-DNA What is worse is that just the top 30 cases of default account for a Rs 1.21 lakh crore, which is almost 40% of the Non Performing Assets (NPAs) in banks. The upper middle class, who usually takes loans of over Rs 1 crore, accounts for 33% of the total NPAs. It's not the poor farmers or the middle class who are defaulting on their loans. It's the country's super rich,...
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India's rich got richer under UPA-II, will get wealthier under Modi govt
-Hindustan Times In signs of rising disparity in wealth distribution, only 928 households own a fifth of India's private wealth, according to a report by the Boston consulting group. The percentage of private financial wealth those 928 households own is 20%, the BCG report titled 'Global Wealth 2015: Winning the Growth Game' said. The number of such ultra high net worth households stood at 284 in 2013, and is projected to account for...
More »Govt. shows laxity in battle against malnutrition
The fourteenth Public Accounts Committee (2014-15) report, submitted to the 16th Lok Sabha in April this year, has found that despite various interim orders issued by the Supreme Court from time to time (based on a writ petition that was filed by People’s Union for Civil Liberties in April, 2001), the Government of India has failed to universalize the Integrated Child Development Services (ICDS) scheme. This means India has to...
More »Clouds of gloom -Niranjan Takle
-The Week Vagaries of the weather are not the only reason for Marathwada's agrarian crisis Three widows, two daughters and an overwhelming sense of grief occupy the house of the Palwes in Kekat Jalgaon in Paithan, Aurangabad. The house lost all its men there were three in the past three years. The Palwe widows, Yashoda, Chandrabhaga and Lakshmibai, and Yashoda's two daughters, Suman, 8, and Sarita, 6, live in a hut without...
More »The inclusion project -Shamika Ravi
-The Indian Express A little more than a week ago, World Bank chief Jim Yong Kim praised Prime Minister Narendra Modi for launching the Pradhan Mantri Jan-Dhan Yojana (PMJDY), which he called an “extraordinary effort” at financial inclusion. According to the Union finance ministry, India has attained 99 per cent financial inclusion, measured as households’ access to bank accounts. Within three months of launching the PMJDY, the government entered the Guinness...
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