-Scroll.in The Insolvency and Banking Code was brought in as a law in May 2016 to resolve cases of unpaid debts by companies. It allows creditors to initiate insolvency proceedings against defaulting companies so as to recover their money. The code was thought necessary because existing systems of dealing with insolvent companies had failed to deliver, with cases dragging on for years without result. The code sets up an Insolvency and Bankruptcy...
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'Budget has little for demonetisation-hit social sectors' -Aesha Datta
-The Hindu Business Line Experts concerned over low allocations for key schemes New Delhi: It’s like demonetisation didn’t happen at all, activists and economists exclaim. Budget 2017-18, coming right after the demonetisation move, had raised hopes of greater allocations for social sectors — what with Prime Minister Narendra Modi’s mantra of Sabka saath sabka vikaas. Yet, there is all-round disappointment. “It is quite extraordinary. Post demonetisation, this is when you needed substantial moves for...
More »Modi Government's Budgetary Allocation for MNREGA Is Barely an Increase
-TheWire.in Two supplementary MNREGA allocations were made by the government last year. This means, there’s only a 1%, not 25%, actual increase in this year’s Budget. New Delhi: The finance minister claimed that this year’s Budget allocations for the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) were a new “record”, at Rs 48,000 crore. But is this really a substantial increase? And, more importantly, is it enough? The 2016-17 Budget had...
More »MGNREGA spending high, call for Rs 10,000 crore extra -Shalini Nair
-The Indian Express As part of the first supplementary grant of demands, the ministry had released an additional Rs 5,000 crore — a third of the Rs 15,000 crore the MoRD had demanded to meet increased expenditure in drought-affected states. The Ministry of Rural Development has sought Rs 10,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) as part of the second batch of supplementary demand of grants, set...
More »MGNREGA in Drought-Hit States: Work demand rises, but majority wait for additional days -Shalini Nair
-The Indian Express Across the country, wage employment generated under the scheme has gone up from 32 crore person-days in April - May 2015 to 51 crore person-days in the corresponding months of 2016. Signalling an increase in uptake of MGNREGA work on the ground owing to drought as well as the slow revival of the scheme itself, the person-days generated in the first two months of the financial year has gone...
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