-MoneyControl.com Bihar, Kerala, Punjab, Rajasthan and West Bengal could face a crisis if they fail to curb non-merit expenditure, the central bank has warned A study of fiscal parameters of states by the Reserve Bank of India (RBI) identified Bihar, Kerala, Punjab, Rajasthan and West Bengal as highly stressed due to their high debt levels, the quality of expenditure and the level of fiscal deficit. These states could face a crisis if...
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Russia’s war in Ukraine is crushing Sri Lanka’s $81 billion economy -Anusha Ondaatjie
-ThePrint.in Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka is racing to avert a default amid dwindling forex holdings. Colombo: Russia’s war in Ukraine, which has caused a humanitarian crisis and convulsed global financial markets, is now threatening to crush an $81 billion economy more than 4,000 miles away in the Indian Ocean. Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka...
More »How India can foster economic democracy -Ejaz Ghani
-The Hindu Business Line At present, panchayats make no contribution to the design of schemes. Their autonomy is negligible. This needs to change Decentralisation has long been recognised as an efficient instrument for promoting economic democracy, and delivering services to meet the needs of people. There are three different channels for decentralisation — political, administrative and fiscal. Political decentralisation promotes trust and cooperation between government agencies and citizens. Administrative decentralisation enables authority...
More »How Suburban, Rural Youth are Being Sucked Into Instant Loan Apps ‘Trap’ -Sashwata Saha
-Newsclick.in Harassment by loan recovery agents hired by these apps has led to at least 21 suicides across India between 2020 and 2021. Meghna Patel took her first loan early in 2020 from an app called FlyCash, whose ads she had been seeing on Facebook. It was a small amount. Just Rs 500. She had to repay Rs 550, two weeks later. The app even had a borrowing limit of Rs 1,000. Recently,...
More »India’s ‘Panama Papers’ on shell firms, tax loopholes gather dust -Gopikrishnan
-DailyPioneer.com Tax firm’s leaked data includes correspondences with 33 Cos, HNWIs India’s own ‘Panama papers’ are gathering dust with law enforcement agencies and the Delhi High Court (HC). The 1.5 GB leaked data belongs to the tax consulting firm Nishith Desai Associates and includes controversial tax-related correspondences involving 33 of India’s biggest corporates and several high-net-worth individuals (HNWIs). A Delhi-based whistle-blower, who is a software engineer, first got the sensational data and communications...
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