-GaonConnection.com The half-yearly MG-NREGA National tracker launched by PAEG today highlighted that 90 per cent of the allocated budget has been used up with 5 months of the programme still remaining and the remaining funds available can cover at most 13 days of employment per household till March 31, 2022. More details here. In her opening statement at the joint press conference conducted by Peoples’ Action for Employment Guarantee (PAEG) and LibTech...
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Stop chasing profits at customers' expense, RBI Deputy Governor tells MFIs
-The Hindu The RBI deputy governor reminded the industry that their customers often have lower level of financial awareness and literacy and ‘are often too desperate to turn away any source of credit’. Micro-Finance lenders must refrain from chasing profits and introspect on the ‘negative consequences’ of pushing their borrowers into a debt trap, using harsh recovery practices and harassing customers as this could undo the sector’s progress, a top central banker...
More »Parameters of climate Finance and technology transfer remain undefined: FM Nirmala Sitharaman -Sriram Lakshman
-The Hindu Developed countries have committed under the Paris Agreement to allocate $ 100 billion per year from 2020 onwards to facilitate emission cuts in poorer countries and also to effect technology transfer in this context. Questions around how the $100 billion yearly commitment towards climate Finance will be measured, and related technology transfer accounted for, remain unanswered, Union Finance Minister Nirmala Sitharaman said at the conclusion of the Washington DC leg...
More »Controversial order to split MNREGA payments on caste lines withdrawn after states object -Neelam Pandey
-ThePrint.in Social justice ministry noted that its field report indicated a deepening of caste division within village communities over segregation of workers into SCs, STs and others. New Delhi: The Modi government’s controversial decision to split wage payments along caste lines under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has been withdrawn and the earlier system of payment from a single account has been restored, ThePrint has learnt. The move made...
More »What the global minimum tax deal means for India -Jagadish Shettigar and Pooja Misra
-Livemint.com The Finance ministers of G-20 countries are scheduled to meet today in Washington to discuss the global minimum tax of 15% for multinational enterprises. Mint looks at the global minimum tax and its implications. * What is the global minimum tax? Last week, the Organization for Economic Co-operation and Development (OECD) finalized a landmark agreement to subject multinational enterprises (MNEs) to a minimum 15% tax from 2023. A total of 136 countries,...
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