-The Indian Express NEW DELHI: The government’s ambitious minimum support price (MSP) scheme to improve farmers’ income has hit a roadblock as Niti Aayog missed the deadline to suggest a viable procurement model. Finance minister Arun Jaitley had announced in his Budget speech the government would ensure agriculture produce is procured at the revised MSP, which will be 1.5 times the production cost. The Centre had entrusted the think tank with...
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No hike in MGNREGA wages in 10 states -Shalini Nair
-The Indian Express In the worst wage revision in the history of the rural employment guarantee scheme, that started in 2006, MGNREGA workers in 10 states will get no hike in their wages for FY 2018-19, according to the revised wage rates issued by the Union government. In the worst wage revision in the history of the rural employment guarantee scheme, that started in 2006, MGNREGA workers in 10 states will get...
More »Corporates make 73% of public sector bank bad loans -Sunny Verma
-The Indian Express The Finance Ministry directed smaller PSBs to cut their corporate loan exposure to 25 per cent of their risk-weighted assets over the medium term and focus more on retail lending. Corporate loans corner the lion’s share of rising bad loans in public sector banks while retail loans have a far superior track record when it comes to timely repayment, according to the latest available Reserve Bank of India...
More »RBI governor Urjit Patel lists all the (other) reasons for PNB fraud -Malvika Joshi
-Livemint.com RBI’s regulatory powers over PSU banks are weaker than those over the private sector banks, says Urjit Patel, putting the onus of tackling bank frauds such as the one at PNB on the finance ministry Mumbai: Reserve Bank of India (RBI) governor Urjit Patel broke his silence on Wednesday on the PNB fraud, putting up a blistering defence for the regulator and sought to put the onus on the finance ministry...
More »Rural wage blow looms -Basant Kumar Mohanty
-The Telegraph New Delhi: The national rural job scheme is set to witness the lowest wage revision since the project was launched. The Union finance ministry is learnt to have rejected a proposal to change the formula for revising the wage rate for 2018-19 under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for 2018-19. The rates in 10 states, including Bihar, Jharkhand, Uttar Pradesh and Uttarakhand, are expected to remain unchanged,...
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