Hi, NewsWrap for February 09, 2022

No Need For A Separate Agriculture Budget, Govt. Revamps Scheme For Rehabilitation of the Bonded Laborers, Snowfall & Rainfall Alerts In These States Today, Housing Finance Players Loan Portfolio To Grow,

9 February 2022

  • IMD Weather Update: Snowfall & Rainfall Alerts In These States Today

    On Wednesday, the India Meteorological Department (IMD) forecasted that rain would fall in various states today and tomorrow, including Punjab, Haryana, and West Bengal. In the meantime, snowfall is expected in Jammu and Kashmir, Himachal Pradesh, and other states. The Western Disturbance as a trough in middle and upper tropospheric westerlies runs along Long. 70°E to the north of Lat. 27°N, and an induced cyclonic circulation lies over northeast Rajasthan & vicinity in lower tropospheric levels, causing scattered rainfall and snowfall, according to the weather agency's daily forecast.

  • Government To Revamps Scheme For Rehabilitation of the Bonded Laborers

    The government has redesigned the scheme for bonded laborer rehabilitation, allowing a portion of the amount disbursed per individual to be put into annuities and increasing the immediate aid limit from Rs 20,000 to Rs 30,000. The new central sector system will go into effect on January 27, 2022. There would be an option to deposit Rs 1 lakh of rehabilitation assistance per adult male in an annuity scheme or receive a cash payment under the redesigned scheme. In the event of special category beneficiaries, such as children, orphans, or women, at least Rs 1.25 lakh of the Rs 2 lakh rehabilitation aid would be deposited into annuity, with the remainder sent to the beneficiary's account via direct benefit transfer.

  • No Need For A Separate Agriculture Budget, Says Government

    The government stated in the Lok Sabha on Tuesday that there was no need for a separate budget for agriculture, reiterating its commitment to farmers' interests and farming. Union Minister for Agriculture and Farmers Welfare Narendra Singh Tomar responded to a question in the Lower House by saying that having a separate budget for agriculture will benefit neither the country nor the farmers. He was responding to DMK member T R Baalu's question about why the government does not consider presenting a separate budget for agriculture to solve farmers' problems. India "survived" the global recession, according to the DMK member, because of agriculture.

  • Housing Finance Players Loan Portfolio To Grow At 8 to 10 PC in FY22, Says Report

    According to a report, housing finance businesses' portfolios are expected to rise by 8-10% in the current fiscal year and 9-11% in FY 2022-23. Non-banking financial companies-housing finance companies (NBFC-HFC) witnessed a rapid improvement in the second quarter after a negative impact on their disbursements in Q1 FY2022. In the first half of FY2022, its on-book portfolio was valued at Rs 11.6 lakh crore, up 9% year on year.

     

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9 February 2022

That's it for for 9 February 2022
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