Discover and read the best of Twitter Threads about #FinanceMinister

Most recents (9)

Engineering a City #thread
Having spent my entire childhood in #Kochi (#Cochin ), it feels criminal to not know the story of how the city came to be the #metropolis it is today. Putting together a thread to trace the journey of the city which has been so endearingly mine (1)
Part 1: The #Malabar Mud-Banks
The story of Cochin is not just about how an engineering marvel can change social fabric, but also of many tenets of #British #Colonialism in India which is often taken for granted, passed off lazily as exploitation, missing nuance (2)
As with any coastal town, the cultural and economic history of Kochi is intertwined with maritime trade routes since the time of the Early Romans and Arabs. Thanks to the #biennale , most of us would now be familiar with the term #Muzuris (3)
Read 60 tweets
Thread on #FinanceMinister's 2nd PC.
- Focus on migrant workers, street vendors, traders, small farmers
- 9 steps in total: 3 for migrant workers, 1 to sishu loan mudra, 1 for street vendors, 2 for small farmers and some more...
- overlaps with packages will exist.

#20lacCrores
- 3 crore farmers availed loans at concessional rates, with loans aggregating to Rs. 4L cr.
- Interest subvention was extended till Mar & now till 31 May 2020
- 25 lakh new kisan credit cards given to marginal farmers, totaling 25,000 cr of loans

#20LakhCrorePackage #20lakhcrore
- Liquidity support for farmers & rural economy continued in last 2 mths (#COVID19 duration); Banks have lent continuously
- Refinancing of 29,000 cr by NABARD in Mar alone
- RIDF support of 4,200 cr for rural infra
- state govts sanctioned 6700 cr to procure agri produce
Read 8 tweets
#FinanceMinister @nsitharaman on #YesBank:
*Cabinet has approved the reconstruction scheme for Yes Bank
*Interest of depositors, stable fin environment at the core of reconstruction scheme
*Key features of reconstruction plan will be available in detail as soon as notified
#FinanceMinister @nsitharaman on #YesBank:
*Yes Bank reconstruction scheme will be notified very soon
*SBI coming in at 49% at the moment
*3 year lock-in period for SBI for at least 26% of their investment
*3 year lock-in period for private investors for 75% of their investment
#FinanceMinister @nsitharaman on #YesBank:
*Moratorium on Yes Bank to be lifted within 3 days of notification of scheme
*New board to be constituted within 7 days of moratorium being lifted
*Board will have at least 2 members from SBI
Read 5 tweets
MAR 8 #CoronaVirusUpdates will begin using #CV19MD THREAD 1: New #UptotheMinute MAP SITE link below US AT 463 cases as of 8:07 AM #GrandPrincess to Dock MON at #PortOfOakland. W Oassengers still Quarantined
#SantaClara #CA cases were from #India.
tinyurl.com/uvgw782
MAR 8 #COVID19 MD THREAD 2: This is US (Can) RealTime site tinyurl.com/s5p7vl9 last update 8:07 shows 463 TOTAL WaPo MAPPING w LIST of 34 states w cases NOTE Does Not Show 66 #DiamondPrincess (Japan) cases.
MAR 8 #COVID19 MD THREAD 3: THIS is current ARCGIS MAP .. #Italy nears 6.000 and #France #Germany 1,000. #Spain 600 #UK #Switz #Neth near 300 #Sweden 200, #Canada 60 #Lebanon 28, #Russia 15 #Mexico 15 .. eg still spreading
Read 25 tweets
A tweet thread on #India's #Government #Finances
1. They are in a deep mess. The #Punjab #FinanceMinister came out of a #GSTCouncil meeting to suggest that the #UnionGovt may be close to a #SovereignDefault, because it is unable to p[ay out to the States's their share of GST.
That may be hyperbole. A sovereign default is when the Govt is so cash strapped that it is unable to service its debt. I'm not sure India is anywhere near that dire situation as yet.
But that does not mean that the Public finances are rosy. In fact they are dire in the extreme!
Read 14 tweets
#TheTalwarAmendment:
The rot afflicting PSBs had started in 1976 when the #SBIAct was amended to authorise the Govt to remove the SBI Chairman w/o citing any reason.

Prior to this, chairman couldn't be removed before completion of his term, w/o giving "sufficient ground".
1/n
This amendment to SBI Act is commonly known in banking circles as #theTalwarAmendment as it's sole purpose at that time was to remove #RKTalwar, the most illustrious chairman of #SBI, who refused to bow to a diktat of #SanjayGandhi, the most powerful politician at the time.
2/n
The complete story behind this amendment is given in a booklet "R K Talwar: Values in Leadership" by #NVaghul, the illustrious chairman of #ICICIBank, who started his career in SBI and had been mentored by none other than Talwar himself. The story briefly goes as under.
3/n
Read 18 tweets
#FinanceMinister has today unleashed the best shot so far in #Modinomics!

This is a Yug-parivartan move. Endless dimensions on which #NewIndia will be rocketing up now! 1/n
The battle on Black-money waged by @narendramodi Ji will now find a long term leash! No one was born to be a thief. High taxes motivated people to be. That motivation is diluted big time today! An honest, compliant, economic powerhouse of a #NewIndia is now enabled. 2/n
Everyone getting amazed that this Govt. is ready to earn less and spend more is totally wrong. #Modinomics magic is not yet understood. Laffer Curve clearly stands proven over 100s of years. Convexity of Tax-collection to Tax-rate is well know. 3/n
Read 9 tweets
Government, on August 13, issued a 'Scheme to provide a one-time partial credit guarantee to PSBs for purchase of pooled assets of financially sound NBFCs'. This scheme is a step in right direction towards solving the liquidity crunch that NBFCs are faced with. Thread (1/12)
It may be recalled that the Finance Minister, in her budget speech, had made an announcement to this effect. Thid scheme attempts to address temporary asset liability mismatches of NBFCs/HFCs so that they don't have to resort to distress sale owing to paucity of liquidity. 2/12
The major features of this scheme are:
A) It is a one time guarantee provided by GoI, for a period of 24 months.
B) The schemes is only applicable to PSU banks for first loss of up to 10%
C) Guarantee can be invoked if the credit rating of the pool goes to 'D' (default). 3/12
Read 16 tweets
"Apa Yang Kita Perlu Faham Mengenai Hutang Negara?"

Ditulis oleh: Ayman Rashdan Wong
(Ini adalah untaian)
#Malaysia #MalaysiaDebt #Debt #Hutang #FinanceMinister #MalaysiaBaharu #Ekonomi #GDP #Economy #EkonomiTerkini
Silakan retweet dan like
Tengok timeline penuh dengan ulasan tentang hutang negara, dari ulasan pakar hingga ulasan macam pakar hingga ulasan kalah pakar. Tangan den pun terasa gatal nak tulis, tapi memandangkan ini bulan Ramadan, jadi usahlah menimbulkan perbalahan.
Cuma, sebelum berbincang dan berdebat berkenaan hutang negara, ada beberapa konsep asas yang perlu difahami.
Read 20 tweets

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