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Maharashtra govt announces loan waiver; farmers call off protests

Agencies
June 11, 2017

Mumbai, Jun 11: The Maharashtra government on Sunday announced a loan waiver for farmers and decided to form a committee to decide the criteria of debt relief, after which cultivators called off their protests.fadnavis-7593

"The government has decided to waive farmers' loans. The loans of farmers with small land holdings stand waived from today itself," Revenue Minister Chandrakant Patil said.

Patil, who headed a high-powered committee set up by Chief Minister Devendra Fadnavis, was speaking to reporters after holding discussions with farmer leaders here today.

Farmer leader and Lok Sabha member Raju Shetti, who participated in the talks, said he was happy that their demands had been met.

"Our issues have been resolved. We have decided to temporarily call off our agitation, including the dharna protests scheduled for tomorrow and day after. However, if no satisfactory decision is taken (on the criterion for loan waiver) by July 25, we will restart our stir," Shetti said.

Another farmer leader, Raghunathdada Patil, said the minister had assured them that "all loans" of farmers will be waived.

"The atmosphere now is like Diwali celebrations. 100 per cent of our demands have been accepted," he said.

The ministers' group has decided to restart fresh loan disbursal to farmers from today, Raghunathdada said.

"We are calling off the road and rail roko protests scheduled for tomorrow and June 13," independent MLA Bachu Kadu said.

"However, if the decision taken today is not implemented before July 24, the farmers will resume their agitation," Kadu said.

The revenue minister, asked if his announcement on farmers getting new loans from today meant that the old ones would be restructured, said, "It is a simple banking question. Till the old loan is waived, one doesn't get new loan."

Fadnavis had on Friday announced the formation of the six-member committee to look into the various demands of farmers, including the loan waiver.

The panel also comprises senior minister Diwakar Raote of the Shiv Sena, Agriculture Minister Pandurang Fundkar, Finance Minister Sudhir Mungantiwar, Cooperatives Minister Subhash Deshmukh and Water Resources Minister Girish Mahajan.

On June 1, farmers from a village in Ahmednagar district went on strike followed by many farmers groups in other parts, who tried to suspend vegetable and milk supply to Mumbai.

Fadnavis had held a late night meeting and ensured withdrawal of the strike, but it emerged that some of the farmers' leaders who were part of the talks with him in Mumbai, were close to BJP and RSS. This outraged the farmers and their agitation intensified in the following days.

Last week, a farmer in Solapur district, before ending his life due to debt, wrote that unless the chief minister visits his farm, his body should not be cremated.

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Agencies
August 6,2020

Mumbai, Aug 6: Former Reserve Bank of India governor Raghuram Rajan said on Thursday that overly focusing on what sovereign rating agencies think can take one's eyes off what needs to be done for the economy.

"It is also important to convince both domestic and international investors that after the crisis associated with the pandemic is over, we will return to fiscal responsibility over the medium term, and the government should do more to convince them of that," Rajan told the Global Markets Forum.

India was placed under one of the strictest lockdowns in the world in late March for more than two months to stem the spread of the coronavirus, but cases have continued to rise steadily since the government eased restrictions in June, stymieing hopes of an economic recovery.

The government has announced several initiatives to help the poor and small- and medium-size businesses, but actual cash outgo from the government's measures has been estimated at just about 1% of GDP.

Several attribute the fiscal prudence to fear of a downgrade after Moody's cut India's rating and outlook in early June followed closely by a change in outlook from Fitch.

The central bank on its part too has reduced the key lending rate by 115 basis points on top of the 135 bps last year and is widely expected to cut rates by another 25 bps later on Thursday.

"The RBI and government have certainly been cooperating, but it seems like it is elsewhere, the ball is in the government's court to do more," Rajan said.

He said the RBI needs to focus on whether credit is reaching the stressed areas of the economy and also if the viable firms were able to access credit and not the unviable ones.

"And I think that's where it has to focus its attentions, because resources, as you well know, are limited in India today."

Recently analysts, however, have cited the growing possibility the RBI may prefer to pause and cut rates only at its October meeting.

Government officials too have suggested the possibility of any more fiscal stimulus being announced, would only come in the second half of the fiscal year, once a recovery has taken root and coronavirus cases have peaked.

"What India should focus on at this point is protecting its economic capabilities, so that when it has dealt with the virus it can go resume activity in a reasonable way. That should be the focus," Rajan said.

"And if it does that, there is no reason why the rating agencies will not see that as an appropriate policy".

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News Network
April 14,2020

New Delhi, Apr 14: With 1,211 fresh cases of coronavirus reported in the last 24 hours, the total number of confirmed cases of COVID-19 in the country has reached 10,363 including 339 deaths, said Lav Aggarwal, Joint Secretary, Health and Family Welfare, here on Tuesday.

As many as 1,036 people have recovered from the disease so far, said Aggarwal during the daily media briefing on the coronavirus. "In one day, 179 people were diagnosed and found cured," he added.

"A total of 10,363 confirmed cases have been reported in India including 339 deaths and 1,036 people, who were COVID-19 positive have recovered. Out of the total deaths, 31 deaths have been reported in the last 24 hours," said Aggarwal.

Aggarwal said that an evaluation of each district and city will be done till April 20.

"An evaluation of each district and city will be done till April 20 in which it will be evaluated what measures did that authorities take in these cities and districts to combat COVID-19," he said.

"Based on the results of this litmus test approach, permission will be granted for some selective activities to those districts and cities which controlled the situation effectively. Detailed guidelines will be issued soon," he added.

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News Network
June 26,2020

New Delhi, Jun 26: "Iam Indira Gandhi's granddaughter, not an undeclared BJP spokesperson like some of the opposition leaders," Congress general secretary Priyanka Gandhi Vadra on Friday said, as she alleged that the Uttar Pradesh government is threatening her through various departments for speaking the truth. Priyanka Gandhi's dare to the Uttar Pradesh government came days after the Agra administration asked her to withdraw within 24 hours the claim of high coronavirus deaths in the district.

The Congress general secretary in-charge UP East has accused the Yogi Adityanath government of indulging in propaganda instead of dealing with the pandemic. "As a public servant, my duty is towards the people of Uttar Pradesh. And this duty is to put out the truth before them and not to put forth government propaganda. The UP government is wasting its time by threatening me through its various departments," Priyanka Gandhi said in a tweet in Hindi.

"They can take whatever action they want, I will keep putting forth the truth. I am Indira Gandhi's granddaughter not an undeclared BJP spokesperson like some of the opposition leaders," she said. This week, Priyanka Gandhi repeatedly attacked the Uttar Pradesh government over the "high" COVID-19 mortality rate in Agra and on other issues related to the state government's handling of the pandemic.

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