-TheWire.in Eighty per cent or more of the demand in the economy has vanished thanks to the lockdown he hastily announced, with no warning or preparation. The only way out is to pump money in to revive demand. In a discussion on NDTV about the contents of the third tranche of Prime Minister Narendra Modi’s stimulus package for the economy, Yogendra Yadav, one of India’s most respected psephologists, called it ‘entertainment’. Yadav...
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Most small farmers outside formal credit system. Sitharaman’s announcements won’t help them -Shoumitro Chatterjee and Mekhala Krishnamurthy
-ThePrint.in An RBI report says that despite numerous existing initiatives, at most 40 per cent of India’s small and marginal farmers are covered by formal credit. There is no doubt that agricultural credit is a critical element of both agricultural production and marketing across India. However, during a period of acute crisis, the government needs to bank on channels that are relatively robust and far-reaching. Unfortunately, especially when it comes to small...
More »Demand first, please, and then loans -Devadeep Purohit
-The Telegraph 'Wish there were announcements on government spending' Kolkata: Like many Indians, a young businessman keenly awaiting the fine print of Prime Minister Narendra Modi’s Atmanirbhar Bharat Abhiyan (Self-reliant India Mission) placed himself before a television screen around 4pm on Wednesday. The businessman did not have to brush up his language skills to understand finance minister Nirmala Sitharaman but he came away with a sense of déjà vu. “I heard that I will...
More »A plan to revive a broken economy -Harsh Mander, Jayati Ghosh and Prabhat Patnaik
-The Hindu There are clear, implementable steps the Centre can take in fiscal terms to revive the economy and support livelihoods The Prime Minister has just announced Lockdown 4.0. Despite some resulting increase in economic activity, vast numbers of working people will remain without their regular incomes. He also announced a package of ₹20 lakh crore, but this includes already allocated money of ₹6-lakh crore and monetary policy directives to Banks and...
More »Second stimulus: Govt plans targeting based on need, MSMEs to begin with -Aanchal Magazine & Sunny Verma
-The Indian Express PM wary of open-ended provisions: Fund for MSME with guarantee likely. AS the Covid pandemic and the prolonged lockdown batter all sectors of the economy, the government, sources said, is working on a rescue package that, for now, may address the needs of the micro, small and medium enterprise (MSME) segment rather than the larger corporate sector. More than six meetings have been held at the Prime Minister’s Office —...
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