Not only has the Mudra loan mela generated no jobs, it has frittered away trillions of taxpayers' money and it's time to bury the scheme, argues Debashis Basu.
None of the political parties in UP has any effective plans to create jobs.
In the second of a six-part series, Sanjay Jog of Business Standard walks across the streets of Indore to find out how it has been hit by demonetisation.
Or, what will the Indian policy process allow it to be, says Ajit Balakrishnan.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
'It seems a wiser decision to pull out at the right moment than regret after joining the pact,' explains Dr Rahul Mishra.
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
UP is an important state to roll out the government's agrarian reforms and job growth policies.
In the fifth of a six-part series, Business Standard visits Coimbatore, often referred to as the Manchester of South India for its promising textile industry, to assess the impact of the note ban.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
These smart cities should have the capacity to absorb, adapt and provide opportunities for both the poor rural migrants as well as the educated professionals, say Sujit K Pruseth & Sachi Satapathy.
'I have tried to make it easier for the small scale entrepreneur to do business and cut through the red tape.'
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.
Sanjeev Nayyar offers a roster of things to do to see the India of our dreams.
'There was no need for opting for such an elaborately and expensively organised spectacle,' says B S Raghavan, the distinguished civil servant.
'Igniting in this country, a false feeding of nationalism combined with religion.' 'They are promoting the religion of the majority people in the country to feed their political agenda.'
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
The BJP's manifesto for UP elections promised many things. But, given the state's precarious financial position, fulfilling these promises is likely to prove tricky, says Ishan Bakshi.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Ahead of the assembly elections next year, the BJP has been wallowing in a welter of ideas that has resurrected the debate on populism versus pragmatism, as it has to pander to two important but incompatible constituencies, of the freebie consuming masses and Bengaluru's heavy hitters craving for even roads, pristine lakes and unbroken power supply, reports Radhika Ramaseshan.
'The UPA's claim of growth at 9.5 percent was absolute nonsense and a fraudulent claim because the country did not grow; it was only statistical growth.' 'I do believe that when there is a determined leader who wants to bring a desired change, the system will begin acting. Today, people think there is policy paralysis, but there is functional paralysis also.' 'When things start moving, people will invest. Many companies are holding cash, many people are not investing. Nobody is making any move. Everybody is waiting for the elections to get over.' Economist and Swadeshi Jagran Manch convenor Swaminathan Gurumurthy in conversation with Shobha Warrier/Rediff.com
Fiscal discipline has been maintained but toxic assets worth Rs 7 crore are a massive headache
While some CMs suggested reopening economic activity in phases, others pitched for the extension of the coronavirus lockdown, but with a carefully crafted exit strategy
New listing on the BSE will create more jobs, say experts.
'Under-employment continues to be a very big problem.' 'What we see today is many youth who would have accepted any kind of job are not willing to accept any job.' 'They are ready to wait for a better job, one that justifies their educational qualification. 'This is one of the reasons why unemployment has risen.'
'Let us not say that Modi has not delivered on anything; he has delivered something and in parts substantially, but he has to also deliver on a large number of his electoral promises.'
India Inc has few leaders who are likely to grab headlines in 2015.
'Modi is likely to make more announcements to win or retain popularity, and put himself at the centre of things even more than now,' says T N Ninan.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
For distressed farmers in Mandya district of Karnataka, Madhuchandan is a true saviour.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances