-The Hindustan Times Mahatma Gandhi urged us, in our moments of doubt, to recall the face of the poorest person we may have seen and ask ourselves whether the step we are contemplating is likely be of any use to him or her. It is in this spirit that Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was launched. It is perhaps the most ambitious social security and public works programme...
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Kerala govt mulling waiver of stamp duty for farm loans
-The Hindu Thiruvananthapuram (Kerala): The government is considering a proposal to exempt stamp duty on agricultural loans issued by commercial banks. Finance Minister K.M. Mani told a meeting of the State Level Bankers Committee (SLBC) here on Monday that a decision on the issue would be taken soon after assessing the financial implications. Pointing to the substantial share of commercial banks in primary sector credit, the last meeting of the SLBC had...
More »38% large projects face green roadblocks -Sidhartha
-The Times of India NEW DELHI: Almost two out of every five large projects in the country are held up due to absence of clearance by the ministry of environment and forests, putting pressure on the government to remove green roadblocks. According to ministry-wise data compiled by the government for projects worth over Rs 1,000 crore, nearly 38% are related to MoEF, which many view as the most powerful inspector, followed by...
More »UP sugar mills run 'ponzi scheme' to pay farmers' dues -Anil Sasi
-The Indian Express On the surface, the sugar crisis in Uttar Pradesh may seem to be inching closer to a resolution. But cane farmers may have unwittingly mortgaged their land, signing up for crop loans from public sector banks, with the money so raised being used by the mills to pay arrears of a different set of farmers. This model, of mills rotating working capital loans from banks, to deliver pending payouts...
More »Incentives for Speeding Up SHGs' Formation in Bihar
-Outlook Patna: The Bihar government would bear the interest rate above 7 per cent on loans taken by Self Help Groups (SHGs), Chief Minister Nitish Kumar said today. The SHGs paying loan on time would be given incentive by providing loan at a lower interest rate of 4 per cent, Kumar said addressing a review meeting of "Jeevika" (Bihar state rural livelihood mission) here. Banks are at present providing loan to SHGs at...
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