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Think tank report hints at diversion of cheap farm loans -Puja Mehra

-The Hindu Huge subsidy of 5 percentage points being leveraged. Pointing to a possible diversion of subsidised funds meant for farmers to non-agricultural uses, a research paper by the Indian Council for Research on International Economic Relations (ICRIER) has found that the crop loans extended in India are in fact close to exceeding the total expenditure on farm sector inputs. In 2012-13, the aggregate short-term credit — provided primarily to finance the purchase...

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Super rich defaulters push Indian banks towards collapse

-DNA What is worse is that just the top 30 cases of default account for a Rs 1.21 lakh crore, which is almost 40% of the Non Performing Assets (NPAs) in banks. The upper middle class, who usually takes loans of over Rs 1 crore, accounts for 33% of the total NPAs.  It's not the poor farmers or the middle class who are defaulting on their loans. It's the country's super rich,...

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Farmers Find their Voice Through Radio in the Badlands of India -Stella Paul

-IPS News TIKAMGARH: Eighty-year-old Chenabai Kushwaha sits on a charpoy under a neem tree in the village of Chitawar, located in the Tikamgarh district in the central Indian state of Madhya Pradesh, staring intently at a dictaphone. “Please sing a song for us,” urges the woman holding the voice recorder. Kushwaha obliges with a melancholy tune about an eight-year-old girl begging her father not to give her away in marriage. The melody melts...

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Facing drought, Telangana shifts focus to dry crops -Bappa Majumdar

-The Times of India HYDERABAD: In a major policy shift that could shape the future of agriculture in Telangana, the government on Wednesday said it was getting ready to grow dry crops such as ragi and bajra in view of an impending drought after the killer heat wave in the region. Unseasonal rains in MarchApril had damaged Rabi crops in 75,000 hectares across nine districts of the state, forcing the government to...

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Weather department downgrades monsoon forecast to 88%, stokes drought fears; govt 'prays'

-Hindustan Times India’s June-September monsoon, the lifeblood of Asia’s third-largest economy, will most likely be “deficient” this year with the met department downgrading its forecast from 93% to 88%, earth sciences minister Harsh Vardhan said on Tuesday.   The India Meteorological Department’s (IMD) revision -- which had forecast “below normal” monsoon in April -- will potentially toughen challenges for the Narendra Modi government already battling a farm crisis triggered by unseasonal rains in...

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