The scheme is in the lines of Nabard's self-help group bank linkage programme, which is recognised as one of the largest microfinance programmes in the country.
The Tamil Nadu Assembly on Friday passed a bill providing internal reservation of 10.5 per cent for Vanniyars, a most backward community in government jobs and in admission to educational institutions.
Replying to the general discussion on Budget in Lok Sabha, she said the former Congress chief was creating fake narratives but does not have patience to listen to replies on allegations levelled against the government.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
Prime Minister Narendra Modi on Friday said the Centre has transferred around Rs 1,35,000 crore so far under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme with the payment of eighth instalment on Friday and is also procuring higher quantity of paddy and wheat at minimum support price to boost farmers' income.
The government plans to borrow Rs 4.17 lakh crore (Rs 4.17 trillion) from the market. Last year it had borrowed Rs 4.47 lakh crore (Rs 4.47 trillion).
There is a clamour for changing land-use from agriculture to commercial, residential or industrial.
The government is planning to provide collateral-free loan up to Rs 1.50 lakh to farmers through the Kisan Credit Card scheme.
The reforms will help FPOs procure directly from farmers, something that they have been pressing for long.
The panel noted that the macro-economic fundamentals of the economy are sound but challenges remain, several of which are structural in nature.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
While everybody is talking about the vast potential of 5G, the uptake of such services in India depends on operators getting around 100 Mhz 5G spectrum. At the reserve price proposed by Trai, getting this spectrum will cost a telco around Rs 490 billion. Which amount could be difficult for operators to mop up, given the financial stress they are undergoing, says Kiran Rathee.
With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. She rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
The finance ministry has called a meeting of the State-Level Bankers Committee in New Delhi on Tuesday, which will be attended by officials from scheduled commercial banks, regional rural banks, cooperatives, Reserve Bank of India, National Bank for Agriculture and Rural Development, the Centre as well as states. The meeting will be presided over by financial services department secretary Arun Ramanathan.
According to official statistics, half of India's GDP comes from as many as 420 million workers in the unorganised sector including street vendors, rickshaw pullers, construction workers, rag pickers, agricultural workers, among others. This massive workforce remains outside the purview of the formal banking and insurance industries.
The AAP, which is the only party to declare its chief ministerial candidate before the polls, is trying hard to make the contest triangular.
Chairing an exclusive roundtable with 42 global CEOs and top executives from across 20 sectors, Modi stressed on continued political stability in India, predictability of policy, and pro-development and pro-growth policies.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
That apart, farmers will get loans for post-harvest storage of their produce at a subsidised interest rate of 7 per cent for six months.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
India, World Bank ink $375 mn deal to help develop country's first waterway
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
Setting up dairy cooperatives modelled on Gujarat's 'Operation Flood' could ease agrarian distress and stop suicides by farmers in the region.
The construction sector is now India's second-largest employer after agriculture, the trend coinciding with India's high-growth phase and decline in poverty levels
Women's share of work in these industries is over 50 per cent, yet they are paid much less than their male counterparts.
'I would want people to have food on their tables and their wages to rise.' 'Will that happen or not is the question that we need to ask and answer.'
The Jat vote is crucial in winning at least 40 assembly seats in Western UP, which has been in the grip of a widespread farmer movement, reports Nitin Kumar.
Prime Minister Narendra Modi on Wednesday called for focus on 'repair and prepare' as the nation emerges out of a devastating pandemic. "Over the past year, we have witnessed a lot of disruption in different sectors. Much of it is still there. Yet, disruption does not have to mean despair," he said at VivaTech Summit. "Instead, we must keep the focus on the twin foundations of repair and prepare," he said referring to the need to augment healthcare infrastructure in the country as well as prop up the economy.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Jaitley's Budget has the potential to change the face of Modi's Bharat
Kavitha Kuruganti has been fighting for decades to ensure farmers are respected and get their due from the Indian nation. In order to ensure they don't struggle for a living, she works to ensure sustainable farm livelihoods and farmers' rights.
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Bihar Chief Minister Nitish Kumar on Wednesday lamented that a section of people start "chanting" 'Jungle Raj' after every incident of crime in the state and said the government has decided to set up a battalion for safeguarding banks and other such establishments.
If more commodities which have seen a sharp rise in MSP are to be procured, such as pulses, oilseed and cereals, there could be a storage problem. Also, if state-owned Cotton Corporation of India joins in, this problem will aggravate.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
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