-ANI Aurangabad: Absence of proper rainfall has risked the farmlands of Aurangabad district in Maharashtra and lack of subsequent effective government intervention is leaving farmers with no option but suicide. According to climate report of researchers there are high chances of climatic conditions similar to El Nino effect to occur in 14 districts in Maharashtra. Farmers of Marathwada region in Aurangabad have been experiencing difficult times for the last three years. The...
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Who foots the huge dole for business? -Latha Jishnu
-Down to Earth Bad loans of public sector banks to business are more than double the food subsidy There are some things you simply do not do in the liberalised economy. You do not put bank loans under the lens-unless these are ballooning out of control. That is, until such loans are likely to jeopardise the entire banking system and send the economy into a tailspin. And there's another thing: you don't...
More »Spending on subsidies surged, education and health lagged during 10 years of UPA -Sidhartha
-The Times of India NEW DELHI: When finance minister P Chidambaram presents his first interim budget on Monday, he is expected to devote a significant chunk of his speech - which may be between 12 and 18 pages - to UPA government's spending on social sector schemes, especially health, education and rural development. But what is probably going to slip through is the fact that these sectors actually witnessed a comparatively...
More »UP sugar mills run 'ponzi scheme' to pay farmers' dues -Anil Sasi
-The Indian Express On the surface, the sugar crisis in Uttar Pradesh may seem to be inching closer to a resolution. But cane farmers may have unwittingly mortgaged their land, signing up for crop loans from public sector banks, with the money so raised being used by the mills to pay arrears of a different set of farmers. This model, of mills rotating working capital loans from banks, to deliver pending payouts...
More »Rs 1 lakh crore bad loans of corporates written off: RBI-Mayur Shetty
-The Times of India MUMBAI: Data collected by Reserve Bank of India over a period of one year blows the lid off what goes as loan classification in banks. In a presentation at the annual bankers' conference, RBI deputy governor K C Chakrabarty showed how banks have sacrificed over Rs 1 lakh crore by writing off bad loans to corporates, which is much higher than Union finance minister P Chidambaram's farm...
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