-The Indian Express Substantial number of interest subvention scheme loans are diverted to non-agricultural uses. Government must switch to an income-support subsidy regime The Union budget for 2016-17 has provisioned Rs 15,000 crore on account of interest subvention for short-term agricultural credit, up by Rs 2,000 crore over the revised estimate for FY16. The mere shifting of this line item from the department of financial services to the department of agriculture...
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Freedom in peril -R Ramakumar
-Frontline The government’s passage of the Aadhaar Bill in complete disregard of even basic parliamentary procedures and in subversion of an ongoing judicial process puts at risk a number of constitutional rights and liberties of citizens. The benefits cited are just ploys to realise a neoliberal dream. “Congressmen are dancing as if [Aadhaar] was a herb for all cures. With the Supreme Court pulling up the Centre, people are now seeking...
More »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 »Social activists dissatisfied with budgetary allocations
-Press Release from Delhi Pension Parishad Activists from seven major campaigns stated unequivocally that the Union Budget for 2016-17 far from ‘Transforming India’, as claimed by the Finance Minister, Shri Arun Jaitley, is neglecting the interests of farmers, the poor and vulnerable both in nominal and real terms and subjecting every life-affirming program to severe budget cuts. Activists from seven major campaigns such as the Right to Food Campaign , the...
More »Budget 2016, through a prism of the poor -Brinda Karat
-The Indian Express Gamlina’s response is just one example of how distant this government is from the lives of the poor and how tokenistic its schemes are. Gamlina Soren, an elected panchayat member in Jharkhand, sounded upset. She had been told by a local BJP functionary that gas cylinders were going to be “gifted” to poor women by the Centre but that they must have a BPL card. “But most poor Adivasi...
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