-The Hindu Report concedes that farmers couldn’t buy seeds due to cash crunch. Millions of farmers in India were unable to buy seeds and fertilisers for their winter crops because of Demonetisation, according to a report submitted by the Union Agriculture Ministry to the Parliamentary Standing Committee on Finance. This official acknowledgement of the impact of Demonetisation comes on a day when Prime Minister Narendra Modi, speaking at a rally in Jhabua, Madhya...
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Factors underlying the Centre-RBI conflict -Narendar Pani
-The Hindu Business Line Realising that DeMo pulverised MSMEs, an anxious Centre wants to hurriedly make amends. But loan disbursals may not help The spat between the government and the RBI is primarily in the realm of macroeconomic issues like the size of the reserves the central bank should hold and the methods of monitoring loans that could go bad. Yet, the political intensity of the government’s moves cannot be missed. Apart from...
More »Amid institutional decline -Arun Kumar
-The Hindu The issue today is whether a dishonest system can be managed honestly Allegations of interference in major institutions have been the big news of late. The ongoing fracas in the Central Bureau of Investigation (CBI) has got out of hand, with the two top officials in the chain of command accusing each other of corruption. The recent pronouncements in the Supreme Court do not promise an early resolution. The fight against...
More »RBI data counters RBI claim: Credit to small firms shrinks -Sandeep Singh
-The Indian Express On October 30, at the meeting of the Financial Stability and Development Council chaired by Jaitley and attended by Urjit Patel among others, the central bank is learnt to have downplayed the issue of liquidity crunch. While the Reserve Bank of India said two weeks ago that there is no sign of a liquidity crunch, its own latest data shows that banks’ credit outstanding to the Micro, Small and...
More »CAG 'deliberately delaying' report on Rafale deal, Demonetisation: Former bureaucrats
-The Economic Times NEW DELHI: Sixty retired bureaucrats have written to the CAG expressing concern over audit reports on Demonetisation and the Rafale deal being "deliberately" delayed to not "embarrass" the NDA government till next year's general elections. In a letter, they said there was concern over the "unconscionable" and "unwarranted delay" in bringing out the audit reports on Demonetisation and the Rafale fighter jet deal, and the reports should be...
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