Entrepreneurs to get support from the government
Mudra Bank being launched on April 8.
MUDRA Bank will have a corpus of Rs 20,000 crore.
Rural populations will get will get employment in the industrial corridors following amendments to the land acquisition bill.
Pulbic banks have no reason to cheer Budget announcement.
The Pradhan Mantri MUDRA Yojana can lend between Rs 50,000-Rs 10 lakh to small entrepreneurs.
Multiple organisations of different kinds with overlapping goals would be a dream situation for those who believe in competition and innovation.
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
The finance minister chaired a meeting through video conference with major private banks and NBFCs to ensure effective rollout of ECLGS and uninterrupted liquidity to Indian MSMEs in this difficult time.
Farmers have suffered a lot on account of natural calamities.
Mudra Bank will be a Rs 20,000-crore institution, which would "primarily be responsible for refinancing all micro-finance institutions.
Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through video conference, and the minister appreciated the efforts of banks in execution of the scheme.
He assured the startups that both the banking system and the government will make the resources available to them
Bringing in the untapped informal sector into the formal one will benefit business.
Reaching out to different sections of society, including farmers, Prime Minister Narendra Modi has said the well-being of 'annadaata' is a priority for the government
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
Alipay payment service is about bringing the world's consumers and businesses together.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
For the first time in our economic history a government has thought about more than 50 per cent of our economic activity instead of the five per cent represented by the Sensex companies, observes IIM-B professor R Vaidyanathan.
If the country is to meet its jobs and income challenge, there has to be a parallel focus on jobs in the formal sector.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
Finance minister Arun Jaitley has few feathers in his cap for taking serious eff
Over lunch, Finance Minister Arun Jaitley breaks down his Budget. Sheela Bhatt/Rediff.com reports.
Prime Minister Modi has said it is their small units that drive the Indian economy.
The NDA govt launched the Mudra scheme to give unsecured loans of up to Rs 10 lakh to small enterprises with the objective to provide self-employment
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
With his strong views on Bharatiya economics, his appointment to the RBI board may well presage interesting times, says Archis Mohan.
Sticky labour laws and a difficult business environment have led to employers shifting their new hiring in favour of contract labour where social security is much lesser, says Mahesh Vyas.
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
NDA government has shunned populism.
In the first part of an exclusive interview with Sheela Bhatt/Rediff.com on the eve of the first year of the Narendra Modi-led NDA government, BJP President Amit Shah talks about the government's achievements and the controversy over the land ordinance.
Indian economy about to take-off
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