-The Hindu We need to revisit the credit policy with a focus on the outreach of banks and financial inclusion Since Independence, one of the primary objectives of India’s agricultural policy has been to improve farmers’ access to institutional credit and reduce their dependence on informal credit. As informal sources of credit are mostly usurious, the government has improved the flow of adequate credit through the nationalisation of commercial banks, and the...
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World Bank's False Praise Pleases Besieged Modi -Subodh Varma
-Newsclick.in A World Bank study ignores slumping economy and raging joblessness to praise ‘reforms’. A charming little bromance seems to be brewing between the World Bank and India’s Modi-led government. A series of reports by the World Bank has praised Modi for various kinds of “reforms”. The latest is the so called “Doing Business” report of the World Bank which lavishes praise on the Modi govt. for making it easier to do...
More »Gujarat farmers unlikely to benefit from sops doled out by State govt -Rajalakshmi Nirmal
-The Hindu Business Line Costs, prices, credit issues are a challenge, just as in other States Ahead of the Assembly elections, the Gujarat government has announced a slew of measures to woo rural voters. This includes waiver of GST on equipment used in micro-irrigation, 0 interest on loans up to ?3 lakh for farmers, and a bonus of ?500 per quintal on cotton. But these sops are not likely to make farmers in...
More »Gujarat model: The gleam of state's high growth numbers hides dark reality of poverty, inequality -Maitreesh Ghatak
-Scroll.in An analysis of data shows that the Gujarat model is a bubble waiting to burst. The Gujarat economy continues to be an enigma. In 2014, many considered the state’s economic performance nothing short of miraculous and credited it to the magic touch of Narendra Modi, then the four-term chief minister of the state. This even led to the coinage of a new term: Modinomics. Three years later, as Gujarat heads...
More »From 'Job-less' to 'Job-loss' Economy: What is PM Modi Doing -Savera
-Newsclick.in The falling work participation rate shows that the economy is in deep crisis. Various other economic indicators show this as well. In a stark and chilling confirmation of what the whole country has known for some time, a govt. report shows that Indian workforce (those actually working) declined from about 54% of the working age population in 2011-12 to 51% in 2015-16. While the working age population increased by 2.9% per...
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