-The Economic Times Small and marginal farmers who constitute more than 80% of total farmer households in the country face exclusion from formal financial channels," says the Nair Committee on priority sector lending. The same report says "commercial banks have been prescribed targets since late 1960s for priority sector lending". The banking system failed the farmers and the needy despite nationalisation, but is there a viable model that could help the millions...
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SP set to form govt in Uttar Pradesh; blow for Congress
-Reuters The Congress party trailed in fourth place as vote counting neared its end in Uttar Pradesh on Tuesday, a bitter election blow to Rahul Gandhi who had staked his political future on reviving his party's fortunes in the state. Gandhi, scion of the Nehru-Gandhi dynasty that ruled India for most of its 65 years of independence, had campaigned tirelessly to revive his party in the politically crucial state where it has...
More »All trade unions to strike work on Tuesday
-The Hindu To protest the fallout of liberalisation policy In an unprecedented show of unity, all trade unions in the country have come together on the same platform and given a call for a general strike on February 28. This is the first time since Independence that trade unions, cutting across ideological and political affiliations, have joined hands to register their protest on a wide range of issues arising out of the liberalisation...
More »JNNURM, farmers’ loan waiver scheme under CAG lens by Pradeep Thakur
The Comptroller and Auditor General (CAG) is giving final touches to two reports where it has pointed out anomalies in allocation of funds under the centrally-runJNNURM scheme and UPA government's debt waiver to farmers in 2008, something the opposition may use as a stick to beat the government during the budget session. In the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), the CAG, sources said, is reviewing how central funds were...
More »CNT Act provisions: Bank credit denied to tribal people by Santosh Narayan
Chhotanagpur Tenancy (CNT) Act-1908 came into existence to safeguard rights of the tribals, especially on their traditional landholdings. It is not very clear how much the Act has been successful in assuring the rights to the traditional dwellers, though it is an open secret that it has denied them access to bank credits, thus hampering them financially. Latest figures suggest that bank loans to Scheduled Tribe and Scheduled Caste have moved...
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