-The Financial Express This is a double whammy for the poor. Despite a fall in retail inflation to 5.18% in February from a 17-month high of 5.69% in the previous month, most of the lower-income states witnessed higher retail inflation than the richer ones, reports fe Bureau in New Delhi. According to DK Joshi, the chief economist at Crisil, higher-income states like Haryana, Kerala, Uttarakhand, Maharashtra and Gujarat saw lower retail inflation...
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Why microfinance is fading out -M Sureshbabu and Arun Kumar Gopalaswamy
-The Hindu Business Line MFIs are unable to address the needs of self-help groups. They have been hit by the falling growth of SHGs There has been a long-standing debate on the ability and effectiveness of the formal banking system as a vehicle for financial inclusion. The thrust has been to increase the number of small banks, as they play a very important role in the supply of credit to small business...
More »Farms grow massive incomes for select few -Devesh K. Pandey & TCA Sharad Raghavan
-The Hindu In response to a RTI application, Income Tax Department reveals that 6.57 lakh individuals earned 20 times the GDP in 2011. Believe it or not, income figures shared by the Income-Tax Department in response to an RTI application by a retired Indian Revenue Service official has revealed that agricultural income recorded an exponential increase from 2004 to 2013, touching a total of almost Rs.2,000 lakh crore for individual assessees in...
More »Despite being around for a decade, MGNREGS continues to be plagued by leakages, fraud -Dinesh Narayanan
-The Economic Times I will never make the mistake of discontinuing M(G)NREGA; because it is a living testimony of your failures. After 60 years of Independence you had to make people dig ditches — Prime Minister Narendra Modi. In that March 2015 speech in Parliament, Prime Minister Modi taunted the Congress Party that the rural job guarantee programme Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) was required because of the party's...
More »The budget’s dangerous philosophy -Harsh Mander
-Livemint.com The government relies on for-profit big business to deliver public goods despite their inability to deliver Can we listen to the budget as an annual public statement by the government of its economic and social philosophy and intent? The centre abandoned five-year plans that earlier laid down a road map of where government policies are headed. The budget, then, is an important reality check of whether the government is literally...
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