-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
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Curious case of Mudra loan failure and disconnect of BJP's election winning machine -Prabhash K Dutta
-IndiaToday.in Total value of Mudra loans stood at Rs 5.57 lakh crore. Total number of employment generated from this amount stood at 1.12 crore. This means every single employment cost the government around Rs 5 lakh under Mudra Yojana. * PM Modi launched Mudra Yojana as a flagship job creation programme in 2015 * Recent reports say only 20 per cent Mudra loans led to fresh employment * Mudra Yojana Survey by Labour Ministry...
More »Just 1 in 5 Mudra beneficiaries started new business, half of extra jobs were self-employment: Govt survey -Aanchal Magazine
-The Indian Express The Mudra Yojana was launched in April 2015 to provide funding to the non-corporate small business sector through various financial institutions like banks, NBFCs and Micro Finance Institutions (MFIs). The government’s constant refrain has been that its flagship Mudra scheme is an engine for Entrepreneurship and employment. A survey by the Labour Ministry, yet to be made public, offers a reality check: just one out of five beneficiaries...
More »The problem of skilling India -Christophe Jaffrelot & Vihang Jumle
-The Indian Express India’s employment crisis calls for more government expenditure in education, adequate training. Prime Minister Narendra Modi, in his recent Independence Day speech, said, “We need to worry about population explosion”. These words stand in stark contrast to his previous references to India’s demographic dividend where the country’s population was seen as an asset. This shift reflects a new awareness, according to which demography brings a dividend only if...
More »States need to have better control on long-term credit flow: NITI Aayog official
-PTI New Delhi: State governments need to capitalise their credit institutions to get access to long-term finance and have better control over their credit flow, a NITI Aayog official said. The states have no control over the long-term finance right now, but nobody is stopping them from recapitalising finance corporations which will allow them to on-lend at attractive rates to Entrepreneurs, NITI Aayog Special Secretary Yaduvendra Mathur said. “States can’t just wait that...
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