Arterial bridge in Kolkata collapses, several persons trapped

Thiruvananthapuram, May 12: Kerala Government on Tuesday issued modified guidelines for infrastructure arrangements and procedures to be followed to ensure smooth interstate movement of stranded persons during the lockdown.

"Necessary permission, if any, required from the State where you are presently located need to be taken for ensuring a smooth journey till Kerala border," read the order by the state government.

It has also made it clear that people will only be allowed to travel if they have the permit from the state government and local authorities.

"You are requested to start the journey only after receiving the travel permit from the Government of Kerala and the local authority of your present location to avoid any problem during travel. Those who reach at the check post without passes will not be allowed entry," it further read.

The orders by the government further read:

*To maintain social distancing norms, only 4 persons will be permitted to travel in a car, 5 in an SUV, 10 in a van and 25 in a bus. The maximum number of passengers in a van /bus will be half of the seating capacity).

*Keep sanitiser, use masks and maintain physical distancing throughout the journey.

*An exit and entry pass/passes shall be issued by the District Collectors to those persons who seek to go outside states to bring back their stranded child/ children, spouse and parent/s.

*Everybody including those coming from red zones shall remain under home quarantine for 14 days from the date of arrival.

*Only priority groups and persons will be allowed entry passes:

a) Those from neighbouring states seeking Medical aid in Kerala

b) Pregnant ladies with family

c) Family members including children separated due to lockdown

d) Students

e) Senior citizens with family members

f) Persons who had lost a job.

The guidelines further added that all luggage must be disinfected and temperature checks must be carried out with Infrared flash thermometer among other things.

New Delhi, Feb 5: Over five crore farmers were yet to get the third instalment of money under the Centre's ambitious PM-Kisan scheme, aimed at providing direct support of Rs 6,000 annually to them, according to the latest Ministry of Agriculture and Farmers' Welfare data.

The total amount of the scheme, which came into effect on December 1, 2018, is to be paid in three equal instalments of Rs 2,000 every four months.

The data showed about 2.51 crore farmers have not got even the second instalment and 5.16 crore of them were yet to get the third instalment.

Over 9 crore farmers have registered themselves under the scheme between December 2018 and November 2019, it said.

Of these, 7.62 crore or 84 per cent of farmers have received the first instalment.

The money through the second instalment was given to nearly 6.5 crore farmers and the amount under the third instalment was given to 3.85 crore beneficiaries, according to the data received in response to an RTI query filed by this PTI journalist.

The agriculture ministry, in its response, gave three sets of data mentioning the benefits given to farmers under the scheme between December 2018 and November 2019.

It said 4.74 crore farmers were registered between December 2018 and March 2019.

Of them, 4.22 crore received the first instalment, 4.02 crore the second and 3.85 crore the third.

There was no mention why nearly 50 lakh, 70 lakh and 90 lakh registered farmers during this period did not get the first, second and third instalment respectively.

There was no registered beneficiary in West Bengal and Sikkim, hence no amount was disbursed during this period, according to the data.

Giving details of the 3.08 crore farmers registered between April and July last year, it said 2.66 crore and 2.47 crore beneficiaries have got their first and second instalments respectively.

The RTI reply did no mention why around 40 lakh and 61 lakh registered farmers during this period did not get their first and second instalment respectively.

"The beneficiaries are eligible for the instalment for the period in which he/she gets registered and subsequent periods, thereafter. Therefore, the third instalment is not due for the beneficiaries registered in the period April 2019-July 2019," the ministry said.

There was no registered beneficiary during this period in West Bengal, Punjab and Chandigarh and therefore nobody was paid first and second instalments.

The ministry said around 1.19 crore beneficiaries were registered between August and November 30, 2019, of these nearly 73.66 lakh farmers have been given the first instalment.

There was no mention of payment of first instalment to over 45 lakh eligible beneficiaries during the period.

"The beneficiaries are eligible for the instalment for the period in which he/she gets registered and subsequent periods, thereafter. Therefore, the second and third instalments are not due for the beneficiaries registered in the period August 2019 to November 2019," it said.

The ministry was asked to provide the total number of farmers, state-wise, and the amount received by them under the Pradhan Mantri Kisan Samman Nidhi or PM-Kisan scheme.

"PM-Kisan Samman Nidhi scheme has been implemented from December 1, 2018. It is stated that PM-Kisan is a continuous and ongoing scheme, in which the financial benefits are transferred to the bank accounts of the identified beneficiaries as and when their correct and verified data is uploaded by the concerned states/union territories on PM-Kisan web portal," the ministry said in the RTI response vide its letter dated December 26, 2019.

The data of beneficiaries so uploaded by them undergoes a multi-level verification, including by banks, and only then the amount is released to the beneficiary, it said, adding that www.pmkisan.gov.in website can be accessed to get more details on the operational guidelines of the scheme.

According to the data updated on the website on February 3, around 8.82 crore farmers have been registered and 8.41 crore have received the first installment, 7.56 crore the second instalment, 6.19 crore the third and 3.03 crore have received the fourth installment.

In Assam, out of 16.97 lakh farmers registered during this period, 14.02 lakh got the first instalment, 13.72 lakh received the second and 9.87 lakh the third.

Of the 42.34 lakh registered beneficiaries in Maharashtra, 36.98 lakh got the first instalment, 31.53 lakh the second and 27.67 lakh got the third instalment.

As many as 23.83 lakh farmers in Kerala received their first instalment, 18.79 lakh got the second and 18.43 lakh the third. A total of 26.13 lakh beneficiaries were registered in the state between December 2018 and March 2019.

There was no beneficiary registered during the period from West Bengal, which has refused to implement the scheme, according to the ministry's response.

In Uttar Pradesh, nearly 9.57 lakh out of 19.64 lakh farmers have got the first instalment. In Gujarat, nearly 1.22 lakh out of 1.98 lakh registered farmers got the first instalment.

Around 9.78 lakh farmers out of the 17.18 lakh registered beneficiaries have received the first instalment in Madhya Pradesh. In Odisha, only 5,507 farmers out of 5.6 lakh registered farmers have got the first instalment, the ministry said.

None of the 7,326 farmers registered in Sikkim was paid the first instalment, according to the ministry's reply. In Delhi, 1,447 farmers out of 1,734 have got the first instalment.

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.