-PTI New Delhi: The government is likely to increase the budget allocation for the Pradhan Mantri Fasal Bima Yojana (PMFBY) to ? 13,000 crore for 2018-19 from ?10,701 crore for the current financial year. The Union Budget for 2018-19 will be presented on February 1. Under the upgraded crop Insurance scheme PMFBY that was launched early 2016, farmers pay very nominal premium and get full claim for damages. Budget allocation for the PMFBY could...
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A statistical boost to growth in Indian economy -Manas Chakravarty
-Livemint.com While CSO’s GDP growth estimates will be a disappointment, it will very likely be explained away soon as the market tries to find new and innovative reasons to extend the rally For a few quarters, take all year-on-year (y-o-y) growth figures about the Indian economy with a pinch of salt. That’s because they will now be boosted due to the favourable effect of a low base. Since demonetisation and the introduction...
More »Why farmers don't have electoral clout -Avik Saha and Yogendra Yadav
-Down to Earth Although farmers vote at least as much, if not more than industrial workers or urban middle classes, elections are not fought around farmers' issues Elections are about numbers. Democratic politics is about stitching together a majority. So, the larger a group, the bigger is its “vote bank”, and greater is its electoral clout. A social group that constitutes a majority can therefore dictate its terms in an electoral democracy....
More »Expect a Budget for angry Bharat -TV Jayan and Rutam Vora
-The Hindu Business Line Falling farm prices, drying up of industrial jobs and lesser MGNREGA work have sharpened rural discontent. The Budget cannot ignore these factors in a year of 8 State polls The year 2017 was roiled by rural discontent. After two consecutive drought years (2014-15 and 2015-16), when agriculture growth plummeted (see table), the countryside was awash with hope after a good monsoon in 2016-17. However, record foodgrain output (272 million...
More »Failing banks: Govt looking at refund mechanism to protect depositors -Richa Mishra & KR Srivats
-The Hindu Business Line Bonds to make up for shortfall being considered New Delhi: To ensure that a depositor does not lose his/her money during a resolution or insolvency process of any failing bank, the government was considering a refund mechanism. The newly proposed resolution and insolvency framework for financial entities envisages the framing of a new scheme for refund of depositors’ monies in troubled banks, while providing higher protection to them, sources...
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