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We have to ensure women get social security benefits before Raksha Bandhan : Modi

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New Delhi: Prime Minister, Narendra Modi, on Sunday asked people to ensure that in the run-up to the Raksha Bandhan festival, women get benefits of social security schemes launched by the government.narendra-modi_505_051214102741
“In August, we have Raksha Bandhan, we can begin a mass movement to ensure that all women and sisters of our country get all security scheme benefits before Raksha Bandhan,” the prime minister said in his monthly ‘Mann Ki Baat’ radio address.

“Whether it is a woman working as a maid in our house, or in our fields, or whether they are our own sisters, we can ensure that they avail the social security schemes,” he said.

Rakshan Bandhan is an Indian festival which celebrates the brother-sister bond. As a symbol of that bond, a sister ties a coloured thread on her brother’s wrist, and he pledges to help and protect her in times of her need.(IANS)

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IMF: Empowering Women Is Smart Economics

IMF says, Getting more women into formal workforce is priority for India

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Ken Kang
Ken Kang. IANS

India must focus as a priority on ensuring that more women work in the formal sector as it continues with labour reforms, according to Ken Kang, the deputy director in International Monetary Fund (IMF) Asia Pacific Department.

While “in recent years India has made very impressive progress in reforms,” he said that “looking ahead there are important policy priorities” and listed three among them.

“One, is to continue improvements in product and labour market reforms with a focus on increasing formal female labour participation to improve the business environment, and reduce complex regulations, but also to address supply bottlenecks, particularly in the agricultural sector and distribution networks,” Kang said at a news conference on Friday in Washington.

As one of India’s major reform achievements, he mentioned the “introduction of flexible inflation targeting and of a statutory monetary policy which has helped to strengthen the monetary policy framework.”

Working woman
Working woman. Pixabay

The Reserve Bank of India Act was amended in 2016, to provide for a Monetary Policy Committee that decides on the interest rate required for achieving the inflation target set by the government in consultation with the bank.

The other achievements include the Goods and Services Tax (GST) and the “major recapitalisation plan for the public-sector banks in order to accelerate the work out of nonperforming loans, as well as made some important legal improvements through a new insolvency and bankruptcy law,” Kang said.

“We expect and hope that the reform momentum continues,” he added.

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“We are not saying that India’s structural reform speed will slow down because of elections,” Changyong Rhee, the IMF director of the Asia Pacific Department said.

“What we are saying is that the growth momentum and the structural reform momentum should continue despite the election period. So there is something misquoted,” he added.

On Thursday, IMF Managing Director Christine Lagarde had said at a news conference on Thursday, according to the IMF transcript: “We have seen and we are seeing — I am not sure that we will be seeing in the next few months given the elections that are coming up — major reforms that we had recommended and advocated for a long time.”  IANS