-The Hindu The first increase in 27 years assumes significance in the wake of the crisis at PMC Bank Mumbai: The government has decided to increase the insurance cover for bank deposits to ?5 lakh from ?1 lakh, Finance Minister Nirmala Sitharaman said in her Budget speech. This is the first time since 1993 that the deposit insurance cover has been raised. The Finance Minister assured that there was a robust mechanism in...
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Examining the FM's PLAn to double farmers' income in two years -Ashok Gulati
-The Indian Express The FM’s other ideas for agriculture, especially on Zero Budget Natural Farming (ZBNF), which she repeated this year, need to be tested before it becomes a national policy. In her Budget speech, Nirmala Sitharaman spelled out sixteen measures to reboot agriculture and re-affirmed the Modi government’s resolve to double farmers’ incomes by 2022. Agriculture is categorized by her as “Aspirational India”. All these sixteen measures are broadly in the...
More »Employees' unions oppose govt PLAn to sell shares in LIC
-PTI Finance Minister Nirmala Sitharaman said the Life Insurance Corporation of India (LIC) will be listed as part of the government disinvestment initiative. LIC employees' unions on Saturday opposed the Centre's PLAn to sell a part of its shares in the state-run insurance behemoth through an initial public offer (IPO), insisting that the move is "against the national interest". Please click here to read more. ...
More »ExPLAined: How the government PLAns to reboot the economy with this budget -Udit Misra
-The Indian Express Boosting consumption by leaving people with higher disposable incomes is the key strategy The fine print of the Union Budget for 2020-21 notwithstanding, the central strategy of the government seems to be to boost the disposable incomes of the Indian consumers. * What was the problem slowing down the economy? Typically, there are four engines of GDP (gross domestic product) growth. These are as follows: Consumption of the private individuals (or...
More »MGNREGA allocation slashed by Rs. 9,500 crore in the Union Budget 2020-21, allege Right to Work activists
-Press release by Peoples' Action for Employment Guarantee dated 1 February, 2020 The Peoples’ Action for Employment Guarantee is distressed to note the total lack of responsibility and sensitivity accorded by the Union Budget 2020-21 to the rural economy in General, and MGNREGA in particular. It is telling and obviously callous that the Budget estimate for this year at Rs. 61,500 crores is Rs. 9,500 crores less than the revised estimate...
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