Following the recommendations of the Shanta Kumar Committee report on restructuring of the Food Corporation of India (FCI), there are signs that the Central Government is in a hurry to replace the Public Distribution System (PDS) with cash transfers. The Government's intention has been revealed in two official letters (one dated 10 February 2015 and another dated 11 February 2015) that were sent from the Joint Secretary at Department of...
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Next phase of Jan-Dhan to offer a range of insurance, pension services
-The Times of India NEW DELHI: Prime Minister Narendra Modi on Saturday outlined the next phase of the Jan-Dhan Yojana to include credit, insurance and pension as he complimented bankers for near 100% coverage of households under the massive financial inclusion drive. The Pradhan Mantri Jan-Dhan Yojana is a key policy plank of the Modi administration's vow to eradicate what it calls "financial untouchability". Each bank account comes with an accident insurance...
More »BJP-ruled states slow in linking Jan Dhan with Aadhaar -Sandeep Singh
-The Indian Express New Delhi: Even as Prime Minister Narendra Modi has made the Pradhan Mantri Jan Dhan Yojana (PMJDY) a flagship programme of his government, BJP-ruled states seem to be lagging behind in linking these accounts with Aadhaar - the first step towards enabling direct benefit transfers. Among the large states which accounted for over 10 lakh Jan Dhan accounts as on November 12, Telangana and Andhra Pradesh top the list,...
More »New subsidy regime
-The Hindu Business Line The Centre has adopted a pragmatic approach to cooking gas subsidies The reintroduction of the direct benefits transfer scheme for the supply of cooking gas, after its withdrawal in March this year, is a welcome signal that subsidy targeting is back on the policy agenda. Unlike its UPA avatar, cash transfers will now be based on LPG consumers providing their bank account numbers, rather than Aadhaar numbers, to...
More »Banking on a flimsy promise -Jitendra
-Down to Earth The government is clueless about incentives it has promised under its Pradhan Mantri Jan Dhan Yojana to bring every family under the formal banking system ON AUGUST 15, when Prime Minister Narendra Modi announced extending the financial inclusion plan of the former UPA government and renamed it Pradhan Mantri Jan Dhan Yojana (PMJDY), he was well aware of its limitations. Though launched in 2010, the plan had miserably failed...
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