The Indian government on 1st February unveiled its budget for the financial year 2018-19, with a focus on farmers, rural poor, healthcare and infrastructure. Finance Minister Arun Jaitley pegged the fiscal deficit target for next year at 3.3 percent — higher than market estimates — and also anticipated economic growth above 8 percent in the next fiscal year, as he presented the budget in the Indian parliament. Announcing a slew of farm-focused measures, Jaitley allocated billions Indian rupees for the country’s rural infrastructure and unveiled what he claimed to be the world’s largest government-funded free healthcare scheme for around 500 million poor families. Asserting that the government is committed to increasing the incomes of farmers, he announced the setting up of Agri-Market Development Fund as well as raising the minimum support price to 1.5 times the production cost for Kharif crops, a key demand of distressed farmers. “Grameen Agricultural Market will provide farmers a means to sell directly to buyers. The focus is on low-cost farming, higher minumum selling price. Our government’s emphasis is on generating farm and non-farm employment for farmers,” the minister stressed. On the health sector, Jaitley announced the new National Health Protection Scheme for the poor by providing 500,000 rupees (US$7,841) per family per year for secondary and tertiary care hospitalisation. “This is the world’s largest government-funded health program,” he said, adding that the government would set up at least one medical college and a hospital in every three parliamentary constituencies of India. Though there has… [Read full story]
A bullock cart passes a new toilet built by Sulabh International in a village in Badaun, India. It took the mysterious death of two teenage girls for a village in northern India to get toilets. The gruesome sight in May of two girls hanging from a mango tree by their scarves triggered national outrage over the dangers women face while defecating in open fields. While the cause of death is disputed by their parents, the 113 pink and blue outhouses built after the tragedy alleviate the need for women to walk to nearby farms to relieve themselves. "In my old…... [read more]
Indian fusion music band cheers Vietnam-India relations The Saigon Times Daily Shwaas, a fusion rock band headed by Rajesh Prasanna from New Delhi, India that blends Indian classical music with jazz and blues, performed at HCMC Opera House, in HCMC’s District 1 last Friday. Beginning with suggested remarks by Tourism Minister Dr. K. Chiranjeevi, the performance was attended by Indian businessmen in HCMC and students sponsored by the Indian Embassy to mark the 40th anniversary of the establishment of full diplomatic relations between Vietnam and India. The band has performed in Danang and will perform in Can Tho City on…... [read more]
Govt targets budget deficit below 3.5% of GDP Tu Hoang HANOI – The Government will continue consolidating macro-economic fundamentals in the 2016-2020 period to curb inflation at under 5% a year and cut budget deficit to less than 3.5% of gross domestic product (GDP) in 2020. According to an action program for implementing two economic restructuring resolutions of the Party and the National Assembly, public debt will be limited at no higher than 65% of GDP in the next five years. By 2030, public debt will fall to below 60% of GDP, government debt under 50% of GDP and foreign…... [read more]
(CPV) - More than 60,000 households in rural India will have better access to electricity by 2015 as Simpa Networks, a company supported by ADB, scales up the sales of its off-grid, pay-as-you-go solar energy solutions. ADB has signed a $2 million equity investment in Simpa Networks, a company that offers a simple, prepaid payment platform to enable affordable clean energy solutions for underserved consumers in India. "The success of this entrepreneurial venture could lead to increased venture capital funding for inclusive business models which deliver goods and services to those at the base of the economic pyramid," said Aniruddha…... [read more]
Budget focuses on economic growth (02-11-2009) Minister of Finance Vu Van Ninh spoke to Thoi bao Kinh te Viet Nam (Vietnam Economic Times) about implementation of the 2009 State budget and planning for next year's estimates. What do you consider the most important achievement in the implementation of this year's State budget? The budget revenue, estimated to surpass VND390 trillion (about US$21 billion) this year, is equivalent to 100.2 per cent of the estimates. Budget overspending has been restricted to 6.9 per cent of Gross Domestic Product (GDP). National debt stands at 29.7 per cent of GDP, which remains at…... [read more]
