Latest news with #Start-UpIndia
News18
05-07-2025
- Business
- News18
India More Equal Than G7 & G20 Nations, Says World Bank Report As Jan Dhan, Aadhaar Fuel Rise
Last Updated: As per the report, extreme poverty dropped to 2.3 per cent in 2022-23 and 1.71 million Indians have moved out of the extreme bracket between 2011 and 2023 India is growing and also bridging the gap between its people. A latest World Bank report places India among the world's most equal societies. It ranks as the fourth most-equal country globally, ahead of the G20 and G7 nations. As per the report, extreme poverty dropped to 2.3 per cent in 2022-23 and 1.71 million Indians have moved out of the extreme bracket between 2011 and 2023. These figures are important and impressive, considering India is a vast and diverse country and many areas till recently were considered unreachable. In fact, the figures best reflect the economic growth stories and also show how the various policies of the government and announcements by Prime Minister Narendra Modi are designed to ensure poverty is erased from India. One such key scheme is the Prime Minister Jan Dhan Yojana. This has ensured that even the poor now have bank accounts. As of June 25 this year, over 55.69 crore people have a Jan Dhan account, which means more and more people are getting connected to the scheme and can now avail loans on easy interest rates. Aadhaar and digital identity are also feats that have helped bridge the poverty gap. More than 142 crore Aadhaar cards have been issued and numbers are increasing day by day. DBT or direct benefit transfer has also ensured that savings increased to Rs 3.48 lakh crore. Ayushman Bharat, Start-Up India, Atmanirbhar Bharat, and Pradhan Mantri Garib Kalyan Yojana have all been important contributors. The methodology for calculating the equality index is called Gini Index. As per this index, India's score—25.5—is much lower than China's—which is at 35.7. The lower the index, the more equal you are. Sources say the finance ministry and other infrastructural sectors are working on new policies to ensure that India's Gini index goes lower, which means the country is becoming more equal. The areas of concern for now are in far-flung areas and states like Bihar, Bengal, Jharkhand, parts of Kashmir, and Tamil Nadu. The government hopes that as these areas become more accessible and the Centre's schemes percolate to the last level, India will become more equal. First Published: July 05, 2025, 14:36 IST
Hindustan Times
16-06-2025
- Politics
- Hindustan Times
Government to conduct annual inter-state disaster management drills: Amit Shah
Union home minister Amit Shah on Monday announced that the central government will conduct inter-state disaster management mock drills annually. The announcement was made at the relief commissioners and Disaster Response Forces Conference held in the national Capital. Addressing officials and personnel from the National Disaster Response Force (NDRF), State Disaster Response Force (SDRF) and National Disaster Management Authority (NDMA) in New Delhi, Shah emphasised the government's commitment to integrating the Start-Up India initiative with the advancement of disaster relief technologies. 'The current decade will be considered as the transformative decade for India in disaster response. We made strides in the last decade in terms of capacity, pace, efficiency and accuracy in disaster management,' the Union home minister said, adding that the government has moved away from the previously adopted 'relief-oriented' approach. Also Read: PM Modi has shown India's blood not meant to be shed: Amit Shah in Lucknow Speaking about the importance of coordinated drills, Shah stated, 'There are several disasters that require inter-state mock drills. We cannot succeed in this without the assistance of the state. Therefore, the states should brainstorm on this.' He highlighted the progress made in disaster preparedness, asserting that the government had moved from minimum casualties at the start of the decade to achieving zero-casualty outcomes. Referring to Cyclone Biparjoy in 2023, which struck off the coast of Gujarat, Shah said it recorded no fatalities. 'When I say zero casualties, that means there were no deaths of even an animal in the cyclone,' he added. He urged state and Union Territory relief commissioners to formulate district-level disaster management strategies within 90 days. 'It will be impossible to fight against the disaster until there is a district-level disaster management strategy in place. Commissioners should devise a strategy to protect from lightning and share it with the Centre within 90 days,' Shah said, urging officials to implement the Centre's disaster response guidelines, including the incident response system. Commenting on preparedness for extreme heat events, he stressed the importance of real-time response frameworks. 'Whenever the heat wave begins, we must be prepared before hand,' he added. Shah further stated that disaster response efforts under the current government had become 'more proactive than reactive.' 'We made attempts for financial empowerment and an increase in the government budget for disaster and relief. We also ensured design-oriented institutional empowerment, as well as structural empowerment. Adding all this, we have accepted a multidimensional approach as a policy factor,' he said.
Hans India
08-06-2025
- Business
- Hans India
Women are now key drivers of progress in India: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Sunday highlighted that in the last 11 years, women have emerged as key drivers of progress in the country, with the Narendra Modi government launching various schemes to empower Nari Shakti. Highlighting '11 years of Sashakt Nari', the Finance Minister said that under the PM Jan Dhan Yojna, the world's largest financial inclusion scheme, 55.7 per cent of accounts were held by women, which reflected their empowerment at the grassroots level. She further pointed out that women now account for 68 per cent of the MUDRA loan beneficiaries nationwide. These loans have enabled lakhs of women to become entrepreneurs and pursue their dreams independently. Apart from this, 74 per cent of those getting benefits under the Start-Up India entrepreneurs scheme are also women. Besides, 73 per cent of houses under the PMAY (Gramin) scheme for the poor are owned by women, she said. The Finance Minister also mentioned that 10 crore LPG connections have been given to poor women under the Ujjwala Yojana. These have come as a big boon for them, making their life easier with accompanying health benefits. They have been freed from the harmful smoke of wood and other fuels, such as cow dung, that were used for cooking earlier. The Jan Dhan scheme has been a huge success in financial inclusion, as the average bank balance per account in March 2015 was Rs 1,065, which has now increased to Rs 4,352. Around 80 per cent of the accounts are active, she added. As many as 66.6 per cent of Jan Dhan accounts have been opened in rural and semi-urban areas, and 29.56 crore (55.7 per cent) belong to women account holders. These accounts are used on a large scale. People are also depositing money in them. However, this scheme allows zero balance accounts, and only 8.4 per cent of the accounts have zero balance. When the Modi government first came to power about 10 years ago, it set a target of providing financial and banking services to every citizen. For this, zero balance bank accounts were opened in the banks for the poorest of the poor under 'Pradhanmantri Jan Dhan Yojana' launched on August 28, 2014.
The Hindu
30-05-2025
- Business
- The Hindu
Don't merely enrol students, but equip them with skills
As the admission season for colleges and universities begins, institutions across India are once again promoting their programmes under banners promising knowledge, transformation, and research excellence. This growth in enrolment at the undergraduate, postgraduate, and PhD levels suggests a dynamic academic landscape full of potential. Yet, beneath this expansion lies an important challenge: degrees are proliferating faster than meaningful job opportunities. A gap that needs attention According to data released by the Ministry of Statistics, the unemployment rate in India tends to increase with higher education levels. This paradox reveals a critical gap between academic achievement and employability — a gap that requires urgent attention. This challenge is particularly acute in India's vast network of non-elite institutions in Tier 2 and tier 3 colleges, where most students pursue BA, BCom, or BSc degrees and their corresponding master's programmes. These institutions often face resource constraints and limited industry connections, operating with curricula that have not kept pace with the evolving job market. While elite colleges make headlines for placement challenges, the gradual erosion of employability in everyday colleges often goes unnoticed. In many such institutions, instruction remains largely theoretical, with limited emphasis on real-world skills. For example, an English literature student might study Shakespearean tragedy yet miss out on learning practical skills such as writing professional emails. Similarly, an economics graduate may understand complex theories but struggle with everyday tools such as Excel. This disconnect means millions of educated young people find it difficult to translate their degrees into career opportunities. This situation stems partly from a deeply entrenched academic culture that values scholarship and abstraction over practical application. Within many academic circles — even prestigious ones — higher education is often celebrated as an end in itself, while immediate employment is sometimes subtly undervalued. Postgraduate degrees and PhDs are frequently pursued not just for intellectual fulfilment but as a refuge from the job market, creating a cycle where many graduates end up teaching in the very colleges that perpetuate the same system. It is important to recognise that successive governments have acknowledged this issue. Initiatives such as Skill India, Start-Up India, and the National Education Policy have pushed for skill development, vocational training, and entrepreneurship. However, the transformation remains incomplete. Many undergraduate and postgraduate programmes continue to emphasise rote learning over practical skills. While new courses in AI or entrepreneurship are being introduced, they often lack depth, and integration into the broader curriculum. A broader societal challenge Countries such as China and Japan have successfully aligned education with economic strategies by elevating technical and vocational education to a central role in workforce development. In India, vocational training is still often perceived as a fallback option, both within academia and society. This stigma limits the appeal and effectiveness of skill-based education, despite its vital role in economic empowerment. This contradiction highlights a broader societal challenge: degrees are highly valued as symbols of upward mobility, but they increasingly fail to guarantee it. This is not a call to abandon liberal education or abstract learning — they remain essential for critical thinking and creativity. However, education must also provide tangible economic benefits. Degrees should offer pathways to agency and dignity, especially for students from smaller towns and under-resourced institutions. A way forward lies in integrating practical skill modules — communication, digital literacy, budgeting, data analysis, hospitality, tailoring, and health services — into general degree programmes as core elements, not optional extras. Doctoral education should be diversified to prepare candidates for policy, analytics, consulting, development, and industry roles, not solely academia. Research remains vital, but it must be pursued by those inclined towards it. Finally, the widespread aspiration for government jobs reflects the limited opportunities graduates currently perceive. While these roles remain important, expanding private sector and entrepreneurial pathways through improved employability will offer youth a broader range of options. Enhancing skills and opportunities can reduce the over-dependence on competitive exams. India's growing economy demands an education system that not just enrols students, but equips students with skills. Viewing education as a social contract that guarantees a meaningful connection between learning and livelihood is essential. Gourishankar S. Hiremath teaches Economics at IIT Kharagpur. Views are personal
Coin Geek
05-05-2025
- Business
- Coin Geek
India emerging as a nation of job creators: RBI
Getting your Trinity Audio player ready... India, the fastest-growing major economy in the world, is witnessing a significant shift from being a nation of job seekers to one of job creators. A growing number of graduates, particularly from engineering and management backgrounds, are choosing the path of entrepreneurship, driving a surge in startup activity across the country. To harness the full potential of its vast talent pool, India must continue to ascend the global value chain, according to Sanjay Malhotra, Governor of the Reserve Bank of India (RBI). He was speaking at the U.S.-India Economic Forum organized by the Confederation of Indian Industry (CII) and US India Strategic Partnership Forum (USISPF), Washington DC. 'To take further advantage of the huge human resources, we need to move further up the value chain,' the RBI governor emphasized. India's startup ecosystem is flourishing and fueled by supportive government initiatives such as Start-Up India, Digital India, and the Atal Innovation Mission. The country now ranks third globally in terms of the number of unicorns—privately held startups valued at over $1 billion. These unicorns are increasingly found in cutting-edge sectors like artificial intelligence (AI), financial technology, and clean energy, Malhotra informed. India's cultural shift towards innovation and self-employment has led to the emergence of around 150,000 officially recognised start-ups. 'When I left college, getting a job in a[n] MNC was the preferred choice. None took up the challenge of starting a venture of his own. In recent years, however, a large number of engineering and management graduates are taking to entrepreneurship and start-ups. As a result of the entrepreneurship culture that this generation is embracing, we have about 150,000 recognised start-ups,' Malhotra said. India's commitment to innovation is also reflected in its impressive climb on the Global Innovation Index, moving to 39th position in 2024 from 81st in 2015. It currently leads among lower-middle-income nations. The RBI governor's comments follow closely on the heels of remarks made by U.S. Vice President JD Vance, who highlighted the strong potential for collaboration between the United States and India in technology and innovation. During a four-day visit to India in April, Vance emphasized the natural synergy between American advancements in hardware and artificial intelligence and India's dynamic, rapidly expanding startup landscape. According to Vance, the United States continues to lead globally in developing high-end AI hardware, while India boasts one of the most promising and energetic technology startup ecosystems in the world. Vance noted that this complementary strength positions both nations to benefit immensely through deeper cooperation in emerging technologies and entrepreneurial ventures. India's digital growth boosts economy 'India's digital transformation, recognised worldwide, has emerged as a significant enabler of ease of doing business and ease of living and an important driver of economic growth and innovation. Conducive government and regulatory policies, increasing digital penetration, and a young and aspiring demography have fostered this vibrant ecosystem,' Malhotra said in his speech. The RBI governor said that the government has invested in several digital building blocks like the JAM trinity, Unified Payments Interface (UPI), GSTN, ONDC, Digilocker. Digitalization improves efficiency, raises productivity, enhances formalization, and promotes inclusiveness in the economy. 'Take any domain of the government and one will find that digitalisation and e-governance have enhanced turnaround times, reduced costs and improved customer satisfaction levels,' Malhotra pointed out. 'I was here last year in one of the sessions to speak about how, among other measures, digitalisation in the department of revenue not only enhanced the tax buoyancy but also improved customer experience and processing of returns… On an average, it now takes less than 10 days to process income tax returns in India: down from 93 days in 2014. In contrast, in some countries, it still takes months to get their tax refunds,' Malhotra added. The Reserve Bank is also promoting and nurturing digitalization and innovation, with the UPI as one example. UPI processes about 18 billion monthly transactions, setting global benchmarks in seamless, secure, real-time systems. UPI has also demonstrated how public digital infrastructure can empower private sector innovation to promote financial inclusion. 'Our encouragement and support extend beyond the payment space to the broader fintech ecosystem through various initiatives including the regulatory sandbox. The Unified Lending Interface (ULI), which is currently in a pilot phase, has the potential to transform the lending space. The ULI is expected to transform lending and access to finance just as UPI did to payments,' Malhotra said. The ULI was designed and developed by the Reserve Bank Innovation Hub (RBIH), a subsidiary of the RBI. Launched as a pilot program in August 2023, RBI's ULI is expected to completely transform credit delivery in the country. It is a technology platform built to facilitate access to authenticated data from various sources through a standardized Application Programming Interface (API) to which all lenders can connect seamlessly through a plug-and-play model. 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