-The Hindu Business Line Bankers call for a coordinated approach to deal with the stressed loans issue New Delhi: The RBI’s revised framework for stressed loans may prove to be disastrous and seems ill timed for an economy that is just recovering from twin policy blows of demonetisation and GST implementation. Though there are long-term benefits of administering such a bitter pill, the short-term risks are significant, say bankers. “This (revised NPA framework) is...
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Centre, states to discuss how to ensure MSP for farmers
-PTI The Centre will consult state governments early next month to set up a mechanism for protecting farmers' income when market prices fall below the minimum support price (MSP), Agriculture Secretary S K Pattanayak said today. A model law is also being prepared to ensure tenant cultivators get institutional credit and interest subsidy, he added. "We will call a meeting of state governments early next month to discuss a mechanism so that farmers...
More »Too clever by half? -Venkatesh Athreya
-Frontline.in Despite its deeply flawed neoliberal perspective, Economic Survey 2017-18 is rich in detail, has many useful analytical discussions at different levels of aggregation, and would serve as a useful resource for students and scholars. When Arvind Subramanian, the present Chief Economic Adviser to the Ministry of Finance who took office way back in October 2014, presented his first Economic Survey, the one for 2014-15, there was considerable novelty on offer, at...
More »Another Budget, Another Year of Ignoring Binding Laws on Rights -Nikhil Dey and Aruna Roy
-TheWire.in The making of the Union Budget has been a far too secretive and hidden exercise. Social sector expenditure and allocations related to policy announcements should be matters of open ongoing debate. On December 20, 2017, a group of 60 eminent economists sent an open letter to the finance minister stating: “We are writing to draw your attention to two urgent priorities for the forthcoming budget.” The first was to increase the central...
More »Don't have records of Vijay Mallya's loans: Finance ministry to CIC
-PTI Finance Minister Arun Jaitley, during a debate on demonetisation in the Upper House on November 17, 2016, had termed the loan issue of Vijay Mallya a "terrible legacy" that the NDA government had inherited from the previous UPA regime. The finance ministry has told the Central Information Commission (CIC) that it does not have information about the loans given to industrialist Vijay Mallya, prompting the transparency panel to remark that the...
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