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 >
US Dollar Rallies After ISM Services PMI Recovers to Expansionary Level
US Dollar Rallies After ISM Services PMI Recovers to Expansionary Level
Jun 5, 2024
10:22 AM EDT, 06/05/2024 (MT Newswires) -- The US dollar rallied against all major currencies in North American trade on Wednesday after a sharp recovery lifted the Institute for Supply Management Services PMI back to an expansionary level. EUR/USD and GBP/USD fell from intraday highs around 1.0888 and 1.2795 respectively, while USD/JPY and USD/CAD rose to new intraday highs around...
New Zealand Dollar Shows Stability Amid US Economic Concerns
New Zealand Dollar Shows Stability Amid US Economic Concerns
Jun 5, 2024
By RoboForex Analytical Department The NZD/USD pair is stable, consolidating around 0.6189 on Wednesday. The New Zealand dollar maintains a sideways trend and appears relatively robust in the current market environment. Recent pressure on the US dollar, triggered by disappointing employment statistics, has led to speculation that the US Federal Reserve might reduce interest rates after the September meeting. The...
Yellen to warn of 'significant risks' from use of AI in finance
Yellen to warn of 'significant risks' from use of AI in finance
Jun 5, 2024
WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen will warn that the use of artificial intelligence in finance could lower transaction costs, but carries significant risks, according to excerpts from a speech to be delivered on Thursday. In the remarks to a Financial Stability Oversight Council and Brookings Institution AI conference, Yellen says AI-related risks have moved towards the top...
Walmart to pay US hourly store workers bonuses for first time ever
Walmart to pay US hourly store workers bonuses for first time ever
Jun 5, 2024
(Reuters) - Walmart ( WMT ) will, for the first time ever, pay bonuses to its U.S. hourly store workers, including those at its pharmacy and Vision Center stores, the retailer said on Wednesday, in a move that could boost wages for 700,000 front-line staff. Both part-time and full-time associates will be eligible for the annual bonus program, the idea...
Copyright 2023-2026 - www.financetom.com All Rights Reserved