-The Telegraph Our public discourse should be informed by economic theory that is free of obfuscations For some time now there has been a debate in the country that is as esoteric as it is misleading, namely whether the Reserve Bank of India’s reserves should be drawn down by the government to finance its expenditure. On the one side, the argument is that if the government has to undertake extra expenditure, then, other...
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Prof. Abhijit Sen, a former member of the erstwhile Planning Commission, interviewed by M Rajshekhar (Scroll.in)
-Scroll.in The former Planning Commission member explains why the country needs to tread carefully on this idea. On January 1, when Indian news agency ANI asked Prime Minister Narendra Modi about the government’s plans to reduce agrarian distress, he said loan waivers do not work as a very small segment of farmers take loans from banks. “A majority of them take loans from money lenders,” said Modi. “When governments make such announcements,...
More »Modi govt to announce Rs 4,000 per acre direct transfer, crop loan at 0% in two-fold farm relief; to cost Centre Rs 2.3 lakh crore -Anilesh S Mahajan & Rajeev Dubey
-BusinessToday.in DBT scheme draft requires states to share burden 70:30, but states are in no mood to bear the burden. Centre will likely announce direct benefit transfer (DBT) worth Rs 4,000 per acre per season plus interest-free crop loan up to Rs 1 lakh per farmer in an instant two-fold relief to the farmers, sources in the know told BusinessToday.In. The initiatives will cost the Centre Rs 2 lakh crore towards DBT...
More »Why credibility of India's fiscal math is under strain -Nikita Kwatra
-Livemint.com Unless the convoluted arithmetic behind fiscal deficit gets as much attention as headline fiscal deficit number, creative accounting practices will go on Mumbai: The Narendra Modi-led National Democratic Alliance (NDA) government has been lauded for its ability to rein in the headline fiscal deficit over the past few years, which has arguably helped tame inflation. However, with reverses in key assembly elections earlier this month and Lok Sabha elections to be...
More »Without Rise in Farm Income, Congress' Loan Waivers Won't End Rural Distress -Kabir Agarwal
-TheWire.in Implementing the loan waiver in Chhattisgarh, MP and Rajasthan will not be easy. It will cost Rs 80,000 crore and might need the states to double the spending on agriculture. New Delhi: On Monday, the newly appointed chief minister of Madhya Pradesh, Kamal Nath, proudly announced that his first executive decision was to waive farm loans in the state. While campaigning for the assembly elections, the Congress party had promised that if...
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