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Government not inclined to bear loan moratorium costs

Government not inclined to bear loan moratorium costs

Finance
The government is not inclined to bear the burden arising of the recent Supreme Court judgement on a blanket waiver of compound interest or interest on interest on all loan accounts which opted for moratorium during March-August 2020. "They (banks) are well-poised to handle this and we don't see any space for government relief," said a senior government official. The government has already compensated banks for the interest on interest they had lost on loans outstanding below Rs 2 crore. Analysts estimate the additional cost to reimburse banks for all loans at Rs 7,000-10,000 crore. "There is no directive from the court ordering the government to bear this cost," the government official said on the condition of anonymity. Since there is no deadline to refund the compound interest they hav...
Hospital costs for substance use patients exceed $13B annually, study finds

Hospital costs for substance use patients exceed $13B annually, study finds

Health
March 5 (UPI) -- The diagnosis and treatment of substance use disorder, as well as the management of related health complications, including overdoses, results in more than $ 13 billion in medical costs annually, an analysis published Friday by JAMA Network Open found. More than half of these costs -- $ 7.6 billion -- were tied to caring for patients with alcohol-related disorders, the data showed. Advertisement Just over $ 2.2 billion was spent on treating patients with health issues related to opioid use, the researchers said. Examples of opioids include "street" drugs such as heroin, as well as prescription pain medications used illegally or inappropriately, according to the National Institute on Drug Abuse. "U.S. hospitals are seeing a big increase in patients seeking acute treatment...
Inflation: Food and furniture costs drive inflation higher

Inflation: Food and furniture costs drive inflation higher

Business
Getty ImagesPrices rose in January as locked-down consumers paid more for food and sellers of furniture and other household goods offered smaller-than-usual New Year discounts. Inflation rose 0.7% in the 12 months to January, up from December's 0.6%, the Office for National Statistics said.However, the costs of clothing and footwear bucked the trend and fell. It came as some experts warned inflation could exceed the Bank of England's 2% target by the end of 2021.According to the ONS, food prices rose by 0.6% in January, compared with a fall of 0.1% last time. Premium potato crisps and cauliflowers saw big increases after being discounted before Christmas. The price of fresh salmon and frozen prawns also rose. Jonathan Athow, deputy national statistician for economic statistics at the ONS,...
Trampoline prices ‘to soar 50% on shipping costs’

Trampoline prices ‘to soar 50% on shipping costs’

Business
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Brexit will increase food supply chain costs, warn business groups

Brexit will increase food supply chain costs, warn business groups

Business
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