-The Indian Express Earlier this month, the ministry of finance announced that over 50 million new bank accounts have been opened and 17 million debit cards issued since the launch of a bold new plan to grant financial access to the poor. Prime Minister Narendra Modi announced this initiative, called the Pradhan Mantri Jan Dhan Yojana (PMJDY), in a speech in August. Its ultimate goal is to reach 150 million unbanked...
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A big bang reform that may be spot on -TT Ram Mohan
-The Hindu The reassuring message in the Pradhan Mantri Jan Dhan Yojana is that in pursuing its economic objectives, the government wants to accord an important role to the public sector even while relying on market mechanisms The goal is hard to achieve. It is costly and unviable. It will create huge stresses in the banking system. The Narendra Modi government's Pradhan Mantri Jan Dhan Yojana (JDY), an ambitious scheme for financial...
More »Jan Dhan Yojana: Many questions remain -Ishan Bakshi, Nitin Sethi & Surabhi Agarwal
-The Business Standard Against NDA's 75 million target, UPA added 61 million in 2013-14 The government's financial inclusion scheme, Pradhan Mantri Jan Dhan Yojana, is an empty shell at the moment. The government heralded its achievement of clocking 15 million new bank accounts under the scheme by Thursday and looked ahead to the target of achieving 75 million accounts by January 2015. In fact, given that the UPA government added an additional 60.9...
More »MGNREGS under EC scanner: CEO-Sruthisagar Yamunan
-The Hindu Chennai (Tamil Nadu): Chief Electoral Officer Praveen Kumar on Wednesday said the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) was under the scanner as there were complaints of diversion of workers to public meetings of political parties. At a press conference here, the CEO said the Returning Officer of each constituency had been asked to keep a watch on the work under the scheme. "We have asked them to...
More »Karthik Muralidharan, an assistant professor in the University of California interviewed by Sanjeeb Mukherjee
-The Business Standard Since the United Progressive Alliance (UPA) government decided to put on hold the Aadhaar-based subsidy transfer for domestic liquefied petroleum gas (LPG), questions have been raised about the future of one of Congress' most ambitious initiatives aimed at plugging leakages. Two months after the government move, a pioneering study by economists Karthik Muralidharan, Paul Niehaus and Sandip Sukhtankar showed leakages dropped 12 per cent when smart cards were...
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