It could become a giant leap towards lasting reform if the experiment in direct benefit transfers for cooking gas subsidies pans out.
With farm Acts out of the picture, the government may look at reforming the input side of the agriculture sector - regulations and rules that govern seeds, fertilisers and plant chemicals. Sources said such a blueprint, which is aimed at making the life of farmers easier, with quicker approvals but not compromising on quality, is in the works as part of the 100-day agenda of Modi 3.0. Also, ways to administer fertiliser subsidy more effectively and cutting down on leakages and diversions to build on the success of neem-coated urea are being thought of.
Prime Minister Narendra Modi on Saturday gave a vote of confidence to the Unique Identification Authority of India (UIDAI), which is generating Aadhaar numbers for India's 1.2-billion strong population.
Despite the growing clamour from the central government on India turning digital, and banks requesting direct bank account transfer, the state government decided to hand over cheques to the farmers, which can be immediately converted into cash.
System to be introduced in first quarter of 2013.
India's cities must switch over to piped gas leaving LPG cylinders.
Diversified business house Trident Group would become the first corporate to use Aadhaar Payment Bridge (APB) for disbursal of salaries to its employees.
Karnataka Chief Minister Siddaramaiah on Monday launched payment of cash in lieu of the additional 5 kg of rice to beneficiaries under the government's 'Anna Bhagya' scheme.
The SMS-based application extends DBT's payment architecture to individuals, where their Aadhaar number will be linked to their bank accounts at the back-end.
The government is also thinking of introducing direct benefit transfer for women
Taxability of LPG subsidy and other direct benefits paid directly into bank accounts of beneficiaries is unclear.
In January, the Employees' Provident Fund Organisation had asked the field staff to ensure the collection of data in respect of member joining on or after March 1, on a monthly basis and in respect of existing members by June 30, 2013.
Delhi-based electric vehicle (EV) ride-hailing firm Evera Cabs, which grabbed headlines after acquiring 500 cars from the now-defunct cab service BluSmart, is stepping up its presence in the EV cab segment. The company is aiming for revenue of Rs 100 crore in the ongoing financial year (2025-26), up from Rs 18 crore in 2024-25.
Additionally, $5 billion worth of direct benefit transfers is estimated to occur in the next 12-14 months, said the Axis Capital report co-authored by Sachchidanand Shukla and Shiv Nanda.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The scheme was to be rolled out in 20 districts initially but the launch in Mysore in Karnataka and Mandi in Himachal Pradesh has been put off by a month due to assembly and Parliamentary bypolls, official sources said.
This will be the third plenary of the decade-old party, and the first since it came to power in Andhra Pradesh three years ago.
Both the Congress and the UPA government are racing against time to try and revamp their image with the people. The new direct benefit transfer schemes, the proposed food security bill, the land acquisition bill and perhaps the women's reservation bill are among the vehicles that the Congress intends to use to reach out to the people, says Saroj Nagi.
"The PMJDY has been the foundation stone for the Modi government's people-centric economic initiatives. "Whether it is direct benefit transfers, Covid-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed," Nirmala Sitharaman said on the sixth anniversary of the scheme.
Justices Arif S Doctor and Somasekhar Sundaresan held there was nothing in the MCC that would interfere with the Board's ongoing activities.
Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with "mission-mode" reforms being undertaken by his government. Speaking at the BRICS Business Forum Leaders' Dialogue in Johannesburg, Modi also said India soon will become a $5 trillion economy.
Setting aside the order of the assistant commissioner of police, the judge directed the officer to grant the permission and provide necessary police protection, besides imposing reasonable conditions.
Modi underlined his commitment to taking strict action against the corrupt amid criticism by opposition parties that probe agencies were used by his government to target their leaders.
The Lilavati Kirtilal Mehta Medical Trust (LKMMT), which runs Mumbai's Lilavati Hospital, has accused its former trustees and related individuals of misappropriating over Rs 1,500 crore. The trust has filed complaints with the Enforcement Directorate (ED) and the Bandra Police Station, alleging that the misappropriation, uncovered during a forensic audit, has impacted the trust's operations and healthcare services. The trust has also claimed that black magic was performed in the hospital premises by former trustees and related individuals. The Bandra Magistrate Court has ordered an inquiry against these individuals. The current trustees have identified large-scale irregularities in the hospital management body's affairs and appointed forensic auditors who found that over Rs 1,500 crore has been siphoned and misappropriated by the former trustees. The Mumbai police's Economic Offences Wing (EOW) has initiated a probe into an alleged cheating case of Rs 85 crore registered against three former trustees of the hospital.
"I am telling you that one crore people are drinking ( alcohol) in the state. All of you people vote for BJP, we will offer you cheap liquor at Rs 75. If the revenues are good we will even supply at just Rs 50, (not bad liquor), definitely a good one," Veerraju said indirectly pointing to high prices of liquor in the state.
80% of beneficiaries in 300 districts to be linked with direct benefits transfer
The Aadhaar-enabled payment system, or AEPS, allows consumers who don't have smartphones or debit cards to perform basic banking transactions like cash deposit, cash withdrawal, intrabank or interbank fund transfer, balance enquiry and obtaining a mini statement through biometric authentication at micro-ATMs.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
Prime Minister Narendra Modi on Monday said that Chief Minister Ashok Gehlot has already 'accepted defeat' by requesting him not to stop schemes initiated by the Congress in Rajasthan, and gave a guarantee that the Bharatiya Janata Party will not stop any scheme but only try to improve it.
JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
At the rally in Shimla's Ridge Maidan to mark the eighth anniversary of becoming prime minister, Modi said, "Now our borders are more secure than they were before 2014."
'It is a fiercely fought battle, like our fiery chillies in Guntur.'
The new system will entail a periodic revision in the price of subsidised LPG cylinders so that the subsidy remains fixed.
The government is giving adequate publicity to the benefit to be extended to account holders, sources added.
UID project was launched by the UPA government in 2009.
Union Minister Nirmala Sitharaman on Thursday said speaking Hindi gives her 'shivers' and she speaks the language with hesitation.
