-The Hindu Private companies get loansat 6.5% with additional cash refunds; for farmers it is 7% The National Bank for Agriculture and Rural Development (NABARD), which is dedicated to promoting rural development by providing soft loans to State governments for social sector projects, has given hundreds of crores as loans to corporates on concessional terms. In the Union Budget of 2011-12, Rs. 18,000 crore was allocated by the Centre to NABARD’s Rural Infrastructure...
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India’s employment elasticity almost zero-Manas Chakravarty
-Live Mint High growth hasn’t led to more jobs The years between 2004-05 and 2009-10 saw some of the highest rates of gross domestic product (GDP) growth for India. The problem, however, is that this high growth hasn’t led to more jobs. Employment elasticity—which is a measure of how employment varies with economic output—has come down dramatically. The Planning Commission says that employment elasticity has come down “from 0.44 in the first half...
More »Russia’s insistence on U.N. control over the Internet could see collapse of global meet -Shalini Singh
-The Hindu It’s Russia, China, and Arab states versus E.U., U.S. and Japan; India is silent The December 3-14 World Conference on International Telecommunications (WCIT) in Dubai, could collapse if Russia does not back off from its proposal to bring the Internet under the control of the International Telecommunications Union (ITU), thereby subjecting the web to inter-governmental regulation. At the conference’s plenary session, China, Saudi Arabia, Iran and Kazakhstan backed the Russian proposal,...
More »Start now, fix later -Samar Halarnkar
-The Hindustan Times Indians love slogans. So, since Independence, successive governments have offered catch lines to their electorates. Some slogans were inopportune because they were of dubious accuracy. Jawaharlal Nehru’s 1950s ‘Hindi-Chini bhai-bhai’ — Indians and Chinese are brothers — (even Nehru did not believe this), led to a battlefield defeat. The Congress’ 1975 Emergency-era ‘Indira is India and India is Indira’ and the BJP’s 2004 ‘India Shining’ were electoral disasters. Some...
More »All to the sweat shop-Bhavdeep Kang
-Tehelka Here are the gaping holes in the argument for FDI in retail. No smooth talk can pave over it TOUTED AS a cure-all for India’s economic ills, Foreign Direct Investment (FDI) in multi-brand retail is at best an anodyne, and at worst, toxic. It is an attempt to lift markets by fabricating sentiment; signalling an economic turnaround without any concrete steps being taken to trim the fiscal deficit or boost manufacturing. All...
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