-The Hindu 'Understatement of losses runs up to more than ₹2,000 crore’ The National Financial Reporting Authority (NFRA) has rapped ‘EY group firm’ SRBC & Co. LLP for failing to detect several problems in the IL&FS group’s transport venture while undertaking its statutory audit in 2017-18. The auditor’s lapses had led to losses being understated by more than ₹2,000 crore, incorrect treatment of letters of comfort of ₹2,654 crore and improper valuation of...
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A flawed calculation of inflation -Arun Kumar
-The Hindu The current official inflation rate does not correctly measure price rise Inflation for the last four months has been worryingly high — wholesale price index (WPI) has been above 10% and consumer price index (CPI) crossed the 6% mark in June, which was above the Reserve Bank of India (RBI)’s tolerance band. This is happening at a time when demand has been down, unemployment has been high, many have lost...
More »Sri Lanka’s organic farming crisis: Learning from failures -Gurudas Nulkar
-Down to Earth Sri Lanka has found itself in an economic crisis in pursuit of producing 100% organic food ‘Lankan food crisis shows perils of organic farming’. This was the headline of a column by Indian economist Swaminathan Anklesaria Aiyar column published in a national daily recently. Aiyar’s article analysed the Sri Lankan food crisis, which has been triggered by the President’s recent decision to shift from chemical to organic farming. While the...
More »The dark underbelly of Punjab’s liquor problem -Srishti Jaswal
-Scroll.in Over 100 people died after consuming illicit liquor in 2020. The police have implicated two brothers, but the trade runs deep in the state’s political economy. On the night of June 23, 2021, the sounds of qawwali rang out from a Sufi shrine in Dhotian, a village in Punjab’s Tarn Taran district. The brutal second wave of the coronavirus pandemic hadn’t yet receded, but hundreds were in attendance at the shrine,...
More »How important is MSP-based procurement -CP Chandrasekhar and Jayati Ghosh
-NetworkIdeas.org Though not featuring in any of the three farm laws, the Minimum Support Price (MSP) at which the government promises to procure 25 different commodities through different agencies, is a central issue in the standoff between the government and protesting farmers. The latter fear that the implementation of the three laws will end the MSP regime, with the government withdrawing from procuring output at a remunerative cost-plus price. The response...
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