On 6 February, 2023 Southern Turkey and the adjoining areas in Syria were hit by a 7.8 magnitude earthquake followed by several aftershocks. The tremors have flattened buildings and destroyed roads and other infrastructure. At least 35,000 casualties (UPDATE) have occurred across Turkey and Syria, with the vast majority being in the former nation. A news report cited the Turkish environment minister saying that 24,921 buildings across the region had collapsed. What...
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Budget Briefs: FY 2022-23 PM Awas allocation doubled, 77% houses completed - Neeha Susan Jacob, Anwesha Mallick, Avani Kapur
Accountability Initiative, Centre for Policy Research In Financial Year (FY) 2022-23, Government of India (GoI) allocated Rs 20,000 crore Budget Estimates (BEs) for the PM Awaas Yojana - Gramin, slightly lesser than the previous year’s Revised Estimates (REs). With an additional amount of Rs. 28,422 crore allocated as supplementary budget in December 2022, revised allocations stand at Rs 48,422 crore. This is more than double the previous year’s REs. In the FIRst...
More »What data told us about India in 2022 - Akshi Chawla
DeCEDA/Qrius 2022 was a milestone year for India. India walked into 2022 with an infectious wave of Covid-19 impacting lakhs of people, the wave receded a few weeks into the year. As hopes for a post-pandemic recovery surged, war in Ukraine brought in new challenges for the economy. With supply chains disrupted, global sanctions imposed on Russia, prices of fuel and food shot up. Inflation, already on a high from pent-up...
More »Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »Why India’s Balance of Payments is Headed for Hard Times -Prabhat Patnaik
-Newsclick.in The yawning merchandise trade deficit is occurring not because of any economic boom but in the midst of creeping industrial stagnation. India’s current account deficit for the second quarter (July-September) of 2022-23 has reached a massive $36.4 billion, which is 4.4% of the gross domestic product, higher than at any time in the last nine years. It is only in October-December 2012 that the absolute level of the current account deficit...
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