In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
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Climate change will likely exacerbate Indian rural household's debt burden
Editorial team, Carbon Copy Ongoing shifts in rainfall and temperature caused by climate change are likely to increase the debt burden faced by rural households, particularly of marginalised groups in dry areas, an editorial in Carbon Copy magazine said. The piece cited a study in the journal Climate Change that argues that changes in climate, along with existing socio-economic differences - caste and landholding in particular — will deepen the size...
More »What is in store for India’s imports?
There is some respite expected for India in terms of prices of imported commodities. This may ease the depletion of its foreign exchange reserves. The country has faced a widening of its merchandise trade deficit from US$ -17.91 billion to US$ -26.91 billion between October 2021 and October 2022. The commodity price data provided by the World Bank in December 2022 (termed as The Pink Sheet) shows that energy prices plummeted by...
More »A year of extreme weather events has weighed heavy on India’s agricultural sector -Vivek Gupta
-India.mongabay.com * After the drop in wheat production due to heat waves, extreme weather events have now cast a shadow on rice production, which is likely to drop beyond centre’s initial 6% loss estimate. * In six years (2015-21), the country lost 33.9 million hectares of the cropped area due to floods and excess rains and 35 million hectares due to drought, which are likely to intensify as various studies predict. * Centre...
More »Wheat MSP hiked by Rs 110/quintal
-The Tribune New Delhi: The Union Cabinet today approved a hike of up to 9 per cent in the minimum support price (MSP) of six rabi crops for next year’s marketing season, with a Rs 110 per quintal increase for wheat to boost domestic production and the income of farmers. The wheat MSP has been raised from Rs 2,015 to Rs 2,125 a quintal, a hike of 5.46 per cent. The highest...
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