TILL the year 1969, all thebanks except State Bank of India and its subsidiaries were in the private hands. During this period more than 500 private banks collapsed due to bankruptcy with the result the people lost their considerable portion of their money deposited in these banks.  Remaining banks were in the hands of a few corporates who used the banks’ funds for the improvement of their own business.  These banks did nothing either to improve the economy of the nation or to improve the standard of living of the common people.

THE decision to observe International Women’s Day focussing on the issues of women was taken by the second international conference of socialist women held in Copenhagen, in 1910. In 1911, millions of women marched on the streets on the occasion of International Women’s Day. Over the years March 8 has come to be accepted and observed all over the world as International Women’s Day.The origin of International Women’s Day lies in the struggles of women workers against their exploitative working conditions and to assert their rights and this struggle continues to this day.

THE road map for the next five years for devolution of funds to the states as recommended by the 15th Finance Commission(XV FC) is ready. The XVFC has met in the last few years and the previous year was the year of Covid pandemic and as a natural corollary-lessons to be learnt. However, the recommendations of the XV FC tend to belie the aspirations of the states and the people from getting a due share. The structure of recommendations is reduced on the basis of need and equity and more discretionary with the union.

PRIME Minister Modi is evidently upset with the growing resonance in the country with the never-say-die movement of the kisans. The movement which has now assumed the form of vigorous united and peaceful resistance is the rallying point of various sections of the class-differentiated peasantry in India. It is this remarkable unity which defines both the spread and depth of the resistance. It is faced with this granite stonewall that the prime minister betrayed his sense of frustration!

THE budget for the year 2021-22 was placed in the background of the ravaging pandemic and with a hope that the urban centres, which saw the worst kind of forced-reverse migration in recent times would be addressed holistically. The budget speech began with the recognition of the crisis that the pandemic has brought to the nation and its people, the finance minister whilst recognizing the role played by essential workers offer very little to them in return.