-TheWire.in Premium collected by insurance Companies has increased by Rs 36,848 crore, while the number of farmers covered has increased only by 0.42%, according to RTI data obtained by The Wire. New Delhi: In January 2016, Prime Minister Narendra Modi launched a revamped crop insurance scheme, his government’s flagship scheme for farmers, the Pradhan Mantri Fasal Bima Yojana (PMFBY). It would “bring about a major transformation in the lives of farmers”, Modi...
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Explained: How 100 frauds hit banks -Rahul Tripathi
-The Indian Express CVC report analyses 100 major frauds on public sector banks, committed by borrowers from 13 sectors. Among them, an aviation firm that got loans based on its brand name in spite of a poor credit rating; and jewellers who allegedly inflated value of diamonds and submitted fake details on debtors. New Delhi: The Central Vigilance Commission (CVC) recently came out with a report that analyses the top 100 bank...
More »GDP and jobs not good at tango -Basant Kumar Mohanty
-The Telegraph Higher GDP growth rate has often been accompanied by slowing job growth, an Azim Premji University report says New Delhi: Job creation has not only failed to keep pace with the country’s GDP growth over the decades, a higher GDP growth rate has often been accompanied by a slowing job growth, a recent report says. The State of Working India 2018, a report by the Azim Premji University, would come as...
More »Agriculture sector not responsible for discoms' health, declining groundwater: study -Kundan Pandey
-Down to Earth While power consumption in agriculture is overestimated, a number of factors influence groundwater extraction. A new study done by Pune-based non-profit Prayas shows that India’s agriculture sector cannot be held responsible for financial stress on electricity distribution Companies (discoms) and for declining groundwater. The study titled, Understanding the Electricity, Water & Agriculture Linkages, argues that not only is the subsidy given to agriculture in India overestimated, the relation between subsidy...
More »How Govt Milking of Cash Cow LIC is Endangering India's Most Trusted Life Insurer -Praneta Jha
-Newsclick.inGovt is repeatedly turning to LIC for its disinvestment agenda. The insurer's NPAs have doubled since the Modi regime took over, and now there is the possibility of it bailing out debt-ridden IL&FS. Since 2014, the Life Insurance Corporation of India (LIC) has spent, at least, Rs 48,000 crore so that the Narendra Modi government can meet its disinvestment targets.Meanwhile, the non-performing assets (NPAs) of the country?s largest insurer have...
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