-The Hindu “As per RBI data, scheduled commercial banks (SCBs) have written off loans of ₹2,36,265 crore, ₹2,34,170 crore and ₹1,15,038 crore during FY2018-19, FY2019-20 and the first three-quarters of FY2020-21 respectively,” the Minister said. Banks have written off bad loans to the tune of ₹1.15 lakh crore in the first three-quarters of the current fiscal, the Lok Sabha was informed on March 8. As per RBI guidelines and policy approved by bank...
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Nirmala dismisses report on human rights in India
-The Hindu Says think tank has not even got country’s map correct Finance Minister Nirmala Sitharaman lashed out at the U.S. think tank Freedom House — which has downgraded India’s status from “free” to “partly free” — accusing the body of not even getting the “Indian map” correct. The Information and Broadcasting Ministry on behalf of the government also issued a statement calling the report “misleading, incorrect and misplaced”. Speaking to reporters at...
More »The pandemic has hampered social auditing of MGNREGA
When a massive sum of public money is spent on a programme like Mahatma Gandhi Rural Employment Guarantee Programme (MGNREGA)--a demand-driven programme, there is likelihood of financial misappropriations and mismanagement. Thankfully there are checks and balances in the rural employment guarantee legislation to counter such malpractices. It is worth noting that the total allocation under the Mahatma Gandhi Rural Employment Guarantee Programme (MGNREGA) for 2020-21 was Rs. 1,11,500.00 crore (R.E.), up...
More »Municipal budgets can make a real difference to citizens’ lives. Here’s how. -Srikanth Viswanathan
-The Indian Express Evidence suggests that citizen participation in budgeting and closer engagement in the monitoring of civic works results in better outcomes and fewer leakages. The budget season is upon us. The Union budget, which lays out the receipt and expenditure proposals of the Government of India, is an annual feature in Parliament on February 1. It receives extensive press coverage — in fact, it sends both TV and print media...
More »Union Finance Minister Nirmala Sitharaman interviewed by Raghuvir Srinivasan, Aarati Krishnan and Parvatha Vardhini C (The Hindu Business Line)
-The Hindu No decision taken yet on which banks will be privatised, Finance Minister says. Fresh from presenting a Budget that represents a clean break from past policies, Union Finance Minister Nirmala Sitharaman was in Chennai last weekend to hear feedback from industrialists and common citizens. “This is a Budget that was put through the wringer to ensure that every number was credible and achievable and did not reflect over-ambition,” she said,...
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