RURAL EMPLOYMENT SCHEME
Union budget to focus on welfare spends, incentivise deposit inflows: Care Ratings
The upcoming Union budget is poised to prioritize bolstering consumption through increased allocations for welfare schemes and rural economy initiatives, according to Care Ratings. Anticipated measures include a significant rise of Rs 75,000 crore in revenue expenditure compared to previous interim budgets. Key sectors expected to receive enhanced funding include employment guarantee programs, housing initiatives like PM Awas Yojana, rural infrastructure under PM Gram Sadak Yojana, and support schemes for labor-intensive small businesses.
India Playbook 2024 – Final Budget 2025 to focus on affordable housing
One big change in the final budget could be an increase in rural expenditure including higher spends on affordable housing. RBI’s extraordinary dividend of Rs 2.1 lakh crore and impressive tax collections give the government the power to increase expenditure and still stick to its prudent policy of lowering the fiscal deficit.
Focus on public capex going to be paramount in coming years: Aurodeep Nandi
Now, looking forward, yes, food inflation is going to be an upside risk, but on the positive side we have El Nino turning to La Nina, which essentially means that we should be getting good rainfall this year, which should stem some of those risks.
Budget 2024: What does the stock market expect from the coalition government Budget?
India's real consumption is expected to reach Rs 70 trillion by 2025, driven by demographics and rising incomes. By 2030, consumer spending may hit $4 trillion. Agriculture sees 6% growth, with budget support. Manufacturing and infrastructure expand through policies. The 2024 budget, at Rs 47.66 trillion, allocates 3.3% of GDP to infrastructure, smart cities, highways, and logistics parks.
Pumps, pipes, credit, mass housing and employment generation could be the focus areas in Budget: Yogesh Patil
Manufacturing focus from government actually will create higher jobs and improve the per capita income. So, mass consumption category, which has not done well in last two years, is expected to do well in coming years.
GoI must focus on equitable growth and quality employment
The recent Annual Survey on Unincorporated Sector Enterprises (ASUSE) is a valuable source on informal enterprises provided by GoI that promises to tell us about these voters whose dreams lie unfulfilled. They have struggled in the world’s largest informal economy, India, in jobs without social protections and with lower pay.
RSS-affiliate union seeks extension of mandatory work under MGNREGA to 200 days in pre-Budget meet
BUDGET EXPECTATION: In its pre-budget meeting with the finance minister Nirmala Sitharaman on Monday, BMS general secretary Ravindra Himte demanded increasing the minimum pension under the Employees’ Pension Scheme (EPS), 1995 from Rs 1,000 to Rs 5,000 while enhancing of honorarium of scheme workers, especially for Asha, Aanganwadi, Mid-day Meal and National Health Mission workers, the central trade union said in a statement issued on Tuesday.
Budget wishlist from agriculture & MSMEs stakeholders: Sops, infra push, easy loans and PLI schemes
Stakeholders from the agricultural sector and MSMEs provided key suggestions to Finance Minister Nirmala Sitharaman during pre-budget consultations. Suggestions included rationalizing fertilizer subsidies, boosting agricultural infrastructure investment, and implementing employee-centric production-linked incentive schemes.
Abneesh Roy's top four stock picks for strong returns over next year
It is a coalition government and in the past we have seen that whenever that happens spends on the rural do increase. Please note that in the coming months, there are three-four key state elections also. So, we do expect that farm subsidy, farm support programmes will see a higher outlay rather than just a pure play capex, infra spends.
Demand under rural jobs scheme eases again in May
Demand for work under India's rural job guarantee scheme, MGNREGS, dropped for a seventh consecutive month in May, signaling improved economic conditions at the start of the fiscal year. About 37.46 million individuals sought work, down 12.1% from the previous year, with 27.18 million households seeking work, a 14.3% drop. The trend is attributed to better-paying job opportunities and the impact of heat waves across the country, although the data is subject to revision.
New govt likely to vote for populism in budget
With the Lok Sabha election results hinting at a coalition government, economists anticipate a populist Budget focusing on welfare schemes for the upcoming fiscal year.
Indian economy is on a firm footing: RBI annual report
The Reserve Bank of India's annual report highlights the Indian economy's firm footing, driven by improved external sector sustainability and robust corporate balance sheets. It projects 7% GDP growth for 2024-25, supported by strong macroeconomic fundamentals, production-linked incentive schemes, and an expected above-normal monsoon, despite global uncertainties and challenges.
Haryana Lok Sabha Elections 2024: Spotlight on Agnipath as youth seek job stability
Haryana's political landscape is witnessing significant upheaval as the Agniveer scheme, under which soldiers are engaged for four years without a pension, becomes a focal point of discontent among rural youth. Political parties are pledging to revert to the old recruitment system, highlighting the scheme's impact on job security and aspirations, with many youngsters now favoring police or overseas jobs over military service.
Purulia Lok Sabha Polls: Trinamool draws strength from grip on Panchayats, BJP from assembly wins
Residents in Purulia, like Raju Mudi, lack essential infrastructure promised by PM Awas Yojna. The constituency is a key battleground with issues like MGNREGS implementation affecting voters.
Lok Sabha election: Tribals fear they may lose quota, agricultural land
The problems were widespread in Tribal belts. Rural areas had not been adequately reached by the Center's initiatives, people were becoming increasingly disillusioned with political leaders, there was a mounting concern about private entities taking over agricultural land without sufficient social or economic protections, and job opportunities were scarce.
Lok Sabha polls: Bhabhi and didi battle it out in Chhattisgarh's 'parched' Korba
This election, Korba, one of the 11 parliamentary seats in Chhattisgarh, has become the hot seat presenting a Bhabhi vs Didi fight. It was one of the only two seats in the state which had bucked the Modi wave in 2019 and had been won by Congress.
Work demand under rural jobs scheme dips in April
The International Monetary Fund (IMF) last month raised India's FY25 growth forecast by 30 basis points to 6.8%. Although the pace of expansion could moderate from an estimated 7.8% in FY24, India will continue to remain the world's fastest-growing economy this fiscal, the multilateral body said.
Mystery of MGNREGA demand asymmetry
MGNREGA data shows Tamil Nadu's success in fund allocation and female participation, unlike Bihar. The 'north-south' disparity highlights the need for better implementation and addressing challenges in laggard states.
MGNREGS: Tamil Nadu, Bihar — two strange stories from book of job
Tamil Nadu and Bihar are a study in contrast, admit senior government officials and experts. Over the past five years, Tamil Nadu accounted for 10-15.3% of the country's annual work demand submitted by individuals, under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), while Bihar made up just 4-5.7%, according to the rural development ministry data.
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