In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
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Fall in India nominal GDP growth in FY24 to challenge fiscal math - Ira Dugal
Reuters India's nominal GDP growth is likely to fall in FY 2023-24, hurting tax collections and putting pressure on the federal government to reduce the budget gap by cutting expenses ahead of national elections in 2024. Nominal GDP growth, which includes inflation, is the benchmark used to estimate tax collections in the upcoming budget to be presented on Feb. 1. It is estimated to be around 15.4% for the current financial year....
More »Latest Christian Aid report identifies top 10 climate disasters of 2022
-Press released by Christian Aid dated 27 December, 2022 * Study identifies the year’s 10 costliest extreme events influenced by the climate crisis - each caused more than $3 billion in damage. * Report also examines 10 other extreme events that caused massive human and environmental damage, mostly in the poorest countries. * The floods that submerged parts of Pakistan in June displaced 7m people and caused more than $30 billion in estimated...
More »Pradyut Bordoloi, Congress parliamentarian who introduced the Climate Migrants (Protection and Rehabilitation) Bill as a private member’s bill, interviewed by Arunabh Saikia (Scroll.in)
-Scroll.in An Assam MP explains why he introduced the Climate Migrants (Protection and Rehabilitation) Bill in Lok Sabha. According to the Internal Displacement Monitoring Centre, nearly five million Indians were forced to leave their homes because of climate-related events in 2021. While many of these people were displaced temporarily, internal displacement due to climatic conditions stands to be a major challenge for India in the years to come. Rising water levels, according...
More »RBI's Inflation Mandate Failure Report Cannot Be Made Public, Government Tells Parliament
-ANI/ NDTV.com The government told Parliament that the RBI had submitted its report on the inflation target failure, but it cannot be made public. New Delhi: The government on Monday told Parliament that the Reserve Bank of India (RBI) had submitted its report on the breach of the inflation target for three consecutive quarters, but it cannot be made public per the provisions of the RBI Act. Union Minister of State for Finance...
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