Some UTs to start from April 1 and other transfers to be launched from January.
Kamath projected an average annual growth of 7.5-8 per cent for the country in the next five years for the economy, saying it was only investments in infrastructure and troubles with project implementation that had to be dealt with right now.
We will roll out the scheme from January 1, says P Chidambaram.
After Odisha and Tripura, West Bengal has now opposed the Centre's direct cash transfer to bank accounts of beneficiaries, claiming it would lead to a breakdown of the existing public distribution system and closure of the Food Corporation of India.
Addressing officials of Puducherry government and various banks at a meeting organised by state level Bankers Committee in Puducherry, Chidambaram said 'with the availability of banking technology, the scheme is not a complex arrangement but an easy programme.'
It is generally felt that DCTs are a more efficient system than, say, physical subsidies. This does hold when conditions are ideal and back-end structures are in place.
Government's direct cash transfer scheme is "anti-poor" as it would actually cut subsidies due to the high inflation rate and not cover the rising prices of foodgrains, the Communist Party of India-Marxist on Wednesday said opposing the move.
The direct cash transfer scheme is not a "jaadu ki chhadi" (magic wand) to reform a "broken down" delivery system and problems are there in its implementation, Union Minister Jairam Ramesh said on Sunday.
Land acquisition and corruption will be among a string of issues that will be highlighted by Arvind Kejriwal's Aam Aadmi Party, which on Wednesday described the United Progressive Alliance government's decision to launch a direct cash transfer scheme as a "bribe to voters".
The Prime Minister's Office has asked ministries to take up the implementation of the direct cash transfer scheme on a war footing before the launch of the programme on January 1. It has also asked them to organise camps to fast pace enrolment under Aadhaar for the purpose. The primary activity of all the ministries implementing schemes in the coming weeks will be to complete enrolment of Aadhaar for all beneficiaries.
If women voters are mobilised in big numbers to the voting booths on November 6 and 11 by the Nitish Kumar-led NDA, then it will be quite difficult for the Tejashwi Yadav-led Mahagathbandhan to defeat the incumbent government, points out Sheela Bhatt.
The government will launch the payout of direct cash subsidy to people through the Aadhaar based system in 51 districts of the country from January 1, Finance Minister P Chidambaram said.
The National Committee on Direct Cash Transfers will have 11 cabinet ministers, two ministers of state with independent charge, the Deputy Chairman Planning Commission, the Chairman UIDAI and the Cabinet Secretary as its members.
The government on Monday said that it had not violated any election code of conduct in connection with its ambitious direct cash transfer scheme as it was announced in the budget speech by the then Finance Minister Pranab Mukherjee.
The government plans to expand its central bank digital currency (CBDC)-based food subsidy programme to Chandigarh, Dadra and Nagar Haveli, and Daman and Diu by June, following its implementation on a pilot basis in Gujarat and Puducherry, official sources said.
As the government races to launch its flagship direct cash transfer programme from January 1, the low concentration of Aadhaar card database in the identified 43 districts is a cause of major concern
'Vijay did not defeat Dravidian politics from outside. He entered the Dravidian field and claimed ownership of it. 'His argument was not that the room should be destroyed. It was that the present occupants no longer deserved to remain in it.'
The Congress and the Bharatiya Janata Party on Monday traded barbs over the government's direct cash transfer scheme after the Election Commission sought a reply from the Centre on the timing of the announcement.
Former Andhra Pradesh chief minister and Telugu Desam Party leader N Chandrababu Naidu has welcomed the "cash transfer" initiative of Prime Minister Manmohan Singh, but reminded him that it was his brainchild as the TDP had promised direct cash transfer to beneficiaries in its 2009 election manifesto.
Rajasthan Police dismantled a cyber fraud operation, arresting 17 individuals for allegedly defrauding an accountant of Rs 5.30 crore by impersonating his company's chairman on WhatsApp.
The seeding of LPG database with Aadhar numbers is above 55 per cent and overall Aadhar penetration is 90 per cent in these districts.
Brokerage Bernstein has warned Prime Minister Narendra Modi that India risks squandering recent economic gains unless it accelerates structural reforms, particularly in jobs, manufacturing and innovation.
A new report indicates that increasing unconditional cash transfer schemes for women across 12 Indian states are impacting their fiscal health, with six states projecting revenue deficits.
This includes an infrastructure push which may lead to the government spending more than its budgeted capital expenditure for 2020-21. There are also discussions on increasing the scope and quantum of direct cash transfers to the beneficiaries who need it the most.
Top leaders of the Bharatiya Janata Party on Friday met the Election Commissioner to lodge their protest against the Centre's announcement of the direct cash transfer scheme ahead of Gujarat elections and demanded its withdrawal. Led by party leader L K Advani and Leaders of Opposition Sushma Swaraj and Arun Jaitley, the BJP delegation questioned the timing of the announcement and demanded its withdrawal to ensure free and fair elections in Gujarat.
Expressing unhappiness over the announcement of the much-touted direct cash transfer scheme by the government even when the model code was in force, the Election Commission on Sunday wrote to the Union cabinet secretary seeking a report on the matter.
Voicing concern over the announcement of direct cash transfer scheme after the Model Code of Conduct had been implemented, the Election Commission has directed the government to keep in abeyance its implementation in Gujarat and Himachal Pradesh where the poll process is going on.
As the deadline for direct cash transfer for subsidies in 43 districts nears, the government has started the mapping of gram panchayats to provide banking services in remote parts of the country.
Congress president Sonia Gandhi on Saturday strongly backed the Centre's new Direct Benefit Transfer system that will ensure cash transfer directly in the hands of beneficiaries of various schemes, saying it is in line with many other "revolutionary" measures taken by the UPA.
Govt expects to save Rs 10,000 crore through this move.
The Securities and Exchange Board of India (Sebi) has proposed a new framework for calculating the networth requirement for stock brokers, moving away from the current method linked to client cash balances. The revised approach will factor in both client funds handled and the number of active clients serviced, aiming to strengthen brokers' financial buffers.
In a move to cut down wastage, duplication and leakages and enhance efficiency, the Prime Minister has given a major push to transfer individual benefits from the government directly into the bank accounts of beneficiaries.
Under the TMC, Bengal has seen expansion of welfare, but not big-ticket private investment.
Global brokerage Bernstein has issued a cautionary note, stating that India risks 'under-delivering on its potential' unless it addresses key policy bottlenecks and structural risks, including employment challenges from AI, limited manufacturing gains, and rising welfare spending.
The LDF has filed a complaint with the Election Commission alleging that UDF candidate Reji Cheriyan engaged in cash-for-vote practices during the Kuttanad Assembly election campaign.
The BJP, especially in its current edition under the prime minister, is clear that it seeks total exclusion of India's largest minority against whom it holds historical resentment, points out Aakar Patel.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
Senior BJP leader Smriti Irani has criticised the TMC government in West Bengal, alleging corruption and failure to ensure women's safety. She promised a monthly cash support of Rs 3,000 for every woman if the BJP is voted to power.
'The BJP successfully merged governance with identity. That's a powerful combination in Assam's political context.'
A Delhi court has remanded I-PAC co-founder Vinesh Chandel to the Enforcement Directorate's custody for 10 days in connection with a money laundering case involving alleged diversion of funds worth crores of rupees.
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