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banking services chronicle subscription Published this articles page no 176 One Nation One Ration Card is a technology-driven reform which enables beneficiaries of NFSA and other welfare schemes to get their entitled monthly quota of food grains from any e-PoS-enabled FPS of their choice anywhere in the country. The reform especially empowers the migratory population like laborers daily wagers urban poor like ragpicker street dwellers temporary workers in organized and unorganized sectors domestic workers etc. who frequently change their dwelling place to be self-reliant in food security. The reform also enables the States in better targeting of beneficiaries elimination of bogus/duplicate/ineligible card holders resulting in enhanced welfare and reduced leakage. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 175 after detailed deliberations four areas were identified for undertaking the much-needed reforms implementation of One Nation One Ration Card system reforms to promote ease of doing business local bodies and public utilities reforms and reforms in the power sector. The Department of Food and Public Distribution (DFPD) Department for Promotion of Industry and Internal Trade (DPIIT) Ministry of Housing and Urban Affairs (MoHUA) and Ministry of Power (MoP) were respectively designated to certify completion of stipulated banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 173 although the socio-economic situation had justified the raising of additional debt of two per cent by the States hedging for future debt sustainability was equally important. Therefore to alleviate the ill-effects of the current additional borrowings half of the additional borrowing permissions were used as an instrument to nudge the States to push reforms in various citizen-centric areas. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 172 Borrowing by States in India is guided by provisions of Article 293 of the Constitution. States are permitted to borrow within the territory of India against the security of the Consolidated Fund of the State subject to the limit fixed by the Legislature of the State. However according to Article 293(3) if a State is yet to repay any central loan extended to the State by the Government of India or by its predecessor Government it has to obtain consent of the Government of India before raising any such loan. Based on the recommendations of the Finance Commission the central government had fixed the net borrowing ceiling of States for the year 2020-21 at three per cent of GSDP. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 171 It s well-known that the pandemic had indeed dealt a severe blow to the revenue collection of the governments hampering their ability to respond to the challenges thrown up by it. To successfully overcome the formidable economic challenges the Prime Minister had announced a series of economic stimulus packages and gave the clarion call of sustaining `Aatmanirbhar Bharat (a self-reliant India).An important component of the `Aatmanirbhar Bharat Abhiyaan packages was an increase in the pet borrowing limit of States for 2020¬21 by two per cent of GSDP. The step made available additional financial resources to the tune of Rs. 427302 crore to the States easing their highly stressed fiscal situation and giving them more headroom to meet their spending needs. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 170 Almost a year down the line the global community including the World Health Organization is hailing Indias remarkable perceptiveness and alacrity in tackling the pandemic. A holistic approach and decisive actions of our leadership has helped save precious human lives and mitigated the plight of Indians.Not only did India tackle the pandemic well she has also extended medical and other assistance to more than 150 countries. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 169 Grant of reform-linked additional borrowing limits to States was first announced in May 2020 with the twin objective of pushing reforms and providing States the much-needed financial resources to fight the Covid-19 pandemic.The financial year 2020-21 will be known in the history as the year of the Covid-19 pandemic that unfolded into an unprecedented nationwide lockdown in the country. The restrictions were aimed at containing the spread of the virus and alleviate pressure on the health systems. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 168 After detailed deliberations four areas were identified for undertaking the much-needed reforms implement tation of One Nation One Ration Card system reforms to promote ease of doing business local bodies and public utilities reforms and reforms in the power sector. The Department of Food and Public Distribution (DFPD) Department for Promotion of Industry and Internal Trade (DPHT) Ministry of Housing and Urban Affairs (MoHUA) and Ministry of Power (MoP) were respectively designated to certify completion of stipulated reforms and recommend grant of permission for additional borrowings. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 167 although the socio-economic situation had justified the raising of additional debt of two per cent by the States hedging for future debt sustainability was equally important. Therefore to alleviate the ill-effects of the current additional borrowings half of the additional borrowing permissions were used as an instrument to nudge the States to push reforms in various citizen-centric areas. banking services chronicle subscription
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banking services chronicle subscription
banking services chronicle subscription Published this articles page no 166 Borrowing by States in India is guided by provisions of Article 293 of the Constitution. States are permitted to borrow within the territory of India against the security of the Consolidated Fund of the State subject to the limit fixed by the Legislature of the State. However according to Article 293(3) if a State is yet to repay any central loan extended to the State by the Government of India or by its predecessor Government it has to obtain consent of the Government of India before raising any such loan. Based on the recommendations of the Finance Commission the central government had fixed the net borrowing ceiling of States for the year 2020-21 at three per cent of GSDP. banking services chronicle subscription
banking services chronicle subscription
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banking services chronicle subscription
banking services chronicle subscriptionPublished this articles page no 165 An important component of the `Aatmanirbhar Bharat Abhiyaan packages was an increase in the net borrowing limit of States for 2020¬21 by two per cent of GSDP. The step made available additional financial resources to the tune of Rs. 427302 crorc to the States easing their highly stressed fiscal situation and giving them more headroom to meet their spending needs. banking services chronicle subscription
banking services chronicle subscription
0 notes
Text
banking services chronicle subscription
banking services chronicle subscriptionPublished this articles page no 164 Not only did India tackle the pandemic well she has also extended medical and other assistance to more than 150 countries.Its well-known that the pandemic had indeed dealt a severe blow to the revenue collection of the governments hampering their ability to respond to the challenges thrown up by it. To successfully overcome the formidable economic challenges the Prime Minister had announced a series of economic stimulus packages and gave the clarion call of sustaining `Aatmanirbhar Bharat (a self-reliant India). banking services chronicle subscription
banking services chronicle subscription
0 notes
Text
banking services chronicle subscription
banking services chronicle subscription Published this articles page no 163 Almost a year down the line the global community including the World Health Organization is hailing Indias remarkable perceptiveness and alacrity in tackling the pandemic. A holistic approach and decisive actions of our leadership has helped save precious human lives and mitigated the plight of Indians. banking services chronicle subscription
banking services chronicle subscription
0 notes
Text
banking services chronicle subscription
banking services chronicle subscription Published this articles page no 162 The financial year 2020-21 will be known in the history as the year of the Covid-19 pandemic that unfolded into an unprecedented nationwide lockdown in the country. The restrictions were aimed at containing the spread of the virus and alleviate pressure on the health systems. banking services chronicle subscription
banking services chronicle subscription
0 notes
Text
banking services chronicle subscription
banking services chronicle subscription Published this articles page no 161 Grant of reform-linked additional borrowing limits to States was first announced in May 2020 with the twin objective of pushing reforms and providing States the much-needed financial resources to fight the Covid-19 pandemic. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 160 The Budget has envisioned a progressive quantum leap forward to propel Indias growth trajectory and V-shaped recovery through asset monetization disinvestment spending in public health and public infrastructure thereby creating jobs and necessary demand. It is transparent and realistic in its approach and clearheaded on the path the potentials and the projections. I am sure that the Budget proposals will deliver progressively on the promise of Aatmanirbhar Bharat besides creating an environment of competition innovation and delivery of economic growth towards benefits of all especially for the poor and marginalised sections of the society. banking services chronicle subscription
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banking services chronicle subscription Published this articles page no 159 The Government is also mindful of the need to increase the number of doing business in India and spurring investment. With this objective relaxation has been provided to the criteria for claiming exemption by the Sovereign Wealth Funds Pension Funds etc. The relaxation includes prohibitiorD on loans or borrowings restriction on commercial activities direct investment in entity owning infrastructure etc. so that more and more investment can come in. At the same time relaxation has also been given to expand the business activities in the Gujarat International Finance Tec (GIFT) City Ahmedabad. banking services chronicle subscription
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