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PM Modi highlights PMJDY MUDRA Start-up India

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PM Modi highlights PMJDY MUDRA Start-up India at G-20 opening session

BUENOS AIRES: 

Prime Minister Narendra Modi yesterday highlighted the flagship programmes like the Pradhan Mantri Jan Dhan Yojna, MUDRA and Start-up India undertaken by his government to modernise the economy and promote inclusive growth at the opening session of the G-20 summit in Buenos Aires.

G-20 is a grouping of the world’s 20 major economies.

Argentine President Mauricio Macri convened the two-day summit, which was attended by several world leaders including US President Donald Trump, Russian President Vladimir Putin, British premier Theresa May and Japanese Prime Minister Shinzo Abe.

This year, the theme of the summit is ‘Building Consensus for Fair and Sustainable Development’.

“PM Narendra Modi made an intervention at the 1st session of G20 Argentina on Global Economy, Future of Work and Women’s Empowerment. Highlighted flagship programs undertaken to modernise economy & promote inclusive growth JanDhanYojana MUDRA StartupIndia,” External Affairs Ministry Spokesperson Raveesh Kumar said on micro-blogging site Twitter.

The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial inclusion programme that aims at expanding and making affordable access to financial services to the last man in the row.

Since its launch on August 15, 2014 till June 27, 2018, over 31 crore bank accounts were opened and over Rs. 7,92,00 crore were deposited under the scheme.

MUDRA, which stands for Micro Units Development and Refinance Agency, is a financial institution set up in 2016 for development and refinancing micro units enterprises.

It provides funding to the non-corporate small business sector through various last mile financial institutions like banks, non banking financial companies (NBFCs) and Micro Finance Institutions (MFIs).

 

netaji is a well known tech writer in the field of artificial intelligence, he wrote several articles on the advanced AI methods on international news magazines

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India Checking Report Of IL&FS Employees

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India Checking Report Of IL&FS Employees Being Held Hostage In Ethiopia

  • Seven Indian employees of IL&FS have been held hostage by Ethiopian staff because of non-payment of salaries, according to tweets by those saying they were being held

The Ministry of External Affairs has sought a detailed report from its unit dealing with Ethiopia on the complaint of IL&FS’ Indian employees being held hostage by the local staff since November 24 in the East African country.

A spokesperson for MEA told BusinessLine that action will be taken after getting inputs from the division concerned.

At least seven IL&FS employees are being held hostage in Ethiopia due to non-payment of salaries to the local staff.

A source close to IL&FS said that the new management is not allowing the remittance of money.

IL&FS declined to comment on this.

The seven employees who work for ITNL-Elsamex Jv Bure (a joint venture between IL&FS Transportation Networks Ltd and Elsamex S.A.) have been held hostage since November 24.

They took to Twitter to share their grievances after an email sent by them to the Indian Embassy, the Spanish embassy, the Ethiopian Roads Authority and IL&FS failed to prompt any action.

As per the mail one of the stranded employees shared with BusinessLine, the joint venture company has failed to pay the local employees salaries for October and statutory dues (income tax, pensions and withholding tax) for the last eight months.

It stated that as per Ethiopian laws, the person in charge of a project will be held accountable in case of default.

And if he flees, then the people below him are answerable

NEW DELHI: 

India has asked Ethiopian authorities to investigate a report that employees of an Indian company, Infrastructure Leasing and Financial Services (IL&FS), have been taken hostage by staff in Ethiopia, a government source said on Saturday.

Seven Indian employees of the debt-laden IL&FS company have been held hostage by Ethiopian staff because of non-payment of salaries, according to messages posted on Twitter by those saying they were being held.

An foreign ministry official said India was discussing the matter “on priority” with Ethiopian authorities and the management of IL&FS.

“We are doing our best to ensure a settlement of this matter,” said the official, who declined to be identified.

An IL&FS spokesman in India declined to comment.

The government took control of IL&FS last month after it defaulted on some of its debt, triggering wider concerns about risk in the country’s financial system.

The infrastructure financing and development company had over the years developed road, township and water-treatment projects in India and abroad.

Neeraj Raghuwanshi, who said he was one of the seven employees held hostage, has been calling for help on Twitter since November 27.

“Situations are beyond our control, please #help before mishappening,” Mr Raghuwanshi said late on Friday in a tweet, calling Prime Minister Narendra Modi and Foreign Minister Sushma Swaraj to intervene

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April-October Fiscal Deficit Full Year Target

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April-October Fiscal Deficit At 6.49 Lakh Crores Crosses Full Year Target

India’s full-year fiscal deficit target of Rs 6.24 trillion was breached October-end due to lower revenue collections, showed government data on Friday.

The fiscal deficit—the gap between expenditure and revenue—was Rs 6.48 trillion or 103.9 per cent of Budget Estimate (BE) during April-October of the current financial year. At end of October 2017-18, the deficit was 96.1 per cent of the BE. The government has budgeted to cut fiscal deficit to 3.3 per cent of GDP in 2018-19 from 3.53 per cent in the previous financial year.

According to the data released by the Controller General of Accounts (CGA), the revenue receipts of the government totalled Rs 7.88 lakh crore or 45.7 per cent of the BE for 2018-19 as compared to 48.1 per cent of BE last year. The government has budgeted to mop up Rs 17.25 lakh crore revenue during the current fiscal.

Tax revenue was 44.7 per cent of BE compared to 51.6 per cent achieved in the comparable period of the last year. As per the CGA data, the total expenditure of the government at October-end was Rs 14.56 lakh crore or 59.6 per cent of the BE. The expenditure in terms of percentage of the BE was marginally higher in the year-ago period.

“Fiscal deficit figure shown in monthly accounts during a financial year is not necessarily an indicator of fiscal deficit for the year as it gets impacted by temporal mismatch between flow of not-debt receipts and expenditure up to that month on account of various transitional factors both on receipt and expenditure side, which may get substantially offset by the end of the financial year,” CGA said.

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Why many users want to delete WhatsApp

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WhatsApp could soon lose many users because of its decision to introduce this update

WhatsApp is the most popular chat app that billions of people use every day. It’s not only serving as a medium for daily conversations but also a messenger that most Indians spring onto to send ‘Good Morning’ greetings. With so much popularity and free model, WhatsApp is ubiquitous on all the major platforms – Android, iOS, Windows Phone, and PC. But as they say, nothing comes for free, the Facebook-owned company has confirmed that it will begin to serve advertisements within the app.

While it was just a speculation earlier, WhatsApp vice president Chris Daniels, in a briefing in India earlier this year, confirmed that the advertisements will be put into the Status feature. The WhatsApp Status is soon going to feature ads, much like how Instagram treats the advertisements. This has indirectly raised an inevitable question among the users whether they are ready to be annoyed by pesky advertisements on WhatsApp. Well, 40 per cent users said that they will stop using WhatsApp after advertisements make its way to the app’s Status feature.

In a poll conducted by WABetaInfo, which watchdogs the latest news on WhatsApp, on Twitter, around 60 per cent users agreed to continue using WhatsApp as they would not find the advertisements ‘invasive’. However, 40 per cent users voted against the introduction of advertisements on the platform and that they might delete the chat app. It should be noted that the total number of votes registered after the poll ended were 1,672, which may seem like a minuscule figure when compared with the huge user base WhatsApp enjoys. However, this also tells that many people are not in favour of the Facebook-owned company’s decision to pry into user’s chat data to serve ads – although it is not clear whether WhatsApp will infiltrate end-to-end encryption to scan chats and serve personalised ads.

The first time WhatsApp was learnt to put advertisements into its app was when two company officials confirmed the same to The Wall Street Journal. Later, a TechCrunch report quoted another WhatsApp key person confirming the same. The development was finally stamped with the confirmation coming directly from the horse’s mouth. WhatsApp VP Chris Daniels confirmed the Status will soon start featuring advertisements.

“We are going to be putting ads in ‘Status’. That is going to be primary monetisation mode for the company as well as an opportunity for businesses to reach people on WhatsApp,” Daniels told media at a briefing in New Delhi.

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