The generational shift in India's economic reforms is taking place, with the NDA government working on the third generation of reforms, Minister of State for Finance Jayant Sinha said at the 39th Skoch Summit.Speaking at the concluding ceremony of the two-days conference organised by the Skoch Group that debated the theme 'From Dole to Development', Sinha said catalysing competitive federalism, global competitiveness, infrastructure development and innovation are the four important facets of the third generation reforms the government is intent on advancing.
India should aim at reducing the transaction costs in its Make in India programme because it would not make much sense to create cheaper goods because the labour costs are cheaper, suggested Anthony De Sa, Chief Secretary, government of Madhya Pradesh, while speaking the concluding day of the 39th Skoch Summit here on Saturday.
The government subsidies must be directed at providing "permanent solution" to the country's most pressing problem of poverty by creating productive assets, Union Minister of Minority Affairs Najma Heptulla said at the Skoch Summit here.
Aadhaar provides citizens with an identity, but it should not be confused with entitlements, Secretary of the Department of Electronics and Information Technology (DeitY) Ram Sewak Sharma said at Skoch Summit here.
India needs a new measure to indicate its poverty that reflects the progress, or the lack of it, in the provision of basic necessities like health, education and sanitation for the citizens, Reserve Bank of India Deputy Governor S S Mundra said. Speaking at the first day of the two-day 39th Skoch Summit here, Mundra, who oversees banking supervision, currency management, financial stability and rural credit at the central bank, said such an index will make delivery of the government welfare schemes and services more meaningful and outcome-oriented.
Before attempting to analyse the agricultural component of the Budget, the huge leakage of funds in subsidies supposed to be for the common man but which is diverted to those who do not require them, needs to be stopped.
The Prime Minister Jan Dhan Yojana has been a resounding success when it comes to providing bank accounts to the people who were out of the financial network. Within 100 days of launch of the scheme over 12.5 crore people have been provided a bank account. However, just opening an account does not solve the problem. In its first full budget, Narendra Modi government has decided to make Jan Dhan an integral part of the social security programmes by creating "JAM Trinity".
The government has accepted the recommendations of the 14th Finance Commission that seeks to enhance transfer of money to the states from the central taxes by an unprecedented 10 per cent.
Under the new arrangement 42 per cent money from the 'divisible pool' will be transferred to the states. This is 10 percentage point increase when compared with the previous 32 per cent.