financetom
Economy
financetom
/
Economy
/
Farmers receive first installment of PM Kisan Scheme: Here's what experts have to say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Farmers receive first installment of PM Kisan Scheme: Here's what experts have to say
Mar 9, 2019 7:15 AM

A controversy has erupted after FM Arun Jaitley tweeted that Karnataka has sent only 60,000 names to the centre so far, for the PM Kisan scheme. Karnataka government has disputed that statement and has said that it has already updated 3 lakh names on the national portal. CNBC-TV18 spoke to Siraj Hussain, former agri secretary to discuss the PM Kisan scheme.

Hussain said, "I think coverage of 2.3 crore farmers in such a short period of time is a great achievement for the government and it will surely be used during the election campaign, especially in major states of UP, Maharashtra, Madhya Pradesh etc. Also I find that my ex-colleagues in the UP cadre of IAS have done a very good job because in a very short period of time they have been able to collate the records of land holding with the bank accounts and other details of various beneficiaries, even the Aadhaar number has been linked even though government of India did not make it mandatory. So, all this work has been done by the revenue department of UP government in collaboration with agriculture department in a very short period of time. Some 75 lakh farmers in UP have received the money according to a report in Business Line, you have said 80 lakh farmers. So, well done UP and I only hope that other states will also do it fast enough."

He further added, "It is very clear that several states do not want to share this data with the central government because they may be thinking that the credit for this will then go to the central government and they are right in assuming that. I wrote an article in Mint last week in which I said very clearly that in this scheme there is no share of the state government. This very government in 2015-16 had changed the funding pattern of a large number of schemes when the allocation on the recommendation of the 14th Finance Commission was increased from 32 percent to 42 percent. In PM Kisan for political reasons, if I may say so, it was decided that the states will not have any share. So, it is very clear that the states see that if the money is actually transferred then all the credit will be taken by the central government. So, that is perhaps explaining the reluctance of several states in sharing the data with the central government. I am sure they have the data but they do not want to share it."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BofA CEO welcomes Trump's economic policies as 'good thing' for business
BofA CEO welcomes Trump's economic policies as 'good thing' for business
Jan 21, 2025
DAVOS, Switzerland (Reuters) - Bank of America Chief Executive Brian Moynihan on Tuesday welcomed economic policies announced by U.S. President Donald Trump since his inauguration as a good thing for business. They want to see the U.S. economy grow and prosper, Moynihan said in an interview with Reuters on Tuesday, referring to the new administration. Corporate executives and policy makers...
January Philadelphia Fed Regional Nonmanufacturing Activity Index Falls, Indicates Faster Contraction
January Philadelphia Fed Regional Nonmanufacturing Activity Index Falls, Indicates Faster Contraction
Jan 21, 2025
08:40 AM EST, 01/21/2025 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to minus 9.1 in January from minus 3.4 in the previous month. The index suggests further contraction in the sector, which is in line with the New York Federal Reserve's services measure released on Jan 16. The readings for sales, prices and employment...
Bessent nomination to US Treasury clears Senate Finance Committee
Bessent nomination to US Treasury clears Senate Finance Committee
Jan 21, 2025
(Reuters) - The U.S. Senate Finance Committee on Tuesday voted to send the nomination of billionaire hedge fund manager Scott Bessent as President Donald Trump's Treasury secretary on to the full Senate for approval. The committee voted 16-11 to send the nomination on to a final confirmation vote in the Senate. All Republicans voted in favor of the nomination, but...
US Dollar Improves Early Tuesday After Monday Holiday, Before Light Data Week
US Dollar Improves Early Tuesday After Monday Holiday, Before Light Data Week
Jan 21, 2025
07:46 AM EST, 01/21/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Tuesday after declining during most of the Monday Martin Luther King Jr. holiday as foreign exchange markets braced for talk of tariffs during President Donald Trump's many appearances throughout the day that took a backseat to other issues. The Philadelphia Federal Reserve is...
Copyright 2023-2026 - www.financetom.com All Rights Reserved