-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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How will farm loan waivers impact the Indian economy? -Tadit Kundu
-Livemint.com Farm loan waivers will strain the Finances of states, and harm both farmers and banks over the long run In its policy statement released last week, the monetary policy committee (MPC) of the Reserve Bank of India (RBI) pointed out that the implementation of farm loan waivers across states could hurt the Finances of states and make them throw good money after bad, and stoke inflation. How much of an impact will...
More »States are failing to spend their education budgets - because the budgets are too low -Shreya Roy Chowdhury
-Scroll.in Chronic underspending on education has created governance systems that are unable to use the allocated funds. The Comptroller and Auditor General of India has found that states failed to spend over Rs 10,000 crores made available to them for elementary education every year between 2010-’11 and 2015-’16. The auditor’s report, which was tabled in the Lok Sabha on July 21, reviewed the implementation of the Right of Children to Free and...
More »India vulnerable to cyber crime, must upgrade defence: Study
-The Times of India NEW DELHI: Demonetisation and the subsequent push for digitisation has escalated risks relating to cyber crime and India needs to urgently upgrade its defences by setting up a cyber security commission on the lines of the Atomic Energy and Space Commissions, according to an IIT Kanpur study shared with Parliament's committee on Finance. Noting that the government has initiated a number of programmes to enhance the participation of...
More »CAG raps govt-owned banks for understating non-performing assets -Indivjal Dhasmana
-Business Standard Govt told to be consistent on capital infusion criteria The Comptroller and Auditor General of India (CAG) has slammed the managements and statutory auditors of 12 public sector banks (PSBs) for overstating their net profit, by underestimating non-performing assets (NPAs) and under-providing for these bad assets during 2016-17. Also, there were differences in the classification of and provisioning for assets between five banks and the Reserve Bank (RBI) but as the...
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