Tuesday, June 19, 2018
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Bailout for sugarcane farmers
The package announced by the central government for the sugarcane farmers does not help unless structural flaws are fixed in the sector
The special package announced by the central government last week to the extent of Rs 7000 crore for alleviation of the sugarcane farmers is too little to bring them out of the distress. This has been fixed after the centre proposed special cess under the Goods and Services Tax (GST) to provide some succour to the distressed farmers across the country. This has also come with an assurance from the centre with minimum pricing and special incentives for increasing molasses and ethanol to gainfully mop up the glut of sugar in the country. This package also comes independent of the cess proposal that was expected to raise Rs 6700 crore. To put this in perspective, it is important to note that the sugar mills' dues to farmers stand at Rs 22,000 crore at end of the last season. Under the propos...
Kashmir Times News Report
When people are not counted but weighed in a democracy
By Anuradha Bhasin Jamwal
Jamhooriyat woh tarz-e-hukumat hai Ki jis mein bande gine jaate hain, tole nahin jaate When the great Urdu poet penned down this rebuff to modern democracy rebuking its pitfalls, he was perhaps not aware that any democratic country's tilt to the weight of humans rather than their count could be far more dangerous. Corrupt regimes in democratic countries are inclined to weigh people on basis of their positions of power and pelf. This is far more devastating for democracy than Iqbal's anxiety that stemmed from the dread of placing on equal pedestal an intellectually informed and an ignorant idiot. Ironically, governments are elected by the count of voters. But when the same government begins to rule, its policies and actions are based on the weight of the few powerful persons rather than ...
Kashmir Times News Report
RBI's repo rate hike
As inflationary trends harden, the RBI's rate hike is unlikely provide relief to the common masses
The Reserve Bank of India (RBI) decision to hike key interest rates by 25 basis points in view of the hardened inflation trends in the country is unlikely to have any desired impact on the markets. The only impact in the market will be on loans availed by the service class for housing and investment in real estate will be costlier with new interest rate of 6.25 percent. This will further bring down the investments in the housing sector and further slowdown in the real estate because of the fact these two sectors which have contributed in a big way in growth rate have been going down after demonetization and Goods and Services Tax (GST) implementation. It was at the end of the unusually long three-day meeting, the Monetary Policy Committee (MPC) of the RBI opted for a hike in key interest ...
Kashmir Times News Report
BJP's coalition politics
The BJP will have to keep its allies together against a united opposition for the 2019 General Elections
The recent developments on the political front across the country after the Karnataka Legislative Assembly and bye-elections in different parts of the country has put up a stiff challenge to ruling Bhartiya Janata Party-led NDA at the centre. The debacle in Karnataka and other by-polls in other states should force the BJP to look for friends, who have lent their support to it as an ally in 2014 General Elections that paved the way for gaining power at the centre. Riding on the wave in its favour, the BJP was considered as a much sought after ally by other political parties at that time. But sadly, after four years of being in such a situation, the BJP has been reduced to the role of a supplicant before the potential electoral partners, the Shiv Sena in Maharashtra and Shriromani Akali Dal...
Kashmir Times News Report
Increasing NPAs in India
Doing away with political interference and professional management of Public Sector Banks can help bring down NPAs
Increasing Non-Performing Assets (NPAs) reported by most Public Sector Banks (PSBs) and bank frauds committed by some corporate houses across the country during the past four years of NDA-government should act as an eye-opener for the common masses. Such developments also need to be taken up seriously by the central government and the Reserve Bank of India (RBI). The latter being a regulator and auditor of all the PSBs has shown discreet carelessness in checking the banking frauds and monitoring the advances of loans to defaulters during the past four years in particular. In the same direction, the Parliamentary Standing Committee on Finance has also put tough questions to the RBI governor in its briefing but no remedial measures have been suggested. In fact, the RBI governor Urijit Patel...
Kashmir Times News Report
Persecution of activists
Arrests of five activists for Bhima-Koregaon violence reflects deep rooted bias against Dalits and systemic plan to silence dissenters
The arrests of human rights and Dalit activists - Shoma Sen, Advocate Surender Gadling, Sudhir Dhawale, Rona Wilson and Mahesh Raut - by Maharashtra police for the violence that erupted earlier this year during a rally at Bhima-Koregaon are shocking and reveal the ugly extent to which government can go to in abusing power to unlawfully target peaceful citizens because of their different views and their leadership roles in mobilizing oppressed communities. All the five activists arrested have been excessively vocal about the oppression of minorities particularly Dalits and tribals due to undemocratic practices and draconian laws. A similar draconian law UAPA which gives sweeping powers to police to detain, arrest and torture anybody has been used to silence and gag their voices. The arrest...
Kashmir Times News Report
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