20 Lakh People Gave up Cooking Gas Subsidy, Says PM Modi
20 Lakh People Gave up Cooking Gas Subsidy, Says PM Modi
Underscoring the importance of people's participation to make the government's efforts successful, Prime Minister Narendra Modi today said at least 20 lakh people have surrendered their gas subsidy and Rs.15,000 crore had been saved due to introduction of direct benefit transfer in LPG subsidy.
In his address to the nation on the occasion of 69th Independence Day, PM Modi spoke about the importance of eradication of poverty and government schemes for the uplift of the poor. But it was the participation of the people that helped make such schemes a success, he said.
As examples, he cited the national cleanliness drive, which he had launched during his maiden address from the ramparts of the Red Fort last year.
The other example he cited was the surrender of the LPG connection by at least 20 lakh people under the "Give it up" scheme in response to his call earlier this year. The subsidy that people will give up, will "go a long way in benefitting the poor people," he had said in March.
Today, he said, "We got the LPG gas subsidy under direct cash benefit transfer... We used the Jan Dhan Yojana and Aadhar cards... Because of this middlemen and black marketeers have been hit," he said.
"We corrected the system and Rs.15,000 crore, which was stolen every year in the name of gas subsidy, has been saved," PM Modi said.
Mr.PM!How many from the Politics did give up subsidy and other things?
Arun Jaitley's 7 Big Announcements to Revamp PSU Banks
High levels of non-performing assets in state-run banks have made it hard for the government to revive investment or accelerate growth, analysts say. In a big move to revamp state-run banks, the government is working on a 7-point agenda, said Financial Services Secretary Hasmukh Adhia.
The first element of the government's strategy, Mr Adhia stressed, is appointments. Two bankers from the private sector have been appointed as heads of PSU banks in a much-hyped move. Former Microsoft India chairman and current Infosys board member Ravi Venkatesan will become the chairman of state-run Bank of Baroda.
Bank Board Bureau: The government will set up a Bank Board Bureau through which two dozen state-run banks would be monitored for key performance indicators.
Capitalization: The government will inject a total of Rs 25,000 crore of capital into debt-laden state banks in this fiscal; Rs 20,000 crore would be injected in a month. Over the next four years, the government plans to inject Rs 70,000 crore.
De-stressing: Bad loan ratios at state-run banks have near-doubled in the past four years as weak economic growth hurt companies' ability to repay debt. However, the situation of stressed assets is not so bad, Mr Adhia said.
Empowerment: More flexibility will be given to state-run banks for hiring manpower, the government said.
The government will soon come out with a framework of accountability and announced more reforms as part of its strategy to revamp the public sector banking sector, Mr Adhia said.
Independence Day Live: We have accepted One Rank One Pension, PM Modi declares
If the just-concluded Monsoon Session of the Parliament is anything to go by, the country, including the BJP's political opponents, is eager to hear Narendra Modi speak. His stony silence on several thorny issues like the Vyapam scam and the Lalit Modi scandal has left the Opposition jubilantly training their guns on the BJP. And his fans, are eager to hear the a defence of the party by Modi, who has been the BJP's best orator in recent times.
So, all eyes will be on the PM today, as he delivers his second speech as the Prime Minister of the country. While he is least likely to address the allegations of corruption against his party directly, he can always be trusted to fold in a canny defence of his party in the speech. Or lodge a subtle attack on the Opposition, which has had a field day in Parliament this session.
While one can't say for sure what the Prime Minister is going to talk about, there have been speculations galore. One thing he is most likely to do during the speech is counter the allegations that his government has done little to bring in social and economic reforms in the country. One can expect him to talk at length about his Beti Bachao campaign, something that has received a warm response at least on social media. The Jan Dhan Yojana is most likely to be promoted in this speech too.
In fact, PM Modi had stated on mygov.in that he welcomed suggestions on the issues people want him to address on this Independence Day. Mint reports, "Prime MinisterNarendra Modi has received over 12,000 suggestions so far on mygov.in, after he asked people to write in with their thoughts on what he should focus on in his Independence Day speech on Saturday. Suggestions range from mentioning martyrs of the Indian freedom movement in his speech, to accepting the demand of ex-servicemen for One Rank, One Pension, and from ways to combat pollution to making India safer for women."
Commenting that this year's speech is crucial since the country has moved on from the departure of the Congress last year, and will expect more substance than rhetoric in his speech, a Wall Street Journal report says, "His three Independence Day offerings last year — a program to open millions of bank accounts, a campaign to end open defecation and his "Make in India" manufacturing and job-creation drive – are cited by officials as game-changers. This year, Mr Modi is likely to announce more."
All eyes will be on PM Modi and we can only hope that he will be able to make up for his party's dismal showing in the Parliament this session.
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