-DNA What is worse is that just the top 30 cases of default account for a Rs 1.21 lakh crore, which is almost 40% of the Non Performing Assets (NPAs) in banks. The upper middle class, who usually takes loans of over Rs 1 crore, accounts for 33% of the total NPAs. It's not the poor farmers or the middle class who are defaulting on their loans. It's the country's super rich,...
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Who cares for the small farmer? -PSM Rao
-The Hindu Business Line Not the RBI, going by the revised priority sector lending norms, which will further reduce credit to the marginalised Prime Minister Narendra Modi has often expressed his sense of anguish at the plight of farmers. In a recent statement in the Lok Sabha, he noted that the agriculture community’s problems were “old, deep-rooted and widespread”, and stated that farmers cannot be left to fend for themselves. Implicit in that...
More »Drought factor forces NDA government to rethink on MGNREGA -Ruhi Tewari
-The Indian Express The average days of employment provided per household, too, fell to 40.01 from 45.97 in 2013-14 and 46.20 in 2012-13. From Prime Minister Narendra Modi’s public barbs against its being a “living proof” of 60 years of Congress misrule, to a proposal now for extending the annual work entitlement to 150 days in drought-affected areas, the BJP-led government’s disposition towards the Mahatma Gandhi National Rural Employment Act (MGNREGA)...
More »The importance of good harvests in state elections - Roshan Kishore
-Livemint.com Sharp agriculture growth is a necessary factor to beat anti-incumbency The modest price hike in minimum support prices of some crops this week has been lauded as good economics. But the question that will be haunting the government is whether it has done enough to alleviate the distress in rural areas, especially when the Bihar polls later this year are seen as a litmus test for the rule of the...
More »Centre increases number of work days under MGNREGA -Ruhi Tewari
-The Indian Express The central government will increase the number of workdays under the rural job guarantee scheme from 100 to 150 in drought-affected areas, said sources. The NDA government is all set to increase the number of workdays under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) — a flagship scheme of the UPA government it had openly criticised earlier — in areas which may be affected by the...
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