-Down to Earth More than half of population without access to banking lives in 7 developing countries: World Bank India is among seven countries home to half the world’s 1.4 billion adults without access to formal banking, a recent World Bank report has flagged. The report also noted that in Sub-Saharan Africa, young adults (ages 15–24) make up almost 40 per cent of those without access to banking. But in some European and...
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The Hard Grind: Wheat inflation becoming hard to stomach for Indian households -Siddharth Upasani
-Moneycontrol.com India was supposed to be largely insulated from the war between Russia and Ukraine as far as prices of food items were concerned. However, there are signs that the conflict in Europe is adding to Indians' wheat bill. On April 18, data from the commerce ministry showed India's Wholesale Price Index (WPI) inflation unexpectedly rose to a four-month high of 14.55 percent in March. And while energy and metals led the...
More »Sri Lanka says it will default on its entire $51-billion external debt
-Scroll.in It has come to a point that making debt payments is impossible, the country’s central bank governor said. Crisis-hit Sri Lanka on Tuesday said it would default on its entire external debt worth $51 billion (over Rs 3.88 lakh crore) till it receives a bailout from the International Monetary Fund, AFP reported. A country’s external debt pertains to the money borrowed by it from foreign lenders through commercial banks, governments, or international...
More »The curious case of Meghalaya’s COVID-19 relief package -Rakshita Swamy and Angela Rangad
-The Hindu Audits, transparency and citizen-centric accountability need to be a part of fund support and disbursement Every COVID-19 wave in India has brought us face to face with the dire precarity of life and livelihood for India’s vast numbers of unorganised workers, and the inadequate response of the state and society to their plight. The latest global OXFAM inequality report highlights how India’s billionaires have grown dramatically in numbers and wealth,...
More »India’s Economic System Rigged in Favour of the Super-Rich, Says Oxfam Report -Ditsa Bhattacharya
-Newsclick.in The report points out that in India, during the pandemic the wealth of billionaires increased from Rs 23.14 lakh crore to Rs 53.16 lakh crore. At the same time, more than 4.6 crore Indians are estimated to have fallen into extreme poverty in 2020. While 84% of households in India suffered a decline in their income in a year marked by the tremendous loss of life and livelihoods, the number of...
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