MIT-WPU Economics Blog

  India is well-known for its rapidly expanding economy. However, in India, there is a growing concern that is putting a damper on this success: bad debt from consumers. This issue has been rapidly worsening over the last few years, and it shows no signs of abating anytime soon. But why is bad debt among consumers growing exponentially? This rise in bad debt can be attributed to a number of factors. One explanation is that in order to keep up with the country's high cost of living, many Indian consumers are taking on increasing amounts of debt. Many people are struggling to make ends meet due to rising costs of petrol, electricity, education, and healthcare, among other things. As a result, many are resorting to credit cards and other forms of debt to meet their financial obligations. Another factor contributing to the rise of bad debt in India is that many Indian consumers are unaware of the risks of taking on too much debt. They don't realise how important it is to pa...

  Agriculture is the backbone of Indian economy. Although, we haven’t really nurtured & prospered in agriculture given the abundance of resources, our land is blessed throughout the Indian subcontinent.   After the 1 st & 2 nd 5 year plans we have kind of forgotten on how agriculture is boon to our country’s wholesome development. We see rise in industrial sectors than in agriculture. Amongst them, we have seen the following very prominently. A farmer has very less incentive to work extensively on the farm land while in non-agricultural sector, a stipulated income is given to each & every employee in the firm whereby he/she can structure the expenses, survey options for investment or savings, while a farmer invests his profit or whatever he has received is devoted to feeding his family, repaying their debt, again put input cost into buying seeds. Although so many facilities are given by the govt. not all reach out to the farmers due to obstructions from panchayat...

  As it is very well quoted by Mahatma Gandhiji, “INDIA LIVES IN VILLAGES.” But are these villages developing or do the villages have any kind of proper facility? For all these past years we have seen that rural areas don’t have proper access to any facility may it be education or any type of advanced technology. Providing them with sufficient resources will help the villages prosper and thus the GDP of the country might boost. Now-a-days all the agriculture practices are becoming knowledge based, it is very vital for the farmers to get accustomed with the upcoming trends and skills in agriculture. With globalisation and advancement of technology farmers should be trained so that they can get acquainted and can easily compete with others. The need of the hour is to give agriculture education more importance and make the farmers aware about all the benefits they can receive after practicing the modern techniques of farming rather than relying only on the traditional farming. Edu...

  (source: moneycontrol.com) JAY JAVAN JAY KISAN is just a mere slogan in India today. Farmers in India are exposed to high-risk incidences due to unstable climate, crop failure, and insufficient financial security. Crop Insurance is not a recent advancement in India and dates back to the Mughal era when Emperor Akbar introduced the Dashuri tax. In 1920 J.S. Chakravarti formulated and recommended rain insurance, the state-wise regime for then Mysore followed by a mandatory insurance scheme in Madhya Pradesh in 1943. Dr. Dharm Narain's committee in 1971 prescribed what we know as the 1972-78 experimental crop insurance scheme or First Individual Approach Model-based Scheme, executed by the General Insurance Corporation of India (GIC). In 1979-84 the GIC with Professor Dandekar's aid implemented an area-based insurance approach reaching 12 states. The scheme was for loanee agriculturalists voluntarily. Crop Insurance in India operates under four approaches - area-based, weather...

  Various government departments promote social welfare schemes. External stakeholders, municipal departments, and other organizations are included in these programs. The majority of social programmes are focused on reducing poverty and inequality. Among other things, these programmes also strive to create jobs in rural areas, provide health care and nourishment, employ small and marginal farmers and workers. In this article, the challenges and strategies for such are examined. Education, diet, hygiene, and healthcare, along with infrastructure, employment, social security, agriculture, and energy have been given due importance.   Early development is critical to your child's development since it allows you to acquire the capacity and knowledge to make informed decisions regarding agriculture. Enhances manpower, strength, and production by providing a skilled workforce and connecting the rural and urban sectors. These schemes were created to provide basic employment, educate...

    LAND = धरती माँ , THEN WHY NOT WOMEN?   Well, let’s talk about “Women & Land Reforms” in India.   The irony of the prevalent situation stands out to be in the title prominently, describing not only the gender discrimination evident in India but also the idiosyncrasy ubiquitous within the roots of women of the country. The much-discussed Hindu Succession Amendment Act, 2005 and Land Reforms have focused on the rights of women to hold property, but before that, there are myriad questions that need to be answered to comprehend the picture at large, such as how much land in India are owned by women? What is the type of land (i.e., NA:  Non-Agricultural Land or Agricultural Land)?  What is the type of tenure? What is the size and fertility of the land? Such questions define the economic power and social status of women and also answer the required vicissitudes in the paradigm. Presently, by the National Family Health Survey- 4 men’s landholding on an a...