-Livemint.com * Trying to project lower interest rates as a panacea for everything isn’t the right way to go about it. The central government just played an April Fool’s joke on a large section of India’s middle class, which invests in small savings schemes. Late Wednesday evening, the government announced a substantial cut in interest rates on small savings schemes for the three months to June. The interest rates on Senior Citizen Savings Scheme...
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Government withdraws order on rate cut on small savings schemes -Vikas Dhoot
-The Hindu This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after switching to a quarterly interest rate setting system in April 2016. Hours after notifying significant cuts in small savings instruments’ returns for this quarter, the government has backtracked on these sharp cuts. This is the first time that the Centre has scrapped the notified interest rates on small savings schemes after...
More »Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates
Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...
More »Workers demand implementation of policy for migrants
-The Hindu They say almost a year after COVID-19-induced lockdown, govt. has not kept its promises A group of hawkers, sex workers, domestic workers, rescued bonded labourers and other unorganised workers gathered at Jantar Mantar here on Thursday, almost a year after Prime Minister Narendra Modi announced a lockdown to curb the spread of COVID-19, setting off a crisis for migrant workers, to demand that the government fulfil the promises made during...
More »Rs 50,000 crore, or 20% of funds allotted for SC welfare, left unused by Modi govt in 4 years -Neelam Pandey
-ThePrint.in From 2017-18 to 2020-21, approx. Rs 2.6 lakh crore was sanctioned for welfare of Scheduled Castes. Of this, Rs 49,722.18 crore was surrendered by ministries/departments. New Delhi: Around 20 per cent of the funds allocated for the welfare of the Scheduled Castes (SCs) between 2017-18 and 2020-21 — totalling approximately Rs 50,000 crore — were left unused by multiple Union ministries/departments, ThePrint has learnt. This, sources said, has led the Modi government...
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