-The Telegraph Funding small entrepreneurs will require more bank loans, preferably collateral-free, which will generate more NPAs The government has been compelling banks to adopt a softer lending policy to promote self-employment. The Pradhan Mantri Mudra Yojana, launched in 2015, provides collateral-free loans to small entrepreneurs outside the farming sector in three categories: Rs 50,000 loan in the ‘Shishu’, Rs 5,00,000 in the ‘Kishore’ and Rs 10,00,000 in the ‘Tarun’ segments respectively....
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Revalidate signal to labour bureau on Mudra job creation data -Basant Kumar Mohanty
-The Telegraph Only 1.12 crore jobs created in three years under the Mudra scheme, the bureau's data suggested New Delhi: A central government agency has been asked to “revalidate” data which estimated that only 1.12 crore additional jobs were created in three years under the Pradhan Mantri Mudra Yojana, a scheme Prime Minister Narendra Modi cites to defend his record on employment generation, sources have told The Telegraph. Several independent analysts suspect that...
More »MGNREGA Workers Not Paid for Months, FIRs to be Lodged Against PM Modi - Tarique Anwar
-Newsclick.in The additional funds of Rs 6,084 crore released recently will go into clearing the backlog of pending liabilities. Contrary to the claims of highest ever allocation to the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), the social security scheme that aims to guarantee the right to work is facing severe fund crisis – with state governments left with no funds to pay workers. From October 2018 to February 1, no...
More »NSSO job loss report junked, Niti Aayog taps Mudra survey for data -Amitav Ranjan
-The Indian Express Findings of the Labour Bureau’s survey on jobs created under MUDRA scheme will be used to laud its achievement on this front. New Delhi: The NDA government plans to junk the National Sample Survey Office (NSSO) report on unemployment and, instead, use findings of the Labour Bureau’s survey on jobs created under the Micro Units Development & Refinance Agency (Mudra) scheme to laud its achievement on this front. Niti...
More »Defaulting Punjab farmers face jail as banks file criminal cases -Anju Agnihotri Chaba
-The Indian Express All the farmers who faced criminal action for defaulting on loans say they were made to sign on blank cheques. “If you write about our plight, will the government stop banks from sending us to jail?,” asks Ujagar Singh. The 60-year-old from Jhumba village in Bathinda district is among scores of Punjab farmers who have been convicted or are facing trial in criminal cases of cheque-bouncing filed by banks...
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