-The Hindu Multiple bank visits, repeated rejections and biometric errors mar payment system, says study. For most rural workers dependent on the Mahatama Gandhi National Rural Employment Guarantee Scheme (MGNREGS), their labour does not end at the work site. According to a study by LibTech India released on Wednesday, many of them are forced to make multiple trips to the bank, adding travel costs and income losses, and face repeated rejections of...
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Is loan guarantee scheme serving the purpose? -Madan Sabnavis
-The Hindu Business Line MSMEs are using funds from the Emergency Credit Line Guarantee Scheme more to pay off earlier loans than as growth capital The Emergency Credit Line Guarantee Scheme (ECLGS) was one of the highlights of the economic package announced by the government in May, and it became operational on May 23. The scheme is basically a loan guarantee for all MSMEs which were operational as on February 29 with...
More »Why Government Acted The Way It Did In Rajya Sabha -Brinda Karat
-NDTV Eight opposition members of parliament, arbitrarily suspended from the Rajya Sabha, spent last night at a protest dharna at the foot of the Gandhi statue within the compound of parliament. The conduct of the government and its officials in the Rajya Sabha, which led to such a development, brings it no credit. The country was denied the opportunity to witness the proceedings in the Rajya Sabha on Sunday when the...
More »Time to act on MGNREGA -Ankita Aggarwal and Anmol Somanchi
-The Indian Express Covid-related crisis offers NDA government opportunity to increase work days, entitlements under the employment guarantee scheme. In a recent article (‘Credit where it isn’t due’, IE, June 10), Union Minister for Rural Development Narendra Singh Tomar described the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) as a “failing scheme” before 2014. MGNREGA under the United Progressive Alliance (UPA) government was by no means perfect, but when the National...
More »High rates, low demand: Stressed MSMEs can’t tap into Govt relief -Sunny Verma
-The Indian Express Viable companies, with good credit history, are able to raise funds, but the most needy among the MSMEs are facing a double whammy: slump in demand and lack of finance. Banks have started disbursing funds to Micro, Small and Medium Enterprises under the 100% Emergency Credit Line Guarantee Scheme announced by Finance Minister Nirmala Sitharaman last month but for many firms, hit hard by the pandemic lockdown, credit is...
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