Karnataka government plans to link RTCs with Aadhaar card, says Revenue Minister
Belagavi: In an effort to provide a permanent identification for small and marginal farmers and prevent land-related fraud, Karnataka Revenue Minister Krishna Byre Gowda announced the government's plan to link the Records of Rights, Tenancy, and Crops (RTC) with farmers' Aadhaar numbers. The move aims to streamline the disbursal of relief measures and enhance the accuracy of ownership records.
During a debate on drought in the Karnataka Assembly, Gowda highlighted the disparity between Central government data, which indicates 44% of farmers as small and marginal, and the state's estimate of 70%. He urged the Central government to calculate drought compensation based on the state's data on small and marginal farmers.
Explaining the benefits of linking RTC with Aadhaar, Gowda emphasized the importance of preventing land-related fraud and ensuring certainty of ownership. The RTC contains crucial information, including landowner details, land area, soil type, nature of possession, encumbrance, and crops grown.
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Gowda also announced plans for 'end-to-end automation' in the disbursal of compensation to farmers. The new system aims to minimize irregularities by directly disbursing funds to beneficiaries' accounts without manual intervention. The automation will commence in Challakere taluk, starting with the disbursement of the first installment of Rs 2,000 as crop loss compensation.
Expressing criticism of the Central government's response to the drought situation, Gowda stated that Karnataka had not received National Disaster Response Fund (NDRF) funds and highlighted the lack of response to letters seeking appointments for discussions on the matter. Despite the challenges, the state government has undertaken efforts, including surveys in vulnerable villages and releasing Rs 900 crore to deputy commissioners of affected districts.
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Rupee settles 1 paisa higher to close at 94.15 against US dollar
Mumbai (PTI): The rupee settled with gains of just one paisa to close at 94.15 against the US dollar on Monday, as rising global uncertainty, escalating tensions in West Asia and soaring crude oil prices weighed on investor sentiments.
Forex traders said the INR/USD pair pared its initial losses, but the overall bias remains negative as FII sell-off and elevated crude oil prices restricted the gains for the local unit.
At the interbank foreign exchange market, the rupee opened at 94.25 against the US dollar, and touched an intraday high of 94.11 and a low of 94.28 against the greenback during the day.
At the end of Monday's trading session, the rupee was quoted at 94.15, registering a gain of just 1 paisa over its previous close.
On Friday, the rupee extended its losing streak for the fifth day in a row, depreciating 15 paise to close at 94.16 against the US dollar.
"The rupee snapped a five-session losing streak, rebounding in tandem with a rally across regional currencies. However, the mood remains apprehensive as the market braces for a potential RBI intervention around 94.30 and higher crude oil prices," said Dilip Parmar – Senior Research Analyst, HDFC Securities.
On the charts, the USDINR pair has reclaimed its upward momentum, carving out a classic bullish structure of higher highs and lows on the daily time frame, he said, adding that for the coming sessions, 93.80 serves as a support, with 94.40 acting as the primary hurdle.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent at 98.32.
Brent crude, the global oil benchmark, was trading higher by 2.36 per cent at USD 107.82 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 639.42 points to settle at 77,303.63, while the Nifty surged 194.75 points to 24,092.70.
Foreign Institutional Investors offloaded equities worth Rs 1,151.48 crore on Monday, according to exchange data.
Meanwhile, India's forex reserves jumped by USD 2.362 billion to USD 703.308 billion during the week ended April 17, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the forex kitty had increased by USD 3.825 billion to USD 700.946 billion.
