-Hindustan Times Launch a massive programme to rehabilitate returnee migrants; allocate an additional Rs 50,000 crore for MGNREGS; extend the free ration scheme for six more months; revive and strengthen public systems of service deliver; RBI should give a directive to Banks to extend a top-up loan of Rs 10,000 crore to Self-help Groups After the Covid-19 outbreak, 66% of rural households fell short of cash for food. About 40% reduced their...
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UP's New Special Security Force Can "Search, Arrest Without Warrant" -Alok Pandey
-NDTV.com In a series of late-night posts, the UP government Twitter handle quoted Additional Chief Secretary (Home) Awanish Awasthi as saying that "eight battalions of the UPSSF will be constituted initially at a cost of ₹ 1747.06 crore". Lucknow: A special force will be set up in Uttar Pradesh, with powers similar to the CISF (Central Industrial Security Force), that can search and arrest without a warrant, the state government said on...
More »Indian economy is heading for a K-shaped recovery and it won’t be a pretty sight -TN Ninan
-ThePrint.in K-shaped recovery means the growing gap between ‘winners and losers’. An example in India is the stock market being healthy while millions have lost their jobs. Amidst the flood of commentary that followed the finding that the world’s fastest-growing large economy had become its fastest-shrinking one, an observation that stood out was that India’s growth potential had dropped from 6 per cent to 5 per cent. Now, it has been obvious...
More »Stories of distress from small borrowers -Sayantan Bera
-Livemint.com * Across India, women borrowers are finding it tough to repay small loans. The next few months will be critical * Unless there is a sharp recovery, MFIs and Banks (with micro-loan portfolios) will have to restructure or write off loans though the situation will not be clear until November NEW DELHI: Sarama Koyal does not have a roof over her head. After the Amphan super cyclone ravaged her home in South...
More »No economic reason to privatise Banks -Aunindyo Chakravarty
-The Tribune Is there a case to be made for privatisation to help the government raise funds and reduce its fiscal burden and avoid having to recapitalise them every now and then? It is based on an entirely faulty understanding of why the govt needs to own Banks. Banks are instruments through which capital flows into the economy. Bank privatisation is a hot topic again. It kicked off when Finance Minister Nirmala...
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