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...
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Limited Room for Public Spending - Santosh Mehrotra
- Financial Express The Union Government will present its ninth and last full budget before national elections in early 2024. But none of the Growth engines inspire optimism, Santosh Mehrotra writes in Financial Express. Nearly 60 percent of India's GDP is accounted for by private onsumption expenditure. However, since demonetisation consumer expenditure has been tepid as job Growth fell sharply. Per capita consumption in 2022-23 is just above the level of 2019-20. Private...
More »Fall in India nominal GDP Growth in FY24 to challenge fiscal math - Ira Dugal
Reuters India's nominal GDP Growth is likely to fall in FY 2023-24, hurting tax collections and putting pressure on the federal government to reduce the budget gap by cutting expenses ahead of national elections in 2024. Nominal GDP Growth, which includes inflation, is the benchmark used to estimate tax collections in the upcoming budget to be presented on Feb. 1. It is estimated to be around 15.4% for the current financial year....
More »How India’s rulers have dashed the hopes of its younger citizens -Santosh Mehrotra
-Scroll.in Increasing unemployment is a major cause for concern. Politicians constantly talk about India being a young country, since two-thirds of the population is under 35 years of age and half of it below 26. Some economists consider this an automatic boon for the economy, since there is a limitless number of workers who could contribute to India’s productive capacity. Finance and investment giant Morgan Stanley, in a report released in November, identified...
More »Ravi Chopra, veteran environmentalist, interviewed by Rajat Ghai (Down to Earth)
-Down to Earth Veteran environmentalist spoke to Down To Earth about the ongoing disaster in Uttarakhand Since the past one week, a major tragedy has been unfolding in the high Himalayas of Uttarakhand. The historic temple town of Joshimath, the gateway to the shrine of Badrinath, has been witnessing scenes of panic and anger as locals protest the cracks in the area. From houses to temples to commercial establishments, nothing has...
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