Of the Rs 600
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K Pramila, a 63-year-old widow, has been receiving pension for more than a decade now. Without any source of income, it is this Rs 600 a month that would help her buy essentials to get by month after month.But this month, Pramila, who had taken an auto rickshaw to get to the Post Office in
When she reached the post office, she was informed that she has to leave at least Rs 500 in the account as minimum balance. So she could take just Rs 100, of which she paid Rs 60 for the auto fare. “I went to the Post Office expecting to withdraw Rs 600 but the Post Office staff told me that I am eligible to withdraw only Rs 100 as I need to maintain a minimum balance of Rs 500 in the savings account,’’ Pramila told Bangalore Mirror.
I have not received any complaint. If anyone comes to the General Post Office and lodges a complaint, I will look into the matter
She said that he returned home with just Rs 40 after paying Rs 60 to the
She said that he returned home with just Rs 40 after paying Rs 60 to the autorickshaw driver
According to P Kalidasa Reddy, a social activist, Pramila has been staying in a rented house but the owner of the building has stopped collecting rent from her for quite a long time. “Her husband died more than a decade ago. She has to depend on relatives and neighbours to buy medicines that cost around Rs 1,000 for diabetes,’’ said Reddy.
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Lakhs of senior citizens and widows receive pension from Post Offices across the state. All of them have opened
It was the same with Dorairaj, a
Pramila receives Rs 600 as monthly pension of which she got just Rs 100 this month; She and other pensioners were left with nothing after keeping Rs 500 in the savings accounts
When contacted, the Post Master of Sivanchetti Gardens Post Office said that he merely followed the direction from the higher authorities.
However, the Deputy Chief Post Master General said that he can look into the matter if any pensioner lodges a complaint. “I have not received any complaint from the pensioners. If anyone comes to the General Post Office and lodges a complaint, I will look into the matter,’’ the Deputy Chief Post Master General said.
Meanwhile, Nagaraj M of Human Rights Social Justice Liberties Active Forum, said they would take up the issue with the Chief Post Master General. “It is not fair for the postal authorities to insist that widows and senior citizens must maintain minimum balance,’’ Nagaraj said.
While
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MORE POLLSIMF’s recent projection that Bangladesh’s nominal GDP per capita is expected to exceed India’s in 2020 created a furore. First and foremost, comparing India to Bangladesh is like comparing apples with oranges. India’s nominal GDP is $2.94 trillion, while in purchasing power parity (PPP) terms, it is $10.51 trillion. India, under the Modi government, became the 6th largest economy in 2019, overtaking France and the 5th largest, after surpassing the UK in February 2020. Comparable figures for Bangladesh are merely a GDP of $348bn and $861bn in nominal and PPP terms. Moody’s has projected 10.6% real GDP growth and a 4% retail inflation for India for FY22, in a massive thumbs up to Modinomics.
With covid-19 derailing all large economies, IMF has predicted a fall in India’s nominal GDP per capita from $2100 in 2019 to $1880 in 2020 while forecasting Bangladesh’s to rise to $1890 in 2020. What Modi’s critics do not mention is that India’s GDP in PPP terms in 2019 was 11 times greater than that of Bangladesh. IMF’s GDP per capita (in PPP terms) for India in 2020,is pegged at $6,284 compared to Bangladesh’s at $5,139. In effect, in terms of PPP per capita, despite the
India’s exports last year stood at $322bn, in terms of FOB, while imports stood at $617 billion, on CIF basis. What this implies is India’s overall annual trade (exports + imports) at $939 billion is 2.7 times higher than the entire economy of Bangladesh. India’s apparel exports are expected to touch $300 billion by 2024-25, resulting in a tripling of the country’s market share globally from 5% to 15% cent. A lion’s share (71.27%) of Bangladesh’s total exports of just $40.53 billion on the contrary is limited to only 10 countries. Again, of this $40.53 billion, $25.53 billion came from apparel goods, which means Bangladesh is in a highly precarious situation. India exports approximately 7,500 commodities to about 192 countries. According to Bangladesh Bureau of Statistics (BBS), Bangladesh is experiencing unprecedented shocks, due to covid. It is estimated that Bangladeshi RMG workers lost US$500 million in wages from March to June 2020. The Institute of Labour Studies also estimated that 1,915 garment factories were closed rendering 324,684 workers unemployed. The Modi government’s financial and socially inclusive schemes have reached out to those who need state support. As of June 2020, the Modi government released Rs 895 crore for 59.23 lakh EPFO account holder employees. The Indian government also released the first instalment of PM-KISAN (Rs 16,394 crore) and transferred it to 8.19 crore farmers. The government also disbursed Rs 20,344 crore to women
According to the Bangladesh Institute of Development Studies (BIDS), 164 million have joined as new poor in the country. In sharp contrast, over 75 million people have been lifted from poverty by the Modi government with
A recent survey conducted by the International Centre for Diarrheal Disease Research (ICDDR) in Bangladesh found that during the lockdown, 91% of sample families considered themselves to be financially unstable. On the other hand, the Modi government transferred Rs 8,488 crore into bank accounts of
In light of ample proof provided above, comparing a behemoth like India with a much smaller nation like Bangladesh is pure harakiri. Under Prime Minister
Sanju Verma (Economist, National spokesperson of BJP & Author of “Truth & Dare — The Modi Dynamic”)
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