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Prime Minister Narendra Modi launches MUDRA bank with Rs.20,000 crore corpus

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By Newsgram Staff Writer

In order to promote the growth of the micro businesses and increase employment in the country, Prime Minister Narendra Modi launched Micro Units Development and Refinance Agency (Mudra) bank with a corpus of Rs.20,000 crore, on Wednesday.

According to the officials, the step has been taken to encourage 58 million small businesses around the country. Also, 120 million people will be employed including the underprivileged section of the society.

“After ‘banking the un-banked’ with the Jan Dhan Yojana, it’s time to ‘fund the unfunded’,” said the Prime Minister at the launch event of Mudra.

“Millions of common men and women in this country, who run small businesses, have almost remained outside the net of formal institutional finance, in spite of their large contributions to the economy,” Modi added.

“Providing access to institutional finance to such micro and small business units and enterprises will not only help in improving the quality of life of these entrepreneurs, but also turn them into strong instruments of growth and employment generation,” said the finance minister Arun Jaitley.

The new norms will help small businesses a fair environment to repay their loans.

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Naxalism: Result of 10% Anglophone masters ruling over 90% of Indians

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By Dr Kallol Guha

The Naxal conflict has been a major question mark on the practices and policies of Indian government for decades. Every government, coalition or majority, has tried to resolve the issue, but with little success. Starting from a little village called Naxalbari in Darjeeling district of West Bengal in the 60s, the ‘red corridor’ today covers Andhra Pradesh, Telangana, Chhattisgarh, Madhya Pradesh, Bihar, Jharkhand, Uttar Pradesh and West Bengal.

The present day Narendra Modi led NDA government too is dabbling with the issue. Prime Minister Modi, during his recent visit to Burdwan, appealed to the Naxalites that the shoulders of youth should bear ploughs, not gun.

The problem of Naxalism has roots in chronic corruption and consequent underdevelopment and deprivation of a given section of population. Report on youth Employment-Unemployment scenario (2012-13) states that “Every 1 person out of 3 persons who is holding a degree in graduation and above is found to be unemployed for the age group 15-29 years”. Employment situation in the villages is even worse. No Government in this universe can possibly create jobs for the number of emerging workforce in India.

Naxalism is just a symptom of poor and inefficient governance, rampant corruption, total lack of justice and understanding of the problems of the peasant class by the Anglophonic ruling class. The symptoms are getting more and more serious despite media attempt to project it as the handy work of some unruly vandals. Since the sixties state machinery has tried to exterminate the movement by brutal force and the net result is that the Naxals have now spread deeper and wider into the heartland of India.

Sustainability of this movements shows that its leadership is far more capable and talented than the Anglophonic ruling class of India. Perhaps it is time that the new Government accepts this fact and with all honesty and sincerity invite the Naxalites for a dialogue.

General VK Singh once made a comment in the context of Naxalite Movement: “ Ye alag desh banane ke liye to nehi ladta. Ye apne haq ke leye lardta hai.” . Why not ask the General to handle this issue ?

(The writer is the President & CEO of Saint James School of Medicine headquartered in Illinois.)

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Obama praises Modi for unleashing ‘India’s true potential’, calls him ‘India’s reformer-in-chief’ in Times article

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By NewsGram Staff Writer

In an atypical gesture, US President Barack Obama on Thursday called Prime Minister Narendra Modi India’s “reformer-in-chief” in an article he wrote for the prestigious Time magazine.

“As a boy, Modi helped his father sell tea to support their family. Today, he’s the leader of the world’s largest democracy, and his life story – from poverty to prime minister – reflects the dynamism and potential of India’s rise”, Obama said.

The US president said that Modi is “determined to help more Indians follow in his path”.

Lauding the efforts of the Indian premier, Obama said that the Indian prime minister had “laid out an ambitious vision to reduce extreme poverty, improve education, empower women and girls and unleash India’s true economic potential while confronting climate change”.

“Like India, he transcends the ancient and the modern-a devotee of yoga who connects with Indian citizens on Twitter and imagines a ‘digital India’ “, he said.

Calling Modi by his first name Narendra, Obama recalled the time he came to Washington and they visited the memorial to Martin Luther King Jr.

“We reflected on the teachings of King and (Mahatma) Gandhi and how the diversity of backgrounds and faiths in our countries is a strength we have to protect”, Obama wrote.

“Modi recognizes that more than 1 billion Indians living and succeeding together can be an inspiring model for the world,” he said in the piece in which Time’s 100 most influential people in 2015 were profiled.

Returning the compliment, Modi thanked the US President for his ‘touching and inspiring’ words and tweeted about Obama’s write-up in the magazine.

Modi and Delhi Chief Minister Arvind Kejriwal are the only Indians in the Time’s list, which is currently being topped by Russian President Vladimir Putin.

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Relief for distressed farmers: Prime Minister Narendra Modi increases input subsidy by 50 per cent

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By Newsgram Staff Writer

Expressing grief over the crop loss suffered by farmers, Prime Minister Narendra Modi today said that the input subsidy given to distressed farmers will be enhanced by 50 per cent of the existing amounts. He said this was a major departure from the incremental changes in input subsidy that had been made hitherto.

Announcing a landmark change in norms for input subsidy, the Prime Minister said farmers will now be eligible for input subsidy if 33 percent of their crop has been damaged, as opposed to 50 percent or more, which was the norm till now.

The Prime Minister expressed concern over the problems faced by farmers due to abnormal weather over the past year. He said that helping the farmer in this time of distress is our responsibility, and therefore, the Government had sent teams of Central Ministers to affected areas, to assess the extent of damage. He said the Union and State Governments, the banks and insurance companies would all do their utmost to provide relief to the farmers.

The announcements were made by the Prime Minister in his address during the launch of the Pradhan Mantri MUDRA Yojana.