-The Indian Express Government should explore all avenues to expand capital expenditures From a level of 8.1 per cent in the fourth quarter of 2017-18, quarterly GDP growth fell to 5 per cent in the first quarter of 2019-20, a fall of 3.1 percentage points. The slowdown of the Indian economy is no longer in dispute. Thankfully, the government has come out of denial mode. The critical question is: What should...
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Financial exclusion: 40.9 per cent of small, marginal farmers not covered by banks -George Mathew
-The Indian Express Despite so many initiatives and schemes aimed at financial inclusion, only 40.90 per cent of SMF could be covered by the scheduled commercial banks (SCBs), the report submitted by the RBI panel has said. The Reserve Bank of India’s Internal Working Group (IWG) to review agricultural credit — headed by Deputy Governor MK Jain — has raised several concerns on the farm front as lakhs of small and...
More »RBI panel questions efficacy of populists schemes for farmers, in favour of more structural changes -Atmadip Ray
-The Economic Times The group is also in favour of revising the sub-target for small and marginal farmers to 10% from the existing 8% of adjusted net Bank Credit with a roadmap of two years. KOLKATA: A Reserve Bank of India working group on agricultural credit has questioned the efficacy of populist measures such as debt waiver and interest subsidy on crop loans, while suggesting a slew of structural changes to boost...
More »Slowdown stories from India's heartland -Sayantan Bera
-Livemint.com With sliding incomes, rural households are struggling to stay afloat and are curtailing consumption of essential goods Vidisha/ New Delhi: Ram Babu, who runs a hole-in-the-wall grocery store in Nateran village nestled deep inside Madhya Pradesh’s Vidisha district, doubles up as a daily wager. However, with villagers cutting on small purchases, sales in his shop are down. Moreover, landless households dependent on wage labour are unable to find work—a day of...
More »Dumb and Dumber: Facing slowdown, govt squeezes expenditure -Subodh Varma
-Newsclick.in Rather than spending more, government expenditure by July 2019 is less than what it was last year as share of annual budget, with key public welfare related ministries cutting most. India is facing an unprecedented slowdown of the economy with GDP growth slumping to 5% in the June quarter, agriculture growing by only 2% and manufacturing by a mere 0.6%. Private consumption expenditure – spending by families on consumption – has...
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