-The Hindu With unseasonal rain laying waste vast areas under the rabi crop in north India earlier this year and the threat of a deficient monsoon looming, the Mahatma Gandhi National Rural Employment Guarantee Scheme could act as a real salve for distressed farm workers and labourers. The World Bank’s brief statement on the scheme on Tuesday to this effect, as part of its latest India Development Update, concurs with recent...
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The inclusion project -Shamika Ravi
-The Indian Express A little more than a week ago, World Bank chief Jim Yong Kim praised Prime Minister Narendra Modi for launching the Pradhan Mantri Jan-Dhan Yojana (PMJDY), which he called an “extraordinary effort” at financial inclusion. According to the Union Finance ministry, India has attained 99 per cent financial inclusion, measured as households’ access to bank accounts. Within three months of launching the PMJDY, the government entered the Guinness...
More »Rs. 4.85 lakh crore tax due from corporates
-IANS Corporates owed over Rs.4.85 lakh crore to the government as outstanding dues under direct and indirect taxes towards the end of the last fiscal, parliament was told on Tuesday. "The total outstanding tax demand pending collection under the head corporate tax under the Direct Tax laws as on February 28 is over Rs.3.20 lakh crore," Minister of State for Finance Jayant Sinha told the Rajya Sabha in a written reply. As on...
More »It's not rural India alone; job scheme also in distress -Nitin Sethi
-Business Standard Even as country stares at a possible drought, Mahatma Gandhi National Rural Employment Guarantee Scheme has hit a new low At a time when rural India is in distress, the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), which could have provided some relief, is itself facing its worst period ever. The number of people working under the scheme and the amount of work provided is dwindling, and the trend...
More »Why RBI had to protect small farmers -Ravi Krishnan
-Livemint.com The RBI norms towards targeted marginal lending for the small farmer is a structural solution to aid them—unlike bailout packages, which provide only short-term relief In its latest overhaul of priority sector lending rules, the central bank has stipulated that lenders should funnel at least 8% of their credit to small and marginal farmers. While the overall agriculture loan growth has galloped over the past decade, the chart shows why...
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