The Rs.3,884-crore package for the handloom sector, which includes one-time waiver of overdue loans and interests, approved by the Union Cabinet, is expected to benefit about 3-lakh weavers and 15,000 cooperative societies, which would have access to institutional credit once again. However, the package will benefit only those who took loan before March 31, 2010. “There would be many weavers who had no access to institutional credit in the past and...
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BJP offers hand on pension bill
-The Telegraph The Centre has reached an agreement with the BJP to pass a bill on pension reforms in the next “two or three” days, according to a cabinet minister. It has also been working on UPA partner Trinamul Congress, which is opposed to the bill. The BJP agreed after the government gave in on two of its demands related to the legislation, the Pension Fund Regulatory and Development Authority Bill, 2011. One was...
More »Survey of child labour in five U.P. districts ordered by Aarti Dhar
“Total abolition of child labour central to human development” The National Commission for Protection of Child Rights (NCPCR) has ordered a survey of child labour in five districts of Uttar Pradesh, where a large number of children are employed in carpet industry and other labour intensive units. The survey will include data on the number of children rescued and action taken for their rehabilitation. The survey directive was given by a jury...
More »FDI in Retail: Misplaced Expectations and Half-truths by Sukhpal Singh
The central government claims that allowing foreign direct investment into India’s retail sector will benefit small farmers, expand employment and lower food inflation. What has been the experience in India with organised retail so far and what has been the global experience with FDI? Sukhpal Singh (sukhpal@iegindia.org) is currently at the Institute of Economic Growth, Delhi. After being under relentless attack for a week, the United Progressiv Alliance government was forced to...
More »Rs.2,350-crore package for handloom weavers
—PTI The Cabinet on Sunday approved a Rs. 2,350-crore package for crisis-ridden handloom weavers, mostly concentrated in poll-bound Uttar Pradesh. The package is part of a Rs. 6,234-crore scheme for handloom weavers announced last month by Commerce and Industry Minister Anand Sharma at Varanasi following an advice from AICC general secretary Rahul Gandhi, who is extensively touring U.P. in the run-up to Assembly elections. The package comprised Rs. 3,880 crore for the loan...
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