-The Hindu Atma Nirbhar Bharat Abhiyan 3.0 includes scheme to incentivise new recruitment. Finance Minister Nirmala Sitharaman on Thursday announced a fresh set of relief and stimulus measures for the economy worth ₹1.19 lakh crore, including a scheme to boost re-employment chances of formal sector employees who lost their jobs amidst the COVID-19 pandemic. The measures, announced a day after the Reserve Bank of India (RBI) said the country had entered into a...
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Four years since demonetisation: Cash in system steadily rising, at all-time high -George Mathew and Sandeep Singh
-The Indian Express After Rs 500 and Rs 1,000 notes were withdrawn from the system in November 2016, currency with the public, which stood at Rs 17.97 lakh crore on November 4, 2016, declined to Rs 7.8 lakh crore in January 2017 soon after demonetisation. Four years after the government announced demonetisation on November 8, 2016, the currency with public for the fortnight ended October 23, 2020 stood at a record high...
More »Scholarship scam spreads to Bihar, ropes in school from Punjab too -Abhishek Angad
-The Indian Express The Indian Express has found several cases of the pre-Matric scholarship being illegally diverted by middlemen in Bihar as well. Gaya, Saharsa: The Scholarship scam, in which money meant for poor minority students is siphoned off, is not limited to Jharkhand, but has crossed state borders. Investigating entries, district by district, on the National Scholarship Portal (NSP) and matching them with beneficiary bank accounts in the Public Finance Management System...
More »Lockdown Woes: How Successful Have the Centre's Efforts to Boost NREGA Been? -Debmalya Nandy
-TheWire.in Despite a welcome increase in budgetary allocation, it's less clear if the programme was able to truly serve the massive rural demand that was sparked by the lockdown. The Finance ministry announced an additional allocation of Rs 40,000 crore in May 2020 to boost India’s rural job programme. It was announced that the supplementary allocation will be over and above the Rs 61,500 crore that was the budgeted estimate for the...
More »Loan interest waiver to be credited by November 5
-The Hindu Scheme will be implemented even for borrowers who did not avail moratorium. Three weeks after informing the Supreme Court that the Centre would bear the additional compound interest on loans of up to ₹2 crore availed by retail borrowers as well as micro, small and medium enterprises (MSMEs), the government formally communicated the modalities of the scheme to lenders on Friday. Banks and other lenders, including co-operative banks and non-banking Finance...
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