By Venkatesh Nayak* To say that the banking sector in India is going through a “crisis phase” would be a bald understatement. Bad loans or “non-performing assets” (NPAs) have risen to unprecedented levels in 2018. According to the statistics that the Union Minister of State for Finance, tabled in the Lok Sabha on 06 April, … More In the time of crisis Public Sector Banks reject more RTIs than ever before: CIC’s Annual Report

By KM Seethi* The Fifteenth Finance Commission’s (FFC) Terms of Reference (ToR) have generated a lot of criticism across a wide spectrum of thinking, especially among the South Indian states. The States which have already been affected with the winding up of the Planning Commission, as well as with the introduction of the Goods and … More Terms of Reference of fifth Finance Commission are an encroachment into States’ functions

By Himanshu* A general misconception around inequality in India is that the level of inequality is low by international standards. However, such a comparison is largely misplaced as inequality in India is usually measured by the consumption expenditure data, which is not comparable to inequality in most countries which is measured by income dimension. While … More Gini of wealth in India in 2017 is at 0.83, which puts India among countries with high inequality

By Moin Qazi* The world’s great philanthropist and investment leader, Warren Buffett, once said, “It’s only when the tide goes out that you realise who has been swimming naked”. Well, it’s the ebb of the tide for many of India’s high-flying crony capitalists like Nirav Modi and Mehul Choksi, as they find themselves caught in an … More Most big bank defaulters have money to employ legal eagles who can play with the judicial system

Excerpts from the Dalit Adivasi BudgetAnalysis 2018-19, by the National Campaign on Dalit Human Rights-Dalit Arthik Adhikar Andolan: Scheduled Castes (Dalits/SC) and Scheduled Tribes (Adivasis/ST) are communities who have experienced historical marginalisation resulting in denial of their due share in economic resources, developmental benefits and basic entitlements necessary for a decent living. As a result … More Union budget’s sizable gap: Rs 1,14,717 crore for Dalit schemes, Rs 54,676 crore for Adivasi schemes

Excerpts from the chapter “Income Inequality in India” in “World Inequality Report 2018”, prepared by the World Inequality lab, an international non-profit organization: Income inequality in India has reached historically high levels. In 2014, the share of national income accruing to India’s top 1% of earners was 22%, while the share of the top 10% … More Economic reforms in India were concomitant with a dramatic rise in income inequality

Summary of the survey carried out by Act Now for Harmony and Democracy (ANHAD) on people’s response to demonetization, published in the book “Demonetization: Exorcising the ‘Demon’” (click HERE): On the 8th of November 2016, Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 notes would stand demonetised after 12 O’ clock midnight. … More Was demonetization able to wipe out all the black money for ever?  55% respondents disagreed