-The Hindu The acceleration will leave the RBI less space to cut rates Wholesale price inflation accelerated to a 23-month high of 3.6 per cent in July, driven mainly by higher food prices, according to official data.The pace of price gains as measured by the wholesale price index more than doubled in July from 1.62 per cent in June, leaving the Reserve Bank of India even less elbow room to cut benchmark...
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30% ATMs of PSUs non-functional due to snags, no cash: RBI survey
-PTI New Delhi: An RBI survey has found that 30% ATMs of public sector banks and 10% belonging to private banks were non-functional due to technical snags and no cash, among other reasons. In a written reply to the Lok Sabha, minister of state for finance Santosh Kumar Gangwar said RBI has informed that it recently conducted a “representative sample survey” of about 4,000 ATMs situated in metro, semi-urban, urban and rural...
More »Govt hints at lower hikes in support prices for farmers -Zia Haq
-Hindustan Times The government could move away from large hikes in support prices for farmers, agriculture minister Radha Mohan Singh hinted on Wednesday, signalling a key farm policy shift aimed at rationalising subsidies and taming inflation. The minister said some people thought the “only way to shore up farmer income is through minimum support prices”. “Wrong. This alone won’t do unless farmers diversify their activities into livestock, kitchen gardens, fishery etc. That’s our...
More »Why are states turning their backs on farmers? -Roshan Kishore
-Livemint.com One year after the implementation of 14th Finance Commission recommendations, 14 states have cut back on rural spending New Delhi: At a time when everybody is talking about rural distress, it seems many state governments have decided to turn their back on farmers. Data from the Reserve Bank of India’s (RBI) Analysis of State Budgets report shows that 14 out of 31 states cut their rural spending in 2015-16 compared...
More »Wake up, smell the leakage -Ashok Gulati & Prerna Terway
-The Indian Express Substantial number of interest subvention scheme loans are diverted to non-agricultural uses. Government must switch to an income-support subsidy regime The Union budget for 2016-17 has provisioned Rs 15,000 crore on account of interest subvention for short-term agricultural credit, up by Rs 2,000 crore over the revised estimate for FY16. The mere shifting of this line item from the department of financial services to the department of agriculture...
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