Cash

Will Unique Identification start to deliver?

The PMO has announced that the government will start UID-based cash transfers in 51 districts from January 1, 2013, and it will be expanded to 18 states from April 1, 2013. However, given the practical problems involved, as well as the time required to put in place the requisite infrastructure, I expect it will take time before significant benefits are being delivered in the coming year. Here's why. ...  

'Cash transfer scheme is not a magic wand, problems exist'

The direct cash transfer scheme is not a "jaadu ki chhadi" (magic wand) to reform a "broken down" delivery system and problems are there in its implementation, Union Minister Jairam Ramesh said on Sunday. ...  

Direct cash transfer scheme a sham, says Mayawati

BSP chief Mayawati on Wednesday lashed out at the Congress-led United Progressive Alliance (UPA) government's direct cash transfer scheme here, describing it as a ploy to hoodwink voters in the 2014 Lok Sabha polls. ...  

Sheila Dikshit launches cash transfer scheme in Delhi

The government's ambitious direct cash transfer programme was rolled out in two districts of Delhi on Tuesday with only four out of 26 identified schemes being covered. Chief Minister Sheila Dikshit launched the centrally-sponsored Aadhaar-enabled direct cash transfer scheme being implemented in North West and North East districts. ...  

Direct cash transfer: UPA faces opposition from within

Sources say that many ministers opposed the scheme fearing that the hiccups in the scheme could hurt the party in the Lok Sabha polls. ...

Direct cash transfer in 20 districts from today

Sources say that many ministers opposed the scheme fearing that the hiccups in the scheme could hurt the party in the Lok Sabha polls. ...  

Direct cash transfer in 20 districts from today

The government's ambitious scheme of direct cash transfer of subsidy to bank accounts of beneficiaries begins on Tuesday across 20 districts of the country with Finance Minister P Chidambaram describing the move as a "game changer". ...  

Cash transfer a scheme to 'fool' people, says BJP

Bharatiya Janata Party on Monday accused the government of "fooling" the people by hurriedly implementing the cash transfer scheme without issuing Aadhaar cards to all the intended beneficiaries and creating an environment of confusion. "In 2012, the government's own game plan has been spoiled and yet it is calling this cash transfer scheme a game changer. The scheme is only being implemented in some districts. Moreover, the opinion within the...  

Chidambaram admits glitches in cash transfer scheme rollout

Union Finance Minister P Chidambaram, who had earlier described it as "pure magic" and "error free", has admitted that the rollout of the controversial Direct Cash Transfer (DCT) scheme may have some glitches. The poverty reduction scheme, through which the government aims to provide benefits to the poor directly through cash instead of in the form of subsidies, will be rolled out on January 1. ...  

Ramesh to launch direct cash transfer scheme on Jan 2

Union Minister Jairam Ramesh will launch the direct cash transfer scheme from Gollaprollu Mandal of East Godvari district of Andhra Pradesh on January 2, a senior official said on Wednesday. ...  

Direct Cash Transfer scheme not a complex project: PC

Union Finance Minister P Chidambaram on Monday said the Direct Cash Transfer (DCT) scheme to the targeted sections of people "will be a simple and error-free" arrangement with the utilisation of technology. Addressing officials of Puducherry government and various banks at a meeting organised by state level Bankers Committee here, Chidambaram said "with the availability of banking technology, the scheme is not a complex arrangement but an easy programme." ...  

Direct Cash Transfer system a 'pure magic': Chidambaram

Describing the proposed Direct Cash Transfer scheme a 'pure magic' that brings a big responsibility on banks for its implementation, Finance Minister P Chidambaram on Saturday asked bankers to work with the government to make the scheme a success. ...  

RBI holds repo rate, CRR; focus shifts to growth

The RBI kept interest rates on hold on Tuesday, ignoring government pressure to reduce borrowing costs, but said it was shifting its focus towards boosting a flagging economy, raising the odds of a rate cut as early as January. ...  

RBI keeps CRR, repo rate unchanged

The Reserve Bank of India on Tuesday left policy interest rates unchanged as expected on Tuesday, ignoring the growing clamour from business and politicians to lower them, reiterating its October guidance of further policy easing in the March quarter as it shifts its focus towards boosting growth. ...  

Cash transfer scheme to eliminate middlemen: PC

Expressing satisfaction over progress in implementation of Aadhaar card-based cash transfer scheme, Finance Minister P Chidambaram on Saturday said it will eliminate middlemen and ensure that government aid directly reaches the intended beneficiaries. While addressing a gathering of government officials and representatives from various banks in Alwar, he stressed upon the crucial role Aadhaar cards, which contain the unique ID of holders, were going to play in the successful implementation...  

Cong will pay a big political price for cash transfer: Nikhil Dey

Implement direct cash transfers adequately and win the next two general elections in 2014 and 2019 is the simple new mantra of the Congress party. The story on the ground, however, is vastly complex. Here, activist Nikhil Dey who has decades of experience not just in architecting laws like the Right to Information and the Mahatma Gandhi National Rural Employment Guarantee Act, but has also observed the impact and working...  

'Direct cash transfer scheme will be last nail in UPA's coffin'

" ...if they go ahead with the illusion that they can implement mass cash transfers before 2014 elections this will be the last nail in the coffin of the UPA government" said Jean Dreze. He also termed as " dangerous" the political ambition in direct cash transfers that seeks to reduce the stake of of the state governments. Villagers from across the country demanded a quick passage of the food ...

Cash transfer scheme a revolutionary measure: Sonia

Congress President Sonia Gandhi on Saturday inaugurated the Dilli Annashree Yojna which is Delhi government's scheme to provide food security to two lakh vulnerable households not covered under BPL and other food security schemes. ...  

Cash transfer will help Cong win elections: Rahul

Making a strong case for the direct cash transfer scheme of the United Progressive Alliance (UPA) government, which has been termed as a gamechanger, Congress general secretary Rahul Gandhi on Friday said proper implementation of it would help his party. ...  

Activist Usha Ramanathan criticises direct cash transfer scheme

The line between the Congress party and the Congress led UPA government seems to blur as the party and the government go all out to sell their ambitious direct cash transfer scheme. 'Aap ka paise, aap ke haath' is the new slogan for 2014 elections. The government claims that the entitlement/cash would reach the beneficiaries' bank account directly and, hence, reduce corruption. But, the claims of the government have been...