Two prominent leaders from Maharashtra, including a Union minister from the ruling alliance, have tried to highlight the reality of one of the state government's popular schemes -- the Mukhyamantri Majhi Ladki Bahin Yojana (MMLBY). Union Road Transport and Highways Minister Nitin Gadkari cautioned the industry last month against relying too heavily on subsidies and grants as the state government also needed funds for schemes like MMLBY.
Maharashtra Navnirman Sena chief Raj Thackeray, on the other hand, told journalists that the state's coffers would run dry after the October installment of MMLBY is issued, and the government may not have enough funds to pay salaries to its employees and officials starting in January.
He said it would have been more beneficial if the state government had focused on providing jobs instead.
Thackeray's remarks hold some weight, as the unemployment rate in Maharashtra stood moderately higher at 3.3 per cent in 2023-24 (July-June) than the national average of 3.2 per cent.
The unemployment rate in the state inched up from 3.1 per cent the previous year, while the all-India rate remained unchanged, according to the Periodic Labour Force Survey (PLFS), which is known for underestimating unemployment figures.
Taking a cue from the CM's Ladli Behna Yojana, which received a favorable response during Madhya Pradesh's Assembly elections last year, the Eknath Shinde government introduced MMLBY earlier this year.
This story is from the October 21, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 21, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Pioneer of parallel cinema dies at 90
Veteran filmmaker Shyam Benegal, who heralded the Indian parallel cinema movement in the 1970s and 1980s with films such as Ankur, Nishant and Manthan, died on Monday, his daughter Pia said. He was 90.
How tech is changing the landscape of elder care
The concluding part of the silver economy series looks at innovative apps and wearables that are empowering seniors and their families
ALGO RHYTHM AND BLUES
Can Sebi's draft rules on algorithm-based trading level the playing field between institutional and non-institutional investors?
AVOIDING MIS-SELLING BY MF DISTRIBUTORS Say no to NFOs, buy direct plans and seek advice from Sebi RIAs
The Securities and Exchange Board of India (Sebi) has implemented a new rule to curb unnecessary portfolio churn by distributors, usually done during the launch of new fund offers (NFOs) to pocket higher commissions.
Amber Enterprises posts sharpest rise in 2 mths
13% gains driven by block deal in which 1% equity changed hands
NEW LISTINGS ADD 3% TO INDIA'S MCAP IN 2024
New listings through initial public offerings (IPOs) in 2024 contributed nearly 3 per cent (₹14 trillion) to India's market capitalisation, surpassing last year's contribution of 1.4 per cent (₹5 trillion).
Weak management commentary weighs on Siemens stock
Siemens's share price has lost ground in the past few sessions following weak management commentary.
Mkts stage sharp recovery after five days of fall
Equity benchmark indices Sensex and Nifty rebounded sharply on Monday after five days of steep decline amid value buying at lower levels and a rally in global markets.
Public offers see investor rush
The five initial public offerings (IPOs) that closed on Monday attracted cumulative bids worth ₹1.4 trillion against ₹2,909 crore they were looking to raise. These offerings were subscribed between 11 and 195 times.
Zomato pips Maruti, HUL in Sensex weight
Becomes first new-age firm to join 30-share benchmark
