OECD deputy head pats India’s back for cash transfer scheme, says nation should also set goals beyond GDP
Trithesh Nandan | January 30, 2013
The Paris-based think tank, Organisation for Economic Cooperation and Development (OECD), has praised India for rolling out its ambitious scheme, direct cash transfer, from January 1, 2013.
“The cash transfer scheme is a right idea…It can do several things better. The programme has been successful in many Latin American countries,” said OECD deputy secretary general Richard Boucher on Wednesday at a lecture organised by Delhi-based think tank Observer Research Foundation (ORF). Termed as ‘game changer’ by the policymakers, the direct cash transfer scheme, now known as direct benefits transfer scheme, was rolled out in 20 districts of the country earlier this month. In the next two months, the government plans to roll out in another 23 districts.
However, Boucher had a word of advice for the government. “The government should target social support schemes. The cash transfer scheme should be carefully designed so that it helps towards welfare of the families,” said Boucher who also served in the US administration as the assistant secretary of state for south and central Asia between 2006 and 2009.
Commenting on current state of economy, he said that India needs to look at goals beyond GDP. “There are new challenges as the international economy outlook seems to be very hesitant. There is widening income gaps. So in that case policy needs to be revised. We have to set new goals beyond the GDP,” he said. The OECD, a group of developed nations mostly, is looking forward to working with India for promoting more inclusive growth.
“India’s growth has weakened. In such an environment, India’s policy should be attractive to domestic as well as foreign investors. They have to also know that environment is conducive,” he added.
Prime minister Narendra Modi celebrated three-year of his government on May 26 by inaugurating Dhola-Sadiya bridge over the Brahmaputra river in Assam’s Tinsukia district. It is the longest bridge in India, which runs 9.15 km from end to end and connects Assam with Arunachal Pradesh.
IndianOil posted a net profit of Rs 19,106 crore for 2016-17 fiscal as compared to a profit of Rs 11,242 crore in the last fiscal. The income from operations for the financial year 2016-17 was Rs 4,45,373 crore as compared to Rs 4,06,828 crore in the previous fiscal. IndianOil`s income from
Hindustan Aeronautics Limited (HAL) carried out first flight of light utility helicopter (LUH)-PT-2 on May 22 at its Bengaluru-based facility. The flight duration was about 22 minutes and pilots reported nil snag, HAL said. “These maiden flights of indig
Narendra Modi is like Greek mythology’s King Midas: whatever he touches turns into gold. Most people in this country are left dazzled by his ability to make dramatic announcements with a statuesque flourish. The past three years of the Modi government have left the
Bharat Heavy Electricals Limited (BHEL) has added another feather to its cap by successfully commissioning another 270 MW thermal unit at RattanIndia Nasik Power Limited’s 5x270 MW thermal power project at Sinnar (Nasik) in Maharashtra. This is the fourth unit to be c
Chaudhary Birender Singh, minister for steel, said that the Indian steel industry is at the cusp of a significant milestone by becoming the second largest stainless steel producer in the world, leaving behind Japan. He said that the steel sector is only an example of all-round development in India. The c