"One Thing Which Worries Me...": Nobel Winner Abhijit Banerjee On Citizenship Law, National : Today Indya

"One Thing Which Worries Me...": Nobel Winner Abhijit Banerjee On Citizenship Law

National

NDTV

Nobel laureate Abhijit Banerjee said institutions that make decisions that can have "massive consequences" in people's lives should be designed with extreme care

"One Thing Which Worries Me...": Nobel Winner Abhijit Banerjee On Citizenship Law

New Delhi: Nobel laureate Abhijit Banerjee has weighed in on the controversy over the amended citizenship law that fast-tracks the process of giving citizenship to persecuted non-Muslims from three neighbouring countries. Dr Banerjee, who won the Nobel Prize for Economics with wife Esther Duflo and economist Michael Kremer last year, in a conversation with Dr Prannoy Roy says "we need to be extremely careful in designing institutions to make decisions that can have massive consequences" for people.

"I think, there are all kinds of issues there... Let me say one thing which worries me from my experience of doing field work, is that when you have somebody with an enormous amount of power, the guy who decides whether or not you will be on this list or that list... and so if he's going to say look 'I'm not sure that you're a proper citizen' and forget about religion..." Dr Banerjee said.

"Many things you could be worried about. I'm just saying that - that's one thing. If I were somebody living in a border district, I'd be petrified by that thought and even if I were - you know just the fact that somebody will come and say 'look I'm in charge of making this list I could put doubtful next to your name' - I mean after all it is a border district. Or I could not. And maybe you could pay me ten thousand rupees," the Nobel laureate said, adding, "I mean the governance challenge there is very significant."

On whether there's too much governance and the power to decide things in the hands of an individual, Dr Banerjee said, "I'm at least as worried about everything else. Just abuse of power in general seems to me... We should worry about creating structures of the state where people on one side you have so much to lose if you're not a citizen of India and no other country wants you... I think at that point creating power structures which make you so vulnerable means you are - you could be extorted in many different ways. I do think as a governance problem it's a very frightening one."

"Power to some people to take decisions that can have massive consequences for your life... We need to be extremely careful in designing institutions to make those decisions. They should not be made by kind of quick acts of parliament. That's the worry," he said.

The Citizenship (Amendment) Act for the first time makes religion the test of citizenship in India. The government says it will help minorities from three Muslim-dominated countries to get citizenship if they fled to India before 2015 because of religious persecution. Critics say it is designed to discriminate against Muslims and violates the secular principles of the constitution.

Article Original Source : https://www.ndtv.com/india-news/one-thing-which-worries-me-abhijit-banerjee...

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National Pension Scheme for traders fails to gain traction

National

livemint

• The National Pension Scheme for Traders and Self Employed Persons is a voluntary and contribution based central sector scheme

• Under the scheme, the government makes matching contribution in the subscribers' account

NEW DELHI : The National Pension Scheme for Traders and Self-Employed Persons has failed to gain traction as only about 25,000 persons have opted for the scheme as against the government's target to enrol 50 lakh by March-end.

As per government data, only 84 traders and self-employed persons from Delhi have registered for the scheme so far, while 59 persons from Kerala, 54 from Himachal Pradesh, 29 from Jammu and Kashmir and two from Goa have registered.

No one has registered for the scheme in Lakshadweep and Mizoram.

Uttar Pradesh has the highest number of registrations with 6,765 persons, followed by Andhra Pradesh (4,781), Gujarat (2,915), Maharashtra (632), Bihar (583), Rajasthan (549), Tamil Nadu (309), Madhya Pradesh (305) and West Bengal (234).

The National Pension Scheme for Traders and Self Employed Persons (Pradhan Mantri Laghu Vyapari Maan-dhan Yojana) is a voluntary and contribution based central sector scheme.

The government launched the scheme, entailing monthly minimum assured pension of ₹3,000 for the entry age group of 18-40 years after attaining the age of 60 years, with effect from July 22, 2019.

Under the scheme, the government makes matching contribution in the subscribers' account.

Commenting on the lukewarm response to the scheme, Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal said the entry age and the premium for the scheme should be raised to encourage more traders to join the scheme.

" ₹3,000 to be given after 30 years of paying premium will hardly have any value. Why have traders aged between 40 and 55 years been kept out of the scheme? The government can increase premium for this age group (40-55) instead of depriving them of the scheme's benefits. These are two big drawbacks," Khandelwal told PTI.

He said the traders' body had suggested to the government that a provident fund like provision be made whereby a fund is created out of the total tax paid by a trader throughout his/her life, out of which every trader can be paid monthly pension upon attaining the age of 60. PTI RSN CS RVK

Article Original Source : https://www.livemint.com/money/personal-finance/national-pension-scheme-for...