-PTI The financial inclusion drive has resulted in proliferation of bank accounts in rural areas with 88.1 per cent of households having savings accounts, said a survey by Nabard. Incidence of Indebtedness (IOI), which is a proportion of households having outstanding debt on the date of the survey, was 52.5 per cent and 42.8 per cent for agricultural and non-agricultural households, respectively. All India IOI taking rural households together stood at 47.4 per...
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How Kerala plans to give free houses to homeless people -Nidheesh MK
-Livemint.com Kerala govt’s aim is to build 500 sq. ft houses costing Rs4 lakh each, for which the state has tweaked the centre’s housing programme, the Pradhan Mantri Awas Yojana Bengaluru: Building free houses for all the homeless in Kerala -- more than half-a-million at last count -- is one of the flagship projects of the Communist government. A cabinet meeting held on Tuesday night offers glimpses into the project’s nitty-gritty. The aim...
More »Jan Dhan accounts keep villagers sober, slow rural inflation: Study -Surojit Gupta
-The Times of India NEW DELHI: Village residents who opened bank accounts under the Prime Minister's Jan Dhan Yojana (PMJDY) may be saving more and cutting back on their consumption of alcohol and tobacco, a study by the economic research wing of the State Bank of India (SBI) suggests. This may have also slowed inflation in rural areas. When the PMJDY programme was launched there were fears that higher circulation of money...
More »Poor swiped out in choice-less, not cash-less, society -Aruna Roy and Nikhil Dey
-The Indian Express For the poor, with little cash in the first place, digital promises to ‘swipe’ them out, before their marginalisation is even addressed. Demonetisation is, by its very nature, an autocratic, coercive step. The demonetisation of November 2016 has affected every single Indian. We are, as usual, persuaded to bear the pain and suffering, to “sacrifice” for the nation. The rhetoric continues but it now seems clear that the objective...
More »M Govinda Rao, ex-Director, National Institute of Public Finance and Policy (2003-13), interviewed by S Rajendran (The Hindu)
-The Hindu Centre for Politics and Public Policy Prime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says M. Govinda Rao, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public...
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