural loan waivers -Sher Singh Sangwan
-The Indian Express The failure of populist rural credit schemes stems primarily from poor understanding of farm indebtedness in the first place. From the 1970s, a lot of private investment in tube-well irrigation, farm mechanisation and allied agricultural activities took place with bank credit support. After the establishment of National Bank for Agriculture and Rural Development (NABARD) in 1982, institutional credit flows not only accelerated, but also exhibited diversification to fund livestock...
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