After closing down 2 oldest & established NBFCs like Sahara and Peerless. the Govt is now cheating the poor people with their populist schemes. It is like pushing dream schemes to people struggling to afford 2 square meals daily.
These NBFCs were providing upto ten rupees daily door-step savings to crores of poor rural people who had no access to banking sector. They were also providing employment to lacs of field staff or agents from rural background.
Instead, the Govt should have roped in these NBFCs to register as rural partners to serve all such deposits into Nationalised Banks alongwith KYC compliance and in return pay certain commission for maintaining their rural network & operations.
This would have neen a win-win situation for the Govt. the PSU Banks and the NBFCs.
More number of NBFCs would have registered for this Public Private Partnership to cover vast untapped rural regions accross the country and these populist schemes would then have been successful.
Atal pension yojana is a good scheme meant for poor labourers who will find it difficult to meet both the ends when they retire.If both husband and wife join the scheme they can get Rs.10000. every month.So the scheme require second round of publicity.It will succeed if employers insist their employees to join the scheme.
Modi Govt is trying hard to show that they are different.They have short of economic brains and in process they are landing in half baked fancy programmes which are in long run going in vain.
Fact remains that every biz in india is somewhat marinated with some amount of black money in some area!! The tightening of black money by IT has created a glut n circulation n biz is affected. Till the people get used to reality!!thus all schemes are taking a beating till it's understood that .. That there's no other way!!
Fact remains that every biz in india is somewhat marinated with some amount of black money in some area!! The tightening of black money by IT has created a glut n circulation n biz is affected. Till the people get used to reality!!thus all schemes are taking a beating till it's understood that .. That there's no other way!!
The schemes mentioned to be flop/unsuccessful by the writer are meant only for the lower Monday dale class and below. These people were never educated or encouraged to save whatever they can for their own future. Instead encouraged to go for borrowings and thereby callous spending. Mr. Modi's efforts are in the right direction to bring these people to the main stream and it should be encouraged. Unfortunately the state governments run by non-BJP parties spread malicious propaganda forget furthering the scheme. Further, any scheme would take time to fruictify.
All the financial scheme that BJP has brought are only to take money from common public... but point is that after one point public money will dry... Modi should be looking Middle class to earm more money so that they can save more.. but in last 1 and 1/2 years common man saving has gone down... people are forced to pay more tax... and GST will increase tax from 12 to 18%... 50% more times... shame on BJP
This article is a propoganda against MODIJI.The scheeme is for the public and not for investment,so the focal point of the article is gone.If public is not interested in buying this insurance so be it.Why creticizeMODIJi. Stop this NONSENSE against MODIJI>
Re: Public insurance
by Useless Comments on Dec 06, 2015 12:26 AM | Hide message
y be you are modi bhakt who do not want to listen even a healthy criticism
Re: Re: Public insurance
by martin descent on Dec 07, 2015 12:31 AM
"What is healthy criticism ? If you do not understand why the scheme was launched then you can not criticize its success or failure. The author and you like your name are useless"
One million sustainable regular APY accounts are better than 50 million unsustainable irregular APY accounts. Sama is true for any financial scheme meant for poor or informal sector work force. Yes it is true that informal sector work force has several limitations with respect their earnings. That is the concern and issue. But can it resolved with doing away of penalty clauses etc. A Big no. Only way is improvements in income and income flows. These financial schemes and products for these poor and informal sector is always a challenge.
Re: Financial scheme and Products for Poor is big challenge
by martin descent on Dec 07, 2015 12:32 AM
"Well said. TheBong will never come out ofCommunist mind"