-Livemint.com * The bulk of Rs20,000-crore package is frontloading the state's FY21 spending to the next three months * Kerala has 25 active COVID-19 patients so far, and over 30,000 people in quarantine ERNAKULAM: Kerala's mega Financial Package of Rs20,000 crore to mitigate the impact of the deadly coronavirus and counter its economic fallout has raised several eyebrows. Not only is the state the first in the country to offer such a package,...
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Why India faces a public funding crisis -Rathin Roy & Puja Mehra
-Livemint.com * The Centre has no money for a stimulus package. Only the states can find a way to get India out of the slowdown * States, taken collectively, are the only hope. Despite loan waivers, they are in a better position to boost public spending. But that would require coordinated work between the Centre?and the states NEW DELHI: On 1 February, finance minister Nirmala Sitharaman will present an important Union budget. The...
More »Govt may pump more funds into NREGS to boost rural economy -Saubhadra Chatterji & Zia Haq
-Hindustan Times Many analysts have underlined that the BJP’s below-par performance in the Maharashtra and Haryana assembly elections reflected concern, among other factors, about the economy, which slumped to a growth rate of 6% in the three months to June 30, the slowest pace in over six years. The government has already spent nearly 80% of its full-year budget for the flagship rural job guarantee programme, top officials said on Friday,...
More »Rs 71,500 crore worth of bank frauds detected in FY19: RBI report -Ashwin Manikandan
-The Economic Times Indian banking system detected Rs 71,500 crore worth of frauds in financial year 2018-19, the RBI report said. Indian banking system detected Rs 71,500 crore worth of frauds in financial year 2018-19 which to put in scale is slightly more than the Rs 71,000 crore recapitalisation package planned by the government to revive the health of its public-sector banks. Interestingly, over 90 percent of these losses were to the government...
More »Hardly the brick and mortar of a revival -Jayati Ghosh
-The Hindu The transfer of the RBI’s surplus is only a stopgap measure which will not address the key problem of a lack of demand There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid off about 350,000 workers since April this...
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