Social priorities have received scant fiscal attention There is good reason to feel let down by this year’s budget for the advancement of social sectors. The disappointment is more given that the Union Finance minister opened his speech by stating that “we are reaching the end of a remarkable fiscal year” and followed it up by immediate assertions that “growth in 2010-11 has been swift and broad-based”, that “the economy...
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BKU drops Delhi siege plan after Manmohan's assurance by Gargi Parsai
On the eve of a massive agitation by Tikait Singh-led Bhartiya Kisan Union, Prime Minister Manmohan Singh met representatives of the Union and assured them that “farmers interests will be fully protected at all times.” The Prime Minister told the delegation that he would convene a joint meeting with Finance Minister Pranab Mukherjee and Agriculture Minister Sharad Pawar to have an in-depth discussion on the various issues raised by the BKU...
More »Food Security Bill: media can help
Two key issues Budget-2011 is seen as having failed to address are inflation and mass hunger. Finance Minister Pranab Mukherjee announced in his budget speech that the long-promised National Food Security Bill would be moved in Parliament “during the course of this year” but failed to make any financial allocation to back up this statement. Against the backdrop of fresh warnings by experts that the outlook is grim given the...
More »Bad debts on farm loans pile up by Pradeep Thakur
The government has enhanced credit to the agriculture sector by Rs 1 lakh crore in the Budget but the pressure to meet the target has been showing on the bottom lines. All government banks are reporting an increase in their bad debts on farms loans ranging between 80% and 2000% in the first nine months of 2010-11. State Bank of Bikaner and Jaipur reported the highest increase in non-performing assets...
More »Unrealistic Solutions To Growing Problems by M Rajendran
With food inflation hovering in the double digit bracket for most part of 2010-11 and the aam aadmi up in arms, all hopes were pinned on the Union Budget 2011-12 for giving a new fillip to the farm sector. But the budget has disappointed most, in spite of Finance minister Pranab Mukherjee allocating Rs 14,744 crore for agriculture. “An increase of only 2.6 per cent over last year makes the...
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