Gujarat to give reservations on economic criteria
Ahmedabad : The Gujarat government on Friday announced 10 percent reservation for all non-reserved categories on the basis of their annual income.
 
Chief Minister Anandiben Patel told the media that the reservation will be given to all those whose annual income is Rs.6 lakh or less.
 
The announcement comes amid ongoing protests for reservations in jobs by the members of Patel community. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  • User

    COMMENTS

    RAVI RAM PV

    3 years ago

    Good beginning. For real change, the same economic criteria can be applied to everyone.

    Meenal Mamdani

    3 years ago

    Fifty thousand rupees per month upper limit is very generous. The upper limit should have been half of this at least if not lower.

    An Experiment in Rural Reshaping
    Manavlok mobilises rural men and women to become beneficiaries by putting in equal time and energy in the current Marathwada drought
     
    How many of us are unaffected by reports of the awful water shortage and widespread drought across large parts of the country. Most people are looking to do their bit, at least by contributing to genuine NGOs working to mitigate the plight of people in this crisis and to find solutions for the future. Some, like V Vaidyanathan, chairman of Capital First, chose to hop on to a bus, visit the drought-hit areas, eat at the community kitchen and see for himself the work that was being done before contributing an undisclosed amount. 
     
    The NGO he visited is Manavlok, which stands for Marathwada Navnirman Lokayat.  The current Marathwada drought is among the most severe droughts in recent years in Maharashtra; but the problems are not new. Manavlok, which works at Beed district, calls itself ‘an experiment in rural reshaping’, which is what is truly required to bring about changes that last beyond one drought year, or are forgotten after a bountiful monsoon. 
     
    Manavlok has an interesting approach to welfare– it believes in providing people with the means for development rather than doling out money to them. Its work is not new nor of recent vintage. The thought behind the organisation dates back to the early 1970s when a young group of socialists began to seek solutions to social and political problems of the rural community and concluded that it can only be achieved with economic change. In 1982, they established Manavlok as a voluntary organisation for the socio-economic upliftment of the rural poor.
     
    Over the past 33 years, its activities have grown considerably, but never strayed from the tenet that programmes should be based on the specific needs of the people. Based in the Ambajogai Tehsil of Beed district, Manavlok works in 151 villages of Ambajogai, Majalgaon and Kaij Tehsils.
     
    Dr Dwarkadasji Lohiya laid the foundation of the voluntary organisation when he was studying in an Ayurvedic college in Nanded (Maharashtra). His close association with marginal farmers, landless labourers and traditional village artisans helped him understand their problems and it led to his committed work with Manavlok in the early stages, as the founder. The work is continued by Aniket D Lohiya, his son. 
     
    In the past few months, drought relief and preparing for the monsoon has been an important part of its ongoing activities. It has started community kitchens in 11 of the worst drought-hit villages to ensure one free meal a day to the needy. In return, at least one member of each family has to do voluntary work (shramdan) for water conservation work in that particular village. Over 167,264 needy villagers had been provided meals until 31st March. This activity is sustained through donations from people.
     
    As a long-term water conservation activity, the project ‘Revival of Holna River’ has been undertaken and over 7.5km of de-silting has been done already. The silt acts as soil regenerator for nearby farms. The effort will directly benefit 12 villages through which the Holna River’ flows; other villages around this river will also indirectly benefit by increase in water table and moisture maintenance. A major effort is also on in three villages to build bunds and dig deep trenches to capture rainwater to percolate and recharge the groundwater. 
     
    Other than this, Manavlok runs 37 balwadis and conducts night study programmes at 35 centres to help students, especially school dropouts.  Manavlok is also running a Master of Social Work College Beed.
     
    You can do your bit by joining these efforts or sending a donation to help people in their hour of need.
     
    Manavlok
    Dhadpad, Post Box No - 23, Ring Road, 
    Taluq Ambajogai, District Beed
    PIN 431517, Maharashtra.
    Mobile No: +91 9823030005
    Phone:  02446 247217
    Fax:  91 02446 248888
    Web:  www.manavlok.org

     

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    India's rating at risk from government debt levels: Moody's
    Hong Kong : American credit rating agency Moody's on Wednesday retained India's outlook at 'positive' saying the country's history of double-digit inflation, high government debt levels, weak infrastructure and a complex regulatory regime have constrained its credit profile, while China featured high on the scale of leverage, or debt, risk for sovereigns in the region.
     
    In its report on Asia-Pacific sovereigns, Moody's Investors Service also cautioned that a prolonged worsening in asset quality at state-run banks is the main threat to India's sovereign credit profile and suggested the government provide for higher recapitalisation of stressed banks.
     
    "The main threat to the sovereign credit profile would be via a significant and prolonged worsening in asset quality at state-owned banks, beyond the recognition of bad loans currently under way, that causes contingent liabilities to crystallise on the government's balance sheet," it said.
     
    "Our positive outlook on India's rating is based on our expectation of continued but gradual policy efforts to reduce the sovereign risks posed by high fiscal deficits, volatile inflation and weak bank balance sheets," it added.
     
    The report also said that implementation of the Goods and Services Tax (GST) and bridging large infrastructure deficit are a difficult task before India's government.
     
    Moody's, which has given for India a credit rating at 'Baa3' that is just a level above their junk category, said it would consider a rating upgrade after 12-18 months, depending on improvement in macroeconomic parameters.
     
    Public sector banks (PSBs) are currently engaged in an asset quality review (AQR) following a Reserve Bank of India directive, which has led to an increase in bad loans and provisioning.
     
    Industry body Assocham said last week that the slowdown in steel, textiles, aluminium and others coupled by the ongoing AQR is likely to push banks' stressed assets to Rs.10 lakh crore-mark in the fourth quarter of 2015-16.
     
    "At the end of December (2015), the total stressed assets of all the banks were at Rs.8 lakh crore which is expected to see a significant jump in the current quarter itself," said a study by the industry body.
     
    It said total stressed assets of banks rose four-fold to Rs.7.40 lakh crore by the end of March 2015 from Rs.2.33 lakh crore as of March 2011.
     
    Assocham noted that in nine months from April to December 2015, gross non-performing assets (NPAs), or bad loans, rose by Rs.1 lakh crore from Rs.2,98,641 crore to Rs.4,01,590 crore.
     
    In percentage terms, gross NPA ratio of public sector banks shot up from 5.43 percent in March 2015 to 7.30 percent by December 2015, while mounting loans have made 11 PSBs report losses of Rs.12,867 crore in Q3 of 2015-16.
     
    Noting that China, which has 'Aa3 negative' rating and whose state-owned enterprise (SOE) liabilities are particularly large, Moody's said on Wednesday that total liabilities in the SOE sector rose to more than 115 percent of GDP in 2015, from under 100 percent in 2012.
     
    "Stress in China's SOE sector implies a rising probability that some liabilities will crystallize on the government balance sheet. China's climbing debt burden and sizable contingent liabilities were a key driver of our decision to place a negative outlook on the sovereign rating in March 2016," the report said.
     
    "Three factors will likely determine sovereign credit trends in the region. First, the degree and nature of the build-up in leverage, and the extent of buffers that counterbalance related risks. Second, how economies respond tothe opportunities and challenges offered by China's rebalancing," it added.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  • User

    COMMENTS

    Ramesh Poapt

    3 years ago

    Govt has directed to PSBs to find out ways to recapitalize of their own.it is a tough task for them.Recovery is equally difficult.RBI is diluting provision and reserve norms and resorting to liquidity infusion.Mergers may not solve the problem.Proposed insolvency act,refurbishing DRTs,SARFARASI Act may help to some extent.But payment banks,small banks may snatch away the business share.FII limit to 49% will play its role in due course.MoreNPAs expected by fy 2017 end.Tricky situation indeed! May be future opportunities somewhere.........!

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