India has potential to grow faster and plans are underway to reduce poverty and create jobs in rural areas, Finance Minister Arun Jaitley said today, even as he ruled out the country becoming totally 'cashless' immediately.
Watch a special conversation between Ronojoy Banerjee of CNBC-TV18 and Suraj Saharan of Delhivery and Manish Sabherwal of Teamlease.
While the Rs 3,000 crore MUDRA Credit Guarantee Fund (CGF) will act as hedge against default of Rs 50,000 to Rs 10 lakh loan extended to small entrepreneurs, the Rs 5,000 crore Stand Up India CGF will stand guarantee for Rs 10 lakh to Rs 1 crore loans to be provided to least 2.5 lakh SC/ST and women.
President Barack Obama said today his plan to create jobs and rebuild US highways, bridges and schools was an "insurance policy" against the slowing economy falling back into recession and challenged Republicans to explain to the American people why they are opposed to those measures.