TMSEp565: Extension of PMGKAY, Subrata Roy, primary market, PMPVTG Mission

Addressing an election rally, Prime Minister Narendra Modi on November 4 announced that the Centre will extend the Pradhan Mantri Garib Kalyan Anna Yojana, or PMGKAY, scheme for the next five years. The scheme was launched in 2020 to provide essential food grains to the vulnerable sections of society during the Covid-19 pandemic. The announcement has triggered discussions about both the potential benefits and economic impacts. What are the financial implications of the extension of the scheme?

The extension of the Pradhan Mantri Garib Kalyan Anna Yojana is a positive move towards ensuring food security among the poor. But, the timing of the announcement is being seen as an attempt to reap political benefits ahead of the Chhattisgarh assembly election. In a separate development, Sahara Group Chief Subrata Roy, passed away on Tuesday at the age of 75. Roy’s legacy is marked by a journey of humble beginnings in 1978 to the establishment of Sahara India Pariwar. Throughout his career, he faced numerous regulatory challenges and legal disputes related to his group firms.

An undistributed fund of 25,000 crore rupees is currently held by the capital markets regulator Sebi, which was deposited by Sahara Group for refund to investors. Meanwhile, the Indian primary market has defied turbulence in the secondary equity market this year with a record number of IPOs and strong investor demand. As we begin Samvat 2080, will the IPO market continue to dazzle? 

Prime Minister Narendra Modi will unveil a government scheme worth 24,000 crore rupees for the development of Particularly Vulnerable Tribal Groups on Wednesday. He is on a two-day visit to Jharkhand and will launch the Pradhan Mantri PVTG Development Mission on the birth anniversary of tribal icon Birsa Munda. But what is this scheme? Listen to this episode of the podcast for answers.