-The Telegraph At least 50 people have died in rain-triggered landslides, house collapses and flash floods in the north, mostly in Uttarakhand that has halted the popular Badrinath pilgrimage with around 30,000 pilgrims, many from Bengal, stranded. Three days of incessant rain have sent into spate Uttarakhand rivers that have burst banks and washed away houses - one of them a four-storey structure that had been vacated, apart from a temple. At least...
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The great jobs disaster-CP Chandrasekhar and Jayati Ghosh
-The Hindu Business Line In much of the discussion on the turnaround after the Great Recession, attention has been focused on financial consolidation and the halting return to growth. Far less attention has been paid to the persistence of high and even rising unemployment and its sources. In the desperate search for evidence that the global recession has bottomed out and the recovery has arrived, the story told by the long-term trend...
More »Kisan credit cards buoy rural demand- Dinesh Unnikrishnan
-Live Mint In the two years to March 2012, the number of kisan credit cards grew by 28%, while the outstanding amount grew by 76% So far, the rural job-guarantee scheme, other social programmes by state governments and the raising of minimum support prices to farmers have been cited as reasons for the continued buoyancy in rural consumption and also for inflation in food items. But there could be another insidious...
More »Media demonising Muslim community: Katju
-PTI "Discrimination" against Muslims is giving rise to a feeling of injustice among them, Press Council Chairman Markanedya Katju on Sunday claimed and rebuked the media for what he described as "demonising" Muslim community through "irresponsible" journalism. "Whenever a bomb blast occurs or such incident takes place, within an hour or so many TV channels start showing that an email or sms has come from the Indian Mujahideen, JeM or Harkatuljihad-e-Islam, or...
More »Kisan Credit Cards: Bad loan bubble waiting to burst?-Dinesh Unnikrishnan
-Live Mint Subsidized loans given to farmers through KCCs could very well be the next big source of NPAs for banks Mumbai: A surge in exposure to farm debt through Kisan Credit Cards (KCCs) could emerge as a risk for India's state-run banks, according to experts. Subsidized loans are given to farmers through KCCs by state-owned banks. Until March 2012, the outstanding amount on such loans was`1.6 trillion through 20.3 million cards, as...
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