RBI's survey on Climate Finance has really left everyone disappointed. India's forex reserves are depleting as RBI defends the falling rupee. While common people are being harassed for loan recoveries, the corporates are getting grand write off. So much so that the banks' outstanding has jumped over 3 times to Rs 8.58 Lakh Crore in just 5 years! What is happening? 

LINK FROM THE PODCAST:

https://science.thewire.in/environment/banks-exposure-coal-green-finance/

https://theprint.in/economy/price-of-defending-rupee-sliding-by-3-6-bn-week-indias-forex-sees-steepest-fall-in-decade/1130792/

https://www.businesstoday.in/latest/economy/story/why-are-indias-foreign-reserves-depleting-and-what-could-it-mean-for-the-country-347234-2022-09-14 

https://www.transunioncibil.com/suit-filed-cases/

https://www.moneylife.in/article/banks-outstanding-jumps-over-3-times-to-rs858-lakh-crore-in-just-5-years/68465.html

Register for Public Event and Comic Book Launch here - https://forms.gle/WC4LPoa8eUnLP6A5A

he World Economic Forum, in its latest Global Gender Gap Report released in July, ranked India 135 among 146 countries. These figures hide the social, political exclusion and discrimination faced by women throughout the country which has become very mainstream and does not even ring alarm bells, nor does the gender question inform most protests on employment.

Here is your weekly round - up of economy and finance!

Listen Up!

Links from the podcast:

https://www.business-standard.com/article/current-affairs/share-of-women-employees-in-cpses-dip-in-fy21-to-9-35-says-survey-122092001062_1.html

https://www.india.com/news/india/discrimination-sole-factor-of-employment-inequality-for-women-in-rural-india-oxfam-report-5633537/

https://www.business-standard.com/topic/gender-gap

https://www.timesnownews.com/business-economy/economy/rbi-gets-around-8000-complaints-against-nbfcs-lending-apps-likely-to-announce-regulations-for-fintechs-article-92974437/amp#amp_tf=From%20%251%24s&aoh=16636420399124&referrer=https%3A%2F%2Fwww.google.com

https://timesofindia.indiatimes.com/business/india-business/discounted-russia-crude-gives-india-rs-35000-crore-gain/articleshow/94288223.cms

https://www.statista.com/statistics/326017/weekly-crude-oil-prices/

https://economictimes.indiatimes.com/industry/energy/oil-gas/after-russian-flows-dry-up-india-pays-up-to-double-price-for-gas/articleshow/94308333.cms

https://debtjustice.org.uk/wp-content/uploads/2022/09/Open-letter-from-experts_09.22.pdf

https://www.theguardian.com/world/2022/apr/11/blackrock-urged-to-delay-debt-repayments-from-crisis-torn-zambia

https://www.theguardian.com/global-development/2022/sep/02/crisis-hit-zambia-secures-13bn-imf-loan-to-rebuild-stricken-economy

https://forms.gle/WC4LPoa8eUnLP6A5A

After replacing the 65-year-old Planning Commission with Niti Aayog, the next target are the planning boards at state level. At the same time the FM is using Hanuman analogy to implore industry to start investing. Though the example was about Hanuman being reminded of his strength, Nirmala Sitaraman seemed to be on the verge of tears at the aloofness of the industrialists refraining from investments despite getting so many tax benefits.  All this is happening while India slips down further in the Human Development Index.

Here is your weekly round-up of economy and finance!

Listen Up!

Links from the podcast

https://indianexpress.com/article/business/states-may-have-niti-aayog-like-bodies-soon-8147315/

https://www.thehindu.com/opinion/lead/the-poor-state-of-indias-fiscal-federalism/article65690849.ece

https://www.livemint.com/economy/fm-nirmala-sitharaman-india-inc-hanuman-asks-why-not-invest-in-manufacturing-11663059534491.html

https://mpra.ub.uni-muenchen.de/93164/1/MPRA_paper_93164.pdf

https://www.financialexpress.com/economy/india-committed-to-privatisation-bank-reforms-repositioning-economy-amid-global-challenges-fm-sitharaman/2655677/

https://thewire.in/government/how-privatisation-is-leading-to-growing-inequality-in-india

https://indianexpress.com/article/opinion/columns/the-solution-to-indias-stunted-improvement-on-the-human-development-index-improving-access-to-quality-education-8149358/

https://www.livemint.com/companies/news/reliance-industries-to-build-world-s-largest-carbon-fibre-plants-details-here-11661767018077.html

https://energy.economictimes.indiatimes.com/news/oil-and-gas/fresh-capex-likely-to-boost-rils-revenue-visibility-and-profit/93891673?

https://www.accessnow.org/open-letter-to-the-world-bank-digital-id-systems/

 If you want to measure a nation's prosperity, where do you look ? GDP? Balance of payment? Or should you also count the graves. A new data on suicides in India presents some disturbing facts. Meanwhile, the first quarter results of GDP growth are out. It's an impressive performance, but the devil is in the details. In yet another incident, Sri Lanka gets its first breather as the IMF grants a new loan.

Here is your weekly round-up of economy and finance

Listen Up!

Links from the podcast:

https://indianexpress.com/article/india/daily-wagers-rise-suicide-2021-ncrb-data-8118526/

https://www.telegraphindia.com/india/inequality-has-deepened-under-modi/cid/1846864

https://indianexpress.com/article/cities/mumbai/most-suicides-reported-from-maharashtra-8119748/

https://www.business-standard.com/article/opinion/india-s-q1-gdp-disappointing-numbers-122083101122_1.html

https://www.business-standard.com/article/economy-policy/india-s-q1fy23-gdp-grows-13-5-govt-data-122083100703_1.html#:~:text=The%20gross%20domestic%20product%20(GDP,16.2%25%20released%20earlier%20this%20month

https://indianexpress.com/article/world/sri-lanka-budget-to-bolster-revenue-and-fight-inflation-as-imf-talks-progress-8120719/ 

https://indianexpress.com/article/explained/explained-global/imf-sri-lanka-economic-crisis-aid-explained-8124961/ 

https://indianexpress.com/article/india/economist-abhijit-sen-passes-away-8119885/

https://indianexpress.com/article/opinion/columns/economist-abhijit-sen-believed-in-power-of-policy-to-achieve-growth-and-alleviate-poverty-8121561/

Adani & Co makes a major bid for the media sector, as reports point out massive over leverage and a possibility of spiralling into a debt trap. Not satisfied with the hoards of taxes on people, the govt is exploring how can it charge people for UPI transactions. All this while the LPG hikes are pinching common people.

Here is your weekly round up of economy and finance!

Listen Up!!

Links from the podcast:

https://www.business-standard.com/article/economy-policy/rbi-moots-tiered-charge-on-payments-via-upi-releases-discussion-paper-122081701280_1.html

https://www.ndtv.com/india-news/real-time-payments-solution-upi-to-remain-free-centres-clarification-3273992

https://www.cenfa.org/reserve-bank-of-india-or-the-richmen-bank-of-india/ 

https://indianexpress.com/article/opinion/columns/if-fm-sitharaman-can-take-credit-for-economic-success-she-must-take-blame-for-failures-8107754/

https://economictimes.indiatimes.com/industry/energy/oil-gas/no-lpg-subsidy-to-households-rs-200-lpg-dole-limited-to-ujjwala-beneficiaries/articleshow/91964500.cms

https://indianexpress.com/article/explained/explained-global/chile-new-constitution-explained-8060221/

https://act.progressive.international/newchile/ 

https://indianexpress.com/article/explained/everyday-explainers/explained-fitch-says-adani-is-over-leveraged-what-does-over-leveraging-mean-in-business-8108575/

https://thewire.in/economy/as-freebie-debate-rages-what-defines-revdi-nobody-really-knows 

 As the country celebrates 75 years of independence this month, we have come a long way in terms of economic growth and industrialisation. But has this translated into providing a good standard of living to every citizen, is the question we must ask.

Here is your weekly round - up of economy and finance!

Listen Up!

Links from the Podcast:

https://www.business-standard.com/article/finance/rbi-accepts-centre-s-request-to-allow-idbi-bank-bidders-to-own-over-40-122072501258_1.html

https://economictimes.indiatimes.com/markets/stocks/earnings/idbi-bank-q1-results-profit-rises-25-to-rs-756-crore/articleshow/93029233.cms?from=mdr

https://www.thehindubusinessline.com/news/privatisation-of-idbi-bank-will-be-opposed-strongly-aiboa/article65255287.ece 

https://indianexpress.com/article/india/amid-member-shortage-nclt-to-hear-only-urgent-cases-online-8079005/

https://www.financialexpress.com/industry/universe-of-bidders-shrinks-ibc-recovery-falls-to-new-low-of-10/2514537/ 

https://www.climatepolicyinitiative.org/publication/landscape-of-green-finance-in-india-2022/

https://www.business-standard.com/article/current-affairs/india-s-annual-green-finance-just-one-fourth-of-its-needs-finds-study-122081100004_1.html 

 https://thebastion.co.in/politics-and/we-dont-want-electricity-at-the-cost-of-lives-the-toxic-impact-of-okhlas-waste-to-energy-plant/

The growing debt crisis is forcing many growing economies to cut down public spending. While in India, the PM warns the people of freebies, as the States' share in central taxes come down. 

Here is your weekly round up of economy and finance

Listen Up!

Links from the Podcast:

https://jubileedebt.org.uk/wp-content/uploads/2022/05/Debt-and-public-spending_May-2022.pdf

https://indianexpress.com/article/opinion/columns/freebie-subsidy-compensation-lets-reset-terms-debate-8078602/ 

https://ndtv.in/india/rewari-culture-pm-modi-cautioned-the-public-with-the-election-announcements-of-providing-free-facilities-3163825

https://www.livehindustan.com/ncr/story-they-are-traitors-delhi-cm-arvind-kejriwal-on-rewari-culture-6909166.html

https://www.business-standard.com/article/finance/states-share-in-central-taxes-come-down-to-29-32-against-recommended-41-122080800593_1.html 

.https://www.business-standard.com/article/economy-policy/delay-could-make-7th-economic-census-data-trivial-says-house-panel-122080801607_1.html

https://news.abplive.com/news/india/sab-gayab-si-rahul-gandhi-s-new-salvo-at-modi-govt-calls-nda-no-data-available-govt-1544041

https://thewire.in/government/two-members-of-indias-national-statistical-commission-quit-over-bodys-ineffectiveness

As protests against price rise and the deepening inequality rock parliament, the looming recession is hard to ignore. At the same time, efforts are in place to sell BSNL soon’ even as sale of 5G spectrum takes place. 

Here is your Weekly Round - up of Economy and Finance

Listen Up!

Links from the Podcast:

https://thewire.in/economy/us-recession-impact-on-indian-economy

https://www.businessworld.in/article/Recession-In-India-A-Myth-Or-Upcoming-Reality/06-06-2022-431298/

https://www.business-standard.com/article/economy-policy/india-nowhere-close-to-recession-or-stagflation-says-fm-sitharaman-122080101618_1.html

https://economictimes.indiatimes.com/markets/expert-view/deeper-us-recession-spells-big-trouble-for-india-says-swaminathan-aiyar/articleshow/93129880.cms?from=mdr

https://www.fortuneindia.com/opinion/amidst-global-recession-threat-india-finds-hope/109071

https://economictimes.indiatimes.com/news/economy/indicators/sticky-food-prices-can-pause-tough-policy-challenge-this-fiscal-crisil/articleshow/93276119.cms

Lok Sabha - Nirmala Sitharaman to Opposition: You have to listen to political speech - Telegraph India

After Opposition Protests for Two Weeks, Lok Sabha Finally Begins Debate on Price Rise (thewire.in)https://www.ndtv.com/business/5g-auction-on-day-1-completed-lesser-than-expected-demand-5-points-3195966 IOC posts Rs 1,992-cr net loss on petrol, diesel price freeze in Q1 | Business Standard News (business-standard.com)

202207210408381021671SnapshotofIndiasOilandGasdataJune2022upload.pdf (ppac.gov.in)

https://www.hindustantimes.com/business/reliances-net-profit-jumps-46-per-cent-in-q1-101658500499628.html 

 A global recession is looming large thanks to the prolonged Russia-Ukraine war, while the mounting job crisis is hitting hard, with the govt selecting  less than 1% applications received for public sector jobs.

Here is your weekly round of economy and finance!

Listen Up!

Links from the Podcast

https://www.livemint.com/economy/imf-slashes-fy23-india-growth-forecast-to-74-11658834328617.html

https://www.fortuneindia.com/opinion/amidst-global-recession-threat-india-finds-hope/109071

https://indianexpress.com/article/india/govt-job-rush-in-8-years-22-crore-applied-only-7-lakh-selected-8055808/

https://indianexpress.com/article/opinion/editorials/saving-msmes-rbi-demonitisation-8051187/

https://www.financialexpress.com/industry/sme/msme-fin-eclgs-57-msmes-found-it-difficult-to-avail-modi-govts-credit-guarantee-scheme-says-report/2385362/

https://g20.org/wp-content/uploads/2022/07/CAF-Review-Report.pdf

Thanks for listening to this episode of You, Me and the Economy. For more news and analysis, check out our website- www.cenfa.org  

Indian rupee continues its free-fall, while the common man fighting hunger and inflation is pressured to pay more money on essentials. As global price of crude oil comes down, the Government is rushing to retract windfall tax on crude oil exports.

Here is your weekly round up of economy and finance!!

Listen Up!!

Links from the Podcast:

https://indianexpress.com/article/business/commodities/govt-cuts-windfall-tax-on-petrol-diesel-jet-fuel-crude-oil-8040270/

https://www.business-standard.com/article/economy-policy/windfall-tax-to-generate-nearly-rs-94-800-cr-for-govt-says-moody-s-122070500464_1.html#:~:text=On%20July%201%2C%20the%20government,of%20the%20domestic%20market%20first.

https://www.cnbctv18.com/economy/explained-what-is-windfall-tax-and-why-has-the-govt-levied-it-on-refiners-14002802.htm 

https://indianexpress.com/article/explained/indian-rupee-us-dollar-exchange-rate-explained-8038186/

https://www.businesstoday.in/latest/economy/story/rupee-hits-80-versus-dollar-heres-how-the-falling-currency-will-impact-your-life-341932-2022-07-19

https://www.livemint.com/news/india/as-indian-rupee-plunges-to-record-low-rbi-prepared-to-spend-100-billion-more-defending-currency-11658303304101.html

https://www.ndtv.com/business/rupee-hits-80-per-dollar-for-the-first-time-ever-more-weakening-seen-3171321

https://www.greaterkashmir.com/todays-paper/front-page/over-1-lakh-trees-worth-rs-1376-crore-axed-for-srinagar-ring-road-nhai 

https://www.financialexpress.com/infrastructure/airlines-aviation/jewar-airport-farmers-demand-enhanced-compensation-threaten-to-obstruct-work/2591796/ 

https://g20.org/wp-content/uploads/2022/07/G20-Chairs-Summary-3rd-FMCBG-15-16-July-2022-1-1.pdf 

https://timesofindia.indiatimes.com/city/nagpur/koradi-plants-ash-bund-falls-toxic-slurry-in-farms-and-houses/articleshow/92926900.cms 

site visit report by the EAC committee which also highlighted some of these violations conducted in 2019 was referred to. The report is here -

http://environmentclearance.nic.in/DownloadPfdFile.aspx?FileName=n9sYZfjGJY6qQHOBPTAWS60RBLRJjce+/QO723Tp6Pe1ZhmmT6sbbkpKyuLTjSEuMfuZa0lvfdRp1zWIKDND/344fxw07GHVrXcYhFXy3aSuT9RnUgVAUJHb/5XMhH/I&FilePath=93ZZBm8LWEXfg+HAlQix2fE2t8z/pgnoBhDlYdZCxzXmG8GlihX6H9UP1HygCn3pIxj9Obixc3BWfxB07ZTvXQ== 

https://www.mahagenco.in/eerteels/2022/03/KTPS-660-MW-Ash-Gen-Utilisation-Data-for-July-2021-Web-Posting.pdf 

For more news and analysis, head to our website www.cenfa.org