Latest news with #Mudra
Time of India
18 hours ago
- Politics
- Time of India
How Canada, Russia, EU figure in UPBJP's campaign on 11 years of Modi govt
Lucknow: If medical treatment of over nine crore people under Ayushman scheme was more than twice the population of Canada, the construction of 12 crore toilets under Swachh Bharat Abhiyan surpassed the total population of Canada and Italy taken together. Likewise, the laying of more than 42 lakh km of optical fibre in the country was almost 11 times the distance between earth and moon. That's how the UP BJP has portrayed the scale of welfare measures and developmental initiatives rolled out during the 11 years of Narendra Modi government. The depictions came through social media posts even as the saffron outfit geared up to celebrate 11 years of PM Narendra Modi in office. The comparisons were seen as BJP's bid to simplify the figure and create relatability for people by comparing with a known, developed nation. This is especially true in case of construction of toilets under Swachh Bharat Abhiyan which underlined the massive scale of sanitation efforts, crucial for rural health and dignity—especially for women. Similarly, the metaphor vis-à-vis optical fibre, a senior BJP leader said, was meant to emphasize the depth of digital connectivity achieved even in remote areas, tying into the broader 'Digital India' vision. This is not all. The number of loans disbursed under Mudra scheme – 52.5 crore – is shown as more than the total population of US, Russia and Australia taken together. "Naya Bharat! Abhutpurva Scale! (New India! Unprecedented scale)" the party mentioned in one of the posts. Analysts said that by comparing Mudra loan beneficiaries to entire nations' populations, the BJP sought to underscore how deeply and widely its economic policies managed to penetrate. It tends to give a sense that almost every third Indian has been touched by the scheme—a powerful narrative to the informal sector, small traders, and aspiring entrepreneurs.
Time of India
3 days ago
- Business
- Time of India
Vizianagaram unveils Rs 13K crore credit plan for FY 2025-26
Visakhapatnam: Vizianagaram district collector Dr BR Ambedkar released the annual credit plan amounting to Rs 13,444 crore for the 2025-26 financial year. The collector said that this year's plan has been increased by 19.2% compared to the previous year. A district-level bankers' meeting was held at the collectorate. Speaking on this occasion, Ambedkar said that Rs 8,025 crore has been allocated for agriculture in this year's credit plan. Under the micro, small, and medium enterprises (MSME) division, Rs 1,843 crore had been allocated for Mudra, Startup India, and Stand Up India loans. For the education and housing sectors, Rs 282 crore had been allocated. The collector urged bankers to come forward to provide 100% loans according to the targets. "We are working with the goal of disbursing Rs 140 crore as crop loans this year. Measures have been taken to increase paddy cultivation in this Kharif season. And since rains have already started, farmers should be prepared in advance for the crops. There is a high chance of storms in November, so plans should be made to complete paddy harvesting by October. For this, bankers should sanction loans by July. There is a need to expedite loan disbursements for applications received under the PM Vishwakarma scheme. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Преносим лазерен заваръчен пистолет, 50% отстъпка в нов магазин HEO Купете сега Undo So far, 86,386 applications have been received under this scheme, and after stage III verification, 6,182 applications have been approved. Among these, 5,057 beneficiaries have completed basic skill training. Out of 3,805 applications sent to banks, loans amounting to Rs 6.86 crore have been sanctioned for 1,080 applicants, and loans for the remaining applicants will be sped up," said the collector. Ambedkar instructed officials of various departments to ensure loans are provided to beneficiaries through schemes such as PM Suryaghar, Mudra loans, Stand Up India, MEPMA, DRDA, the Minority Corporation, and others. For those who have already received loans, field-level inspections should be conducted to verify what types of units have been established.
Yahoo
4 days ago
- Business
- Yahoo
Kyiv outraged by Europe's decision to compensate investors with Russian assets
Ukrainian authorities have strongly criticised the decision to transfer part of Russia's frozen assets in Europe to Western investors, stating it weakens the EU's stance in confronting Moscow. Source: Reuters Details: Last month, the Belgian company Euroclear transferred €3 billion (US$3.4 billion) previously belonging to Russian investors to compensate Western companies whose assets were confiscated by Russia. This move alarmed Kyiv, which said such actions set a dangerous precedent and undermine Europe's determination in its confrontation with Russia. "If private investors are compensated before the victims of war, it won't be justice," said Iryna Mudra, Deputy Head of the Office of the President of Ukraine. She stressed that international law requires full reparations from the aggressor to the victims of war, not to companies that "entered a high-risk jurisdiction". The Euroclear decision raises concerns amid growing Western fatigue over support for Ukraine. Meanwhile, the frozen assets of the Russian Central Bank – most of which are held by Euroclear – remain a key leverage tool against Moscow. Ukraine insists these assets must be used for reconstruction and defence of the country. "If it is returned to Russia, it will be converted into tanks, missiles, drones, training of new troops," Mudra said. European leaders are expected to extend sanctions against Russia at the June summit. However, there are fears that some countries, including Hungary, might attempt to block the decision. Support Ukrainska Pravda on Patreon!
Yahoo
5 days ago
- Business
- Yahoo
Exclusive-Ukraine hits out at Europe's payout from frozen Russian cash
By Tom Balmforth and John O'Donnell KYIV/BRUSSELS (Reuters) -Ukraine's government has criticised a decision to take billions of euros of Russian wealth frozen in Europe and hand it to Western investors, warning that it weakened Europe's stand against Moscow. The criticism follows a move last month by Belgium's Euroclear to take 3 billion euros ($3.4 billion) of Russian investor cash held at the clearing firm to pay Westerners who lost out when Moscow seized their money held in Russia. Now Ukraine has warned that it sends a wrong signal and threatens to weaken Europe's hand when dealing with Russia, while it debates using the entire $300 billion of Russian wealth stranded in Europe to rebuild and defend the battered country. "If private investors are compensated before the victims of war, it won't be justice," said Iryna Mudra, a senior official in Ukrainian President Volodymyr Zelenskiy's office, in Kyiv's first public comments on the move. "It creates a perception of inconsistency, of Europe wavering in its resolve," Mudra, a deputy head of Ukraine's presidential administration, told Reuters. "International law requires that the aggressor is to make full reparation to the victim and not to investors who ... entered a high-risk jurisdiction," said Mudra, who is in charge of legal affairs in Zelenskiy's administration. The criticism comes at a critical time for the Western alliance backing Kyiv, with U.S. President Donald Trump's administration distancing itself from Europe and casting doubt over its commitment to Ukraine's defence and Russian sanctions. Mudra, one of a small circle of officials that set policy, also stressed the importance of maintaining control of the frozen Russian assets, which chiefly belong to its central bank with the majority held at Euroclear. The central bank assets were frozen at the outset of war in the single most powerful sanction directed at Russia over its full-scale invasion of Ukraine, a penalty that is deeply resented in Moscow. Euroclear in March gained clearance from Belgium, its principal legal authority, to make the payout, people familiar with the matter have told Reuters, after the European Union changed its sanctions regime last year to make this possible. A spokesperson for the Belgian government said: "This is not a Belgian decision but the application of a European regulation decided unanimously by the member states." Euroclear has emphasised that it only implements sanctions and does not take decisions about lifting them. 'MIND BOGGLING' Three Russian sources recently told Reuters that Russian President Vladimir Putin's conditions for ending the war include the resolution of the frozen assets issue. Ukraine, meanwhile, is campaigning fiercely against any return of the money to Moscow. Euroclear alone held 195 billion euros of cash in March - mainly Russian central bank funds, with some belonging to Russian investors. "If it is returned to Russia, it will be converted into tanks, missiles, drones, training of new troops," said Ukraine's Mudra. "The world ... must demonstrate that unlawful war brings irreversible financial consequences." Some see the frozen Russian wealth as a lifeline for Kyiv. In the past, the West has engineered loans and payments to Ukraine from the interest on the stranded Russian stockpile, which Putin denounced as theft. Ukrainian officials fear the Euroclear payout, even though it does not affect the central bank money, could undermine their efforts to secure an agreement on using the wider pool of Russian assets to help their country. Mykola Yurlov, an official at Ukraine's Ministry of Foreign Affairs, said the payout set a bad precedent, while Kira Rudik, a Ukrainian parliamentarian, was also critical. "Western companies were operating in Russia at their own risk. Why are these companies basically asking their societies to compensate for this risk?" Rudik told Reuters. "We need this money to rebuild and defend Ukraine." Last month's move also drew criticism abroad. "It is mind boggling that the priority is to reimburse corporate interests rather than spend the money defending Ukraine," said Jacob Kirkegaard, a sanctions expert with the Peterson Institute for International Economics, a Washington-based think tank. While the payout to investors left frozen Russian central bank reserves untouched, it made a dent in the stockpile of Russian wealth that gives the EU leverage over Moscow. More importantly for critics, it sets a worrying precedent. European Union leaders are expected to renew sanctions, including a freeze of Russian assets, at a summit meeting in June, although they could yet face an attempt by Hungary to derail those efforts. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Exclusive-Ukraine hits out at Europe's payout from frozen Russian cash
By Tom Balmforth and John O'Donnell KYIV/BRUSSELS (Reuters) -Ukraine's government has criticised a decision to take billions of euros of Russian wealth frozen in Europe and hand it to Western investors, warning that it weakened Europe's stand against Moscow. The criticism follows a move last month by Belgium's Euroclear to take 3 billion euros ($3.4 billion) of Russian investor cash held at the clearing firm to pay Westerners who lost out when Moscow seized their money held in Russia. Now Ukraine has warned that it sends a wrong signal and threatens to weaken Europe's hand when dealing with Russia, while it debates using the entire $300 billion of Russian wealth stranded in Europe to rebuild and defend the battered country. "If private investors are compensated before the victims of war, it won't be justice," said Iryna Mudra, a senior official in Ukrainian President Volodymyr Zelenskiy's office, in Kyiv's first public comments on the move. "It creates a perception of inconsistency, of Europe wavering in its resolve," Mudra, a deputy head of Ukraine's presidential administration, told Reuters. "International law requires that the aggressor is to make full reparation to the victim and not to investors who ... entered a high-risk jurisdiction," said Mudra, who is in charge of legal affairs in Zelenskiy's administration. The criticism comes at a critical time for the Western alliance backing Kyiv, with U.S. President Donald Trump's administration distancing itself from Europe and casting doubt over its commitment to Ukraine's defence and Russian sanctions. Mudra, one of a small circle of officials that set policy, also stressed the importance of maintaining control of the frozen Russian assets, which chiefly belong to its central bank with the majority held at Euroclear. The central bank assets were frozen at the outset of war in the single most powerful sanction directed at Russia over its full-scale invasion of Ukraine, a penalty that is deeply resented in Moscow. Euroclear in March gained clearance from Belgium, its principal legal authority, to make the payout, people familiar with the matter have told Reuters, after the European Union changed its sanctions regime last year to make this possible. A spokesperson for the Belgian government said: "This is not a Belgian decision but the application of a European regulation decided unanimously by the member states." Euroclear has emphasised that it only implements sanctions and does not take decisions about lifting them. 'MIND BOGGLING' Three Russian sources recently told Reuters that Russian President Vladimir Putin's conditions for ending the war include the resolution of the frozen assets issue. Ukraine, meanwhile, is campaigning fiercely against any return of the money to Moscow. Euroclear alone held 195 billion euros of cash in March - mainly Russian central bank funds, with some belonging to Russian investors. "If it is returned to Russia, it will be converted into tanks, missiles, drones, training of new troops," said Ukraine's Mudra. "The world ... must demonstrate that unlawful war brings irreversible financial consequences." Some see the frozen Russian wealth as a lifeline for Kyiv. In the past, the West has engineered loans and payments to Ukraine from the interest on the stranded Russian stockpile, which Putin denounced as theft. Ukrainian officials fear the Euroclear payout, even though it does not affect the central bank money, could undermine their efforts to secure an agreement on using the wider pool of Russian assets to help their country. Mykola Yurlov, an official at Ukraine's Ministry of Foreign Affairs, said the payout set a bad precedent, while Kira Rudik, a Ukrainian parliamentarian, was also critical. "Western companies were operating in Russia at their own risk. Why are these companies basically asking their societies to compensate for this risk?" Rudik told Reuters. "We need this money to rebuild and defend Ukraine." Last month's move also drew criticism abroad. "It is mind boggling that the priority is to reimburse corporate interests rather than spend the money defending Ukraine," said Jacob Kirkegaard, a sanctions expert with the Peterson Institute for International Economics, a Washington-based think tank. While the payout to investors left frozen Russian central bank reserves untouched, it made a dent in the stockpile of Russian wealth that gives the EU leverage over Moscow. More importantly for critics, it sets a worrying precedent. European Union leaders are expected to renew sanctions, including a freeze of Russian assets, at a summit meeting in June, although they could yet face an attempt by Hungary to derail those efforts.
