“Punjab has suffered only Debt, serious illnesses and polluted and scanty water sources” Appealing to the farmers and policy-makers to not emulate the Punjab model of Green Revolution, some farmers from Punjab said here on Sunday that the revolution had completely ruined the State. “Punjab is now called the cancer capital of India. The Green Revolution has given farmers only three things: Debt, serious illnesses and polluted and scanty water sources,”...
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Prabhat Patnaik, Professor at CESP, Jawaharlal Nehru University and vice-chairman of the Planning Board of Kerala interviewed by R Krishna
Last month, leaders from 185 countries met in New York to take stock of progress in achieving the Millennium Development Goals (MDGs) — which include, among other things, eradicating poverty and hunger, reducing child mortality, improving maternal health — that were set in 2000 by the United Nations. The aim was to achieve these goals by 2015. But 10 years down the line, the world is way behind targets in achieving...
More »MFIs cannot collect interest more than the principal
The accumulated interest collected by microfinance institutions (MFIs) on loans shall not exceed the principal amount, according to the much-awaited ordinance promulgated by Governor E.S.L. Narasimhan here on Friday to put a check on their activities. However, the interest rate chargeable by the MFIs finds no mention in the ordinance as the government is of the view that this falls under the purview of the Reserve Bank of India (RBI), according...
More »Punjab Dy CM requests RBI Governor to promote Debt swap scheme for farmers
The Punjab Government Thursday requested the Reserve Bank of India that it should impress upon Public Sector banks to aggressively promote Agricultural Debt Swap scheme to free the farmers from the clutches of moneylenders. The Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal raised this issue when Dr. D. Subbarao, Governor, RBI today called on him. The Deputy Chief Minister impressed upon the Governor that the Punjab farmers reeling under Rs....
More »Subsidy made state one of worst performers
The subsidy-driven development model of Punjab is one of the reasons why state is the worst performer in the country on economic equality front measured through Gini co-efficient. Not only this, revenue collection is the lowest in the country at 6.86% as against a national average of 10-12%. Subsidy is going to only the rich with peasants being pushed out of agriculture. It has come to focus as its reduction is...
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