-PTI London: Leading UK retail chains such as John Lewis and Habitat have withdrawn granite products from their range over fears of child labour and slavery within its Indian supply chains. Businesses selling granite products such as kitchen worktops and tiles are scrutinising the source of their products after global investigators discovered that debt bondage, underage workers and unsafe, unhealthy working conditions are part and parcel of daily working life in Indian...
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Economy outlook still cloudy -Ajit Ranade
-The Hindu An immediate stimulus is needed to regain the momentum to get India back to 8% growth The government’s move this past week to publish economic data for the April to June quarter of this year needs a look. The real growth of GDP, i.e. after removing the impact of inflation, was only 5.7%, much lower than expected. For the past six consecutive quarters, the growth rate has gone down steadily,...
More »Centre approves the merger, consolidation of public sector banks
-Scroll.in Principal Economic Advisor Sanjeev Sanyal said the government wants to reduce the number of PSU lenders to 10 to 15 from the current 21. The Union Cabinet on Wednesday gave its in-principle approval for the merger and consolidation of public sector banks, reported ET Now. The Cabinet gave the go-ahead to set up a mechanism to carry out such mergers. The move is aimed at improving the efficiency of public...
More »MS Swaminathan, father of India's Green Revolution, interviewed by Vidya Venkat (The Hindu)
-The Hindu Fifty years since the Green Revolution, the architect of the reform highlights the crisis facing Indian agriculture today It is 11 years since agronomist M.S. Swaminathan handed over his recommendations for improving the state of agriculture in India to the former United Progressive Alliance government, at the height of the Vidarbha farmer suicides crisis, but they are still to be implemented. To address the agrarian crisis and farmers’ unrest across...
More »Economy will decelerate if States resort to farm loan waivers
-The Hindu Business Line Total burden could swell to Rs. 2.7 lakh cr New Delhi: Farm loan waivers could be detrimental to the economy as they could reduce aggregate demand by 0.7 per cent of GDP, imparting a significant deflationary shock to the economy, the Survey said. There is visible farm stress, even though it is not as widespread as it is made out to be, the Survey said, adding that the drastic...
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