Rupee gains 9 paise against dollar in early trade

Rising for the fifth straight day, the rupee firmed up by another 9 paise to 71.22 against the dollar in opening trade on Monday on increased selling of the American currency by exporters amid foreign fund inflows. Forex dealers said weakness in the dollar against some other currencies overseas and foreign capital inflows in the domestic equity markets supported the rupee, but a lower opening of the domestic equity market capped the gains. At the interbank forex exchange, the rupee started lower at 71.37 and softened to 71.44 against the…

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Finland basic income ‘did not help jobless’.

Giving jobless people in Finland a basic income for two years did not lead them to find work. From January 2017 until December 2018, 2,000 unemployed Finns got a monthly flat payment of €560 (£490; $685). The aim was to see if a guaranteed safety net would help people find jobs, and support them if they had to take insecure gig economy work. While employment levels did not improve, participants said they felt happier and less stressed. When it launched the pilot scheme back in 2017, Finland became the first…

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Rupee Gains 11 Paise to 71.45 vs USD After RBI Rate Cut

Rupee Gains 11 Paise to 71.45 vs USD After RBI Rate Cut

Mumbai: The rupee on Thursday appreciated by 11 paise to close at 71.45 against the US dollar after the Reserve Bank of India cut the repo rate and changed its policy stance to ‘neutral’. Forex traders said the domestic currency gained strength after the Reserve Bank of India Thursday cut benchmark lending rate by 0.25 percentage point to 6.25 per cent. Moreover, easing crude prices and fresh foreign fund inflows also propped up the local unit. This is the third consecutive session of appreciation for the rupee, during which it…

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Unregulated deposit schemes to be banned

The Union Cabinet on Wednesday approved the official amendments to an Act that classifies any deposit scheme not registered with the government as an offence and bans it, the government announced. “The Cabinet has given its approval to move official amendments to the Banning of Unregulated Deposit Schemes Bill, 2018, pursuant to the recommendations of the Standing Committee on Finance,” the government said in a release. “The amendments will further strengthen the Bill in its objective to effectively tackle the menace of illicit deposit-taking activities, and prevent such schemes from…

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A New Pest Wary Venezuela cocoa growers

Venezuela cocoa trader Freddy Galindo has battled highway robberies, kidnappings of family members and declining quality in his 19 years spent on exporting the nation’s legendary beans. This year’s harvest brought a new worry: meddling by the socialist government. He said trucks filled with beans leaving his warehouse in central Venezuela were stopped by soldiers at checkpoints and held for days; drivers were forced to unload some cargo at government warehouses. Mr. Galindo claims that some 87 tonnes of his cocoa, worth $1,30,000, were missing when the trucks were finally…

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Shatrughan Sinha Trashes Interim Budget As “It’s Insulting, Humiliating”

The government’s promise of yearly cash help to farmers in the interim budget couldn’t impress BJP dissident Shatrughan Sinha, who said today that the pledged aid was not enough. In an attack on Twitter, Mr Sinha, who misses no opportunity to attack his party’s leadership, said that the amount offered was “insulting and humiliating”. The government announced Rs. 6,000 annual cash transfer to farmers with land holding less than 2 hectares. The budget promise was slammed by Congress president Rahul Gandhi, BJP’s main rival. “You can waive Rs. 3.5 lakh…

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Modi Govt Will Prepare New NSSO Report to Show ‘Increase in Jobs’, Says PM’s Economic Advisor

Modi Govt Will Prepare New NSSO Report to Show ‘Increase in Jobs', Says PM's Economic Advisor

New Delhi: A day the National Sample Survey Office’s Periodic Labour Force Survey recorded the unemployment rate in India at a 45-year-high, Prime Minister’s Economic Advisor, Bibek Debroy said that they will prepare a fresh jobs report. “The survey will show that there has been a substantial increase in jobs,” said Debroy. “It is important to realise that what is the role of the Modi government in jobs. It is partly union government and large part of what happens to business environment, jobs, employment is the problem of states,” he…

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FM Announces Pension For Informal Workers, Hikes Tax-Free Gratuity to Rs 30 Lakh

FM Announces Pension For Informal Workers, Hikes Tax-Free Gratuity to Rs 30 Lakh

New Delhi: Finance Minister Piyush Goyal Friday announced launch of Pradhan Mantri Shram Yogi Mandhan (PMSYM) scheme to provide unorganised workers an assured monthly pension of Rs 3,000 after 60 years of age. The scheme will attract matching contribution of Rs 100 per month from government as well as from workers. Besides, pension scheme for unorganised workers, Goyal also announced hiking of tax free gratuity to Rs 30 lakh from existing Rs 20 lakh for employees having service of more than five years. “We are launching Pradhan Mantri Shram Yogi…

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Budget 2019: 12 Crore Farmers to Get Rs 500 Per Month Directly in Bank Accounts

Budget 2019: 12 Crore Farmers to Get Rs 500 Per Month Directly in Bank Accounts

New Delhi: Finance Minister Piyush Goyal in his budget speech today announced the plan of the government to provide an assisted income support to small and marginal farmers under the scheme Pradhan Mantri Kisan Samman Nidhi (PMKISAN). Under the scheme a direct transfer of Rs 6,000 per year will be made to the bank accounts of farmers owning less than two hectares of land, Goyal told the parliament today. “Farmers earlier did not get full cost for their produce. Farmers income has reduced over the years. Income support to farmers…

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