KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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Banks eye Rural loan growth to push credit-deposit ratio - Mihir Mishra, Shayan Ghosh
Mint India’s rural borrowers and small businesses owners may have easier access to credit with public sector banks (PSBs) planning to increase financing to these segments, after the Union finance ministry urged lenders to improve their credit-deposit ratio. The C-D ration indicates how much of a banks' deposit base is being utilized for extending loans. The development may help expedite the revival of the rural economy, which is struggling to reach pre-covid...
More »Indian banks gave more home loans than agricultural credit
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...
More »Protest against eviction drives in Delhi-NCR and other cities
-Press release by Freedom from Bondage movement dated 6 September, 2022 New Delhi: As we mark #75thIndependenceDay & #AzadiKaAmritMahotsav, thousands of people who have been evicted from their homes in slums, Jhuggies, settlement colonies and informal sector workers who have been denied their livelihood without any rehabilitation have gathered at Jantar Mantar to raise their voice against the “Bulldozer Raj”. The government is forcibly snatching the land of poor Dalits and...
More »3-day MGNREGA dharna concludes today after highlighting the demands of the workers to the media & policymakers
-Press note by NREGA Sangharsh Morcha dated August 4, 2022 On the final day of the 3-day dharna, despite heavy rains, hundreds of mazdoors from 15 states stayed on at Jantar Mantar to continue raising their voices. Currently, 14 states are running a negative balance on NREGA funds, and 64 percent of the budget for this financial has already been spent. More than Rs. 6800 crores are due in wages to...
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