Financial inclusion definition

Finance Secretary TV Somanathan TV Somanathan is one of the key persons behind drafting the budget. In an interaction with Shweta Punj of Moneycontrol, the finance secretary shared the thoughts  that went into drawing up the document, and nuancing between the known unknowns and unknown unknowns. Edited excerpts: Q: The economy has faced several global headwinds yet managed to stay steady. What were your priorities as you were drafting this budget? What were the three key things that you wanted to ensure? There were three key priorities. One, to act as a driver of growth at a time when global growth is slowing down, but when India is poised to recover its growth rate to its potential. That was one of the objectives, which you see reflected in a big increase in capital investment and in several other parts of the budget, which are essentially to propel growth. The second major concern was that in doing that, we wanted to be sure that we were fiscally prudent. In our … [Read more...] about It is a challenging number, the reduction to 4.5, but it is feasible. It’s difficult, but feasible

What Is a Mega Backdoor Roth 401(k) Conversion? A mega backdoor Roth 401(k) conversion is a tax-shelter strategy available to employees whose employer-sponsored 401(k) retirement plans allow them to make substantial after-tax contributions in addition to their pretax deferrals and to transfer their contributions to an employer-designated Roth 401(k). The Build Back Better Act, H.R. 5376, passed by the House of Representatives on Nov. 19, 2021, contains provisions that, if enacted, would limit the ability of high-income taxpayers to accumulate extremely high-value balances in Roth 401(k)s and would eliminate backdoor Roth conversions for high-income taxpayers after Dec. 31, 2031. As of spring 2022, the Build Back Better Act remains stalled in the Senate, and these provisions may not come to pass, at least not in their current form. But mega backdoor Roth conversions remain an important issue—and a notable route to wealth for higher-income taxpayers. Key Takeaways H.R. … [Read more...] about Mega Backdoor Roth 401(k) Conversion: Overview and FAQ

The overall budgetary allocation for the agriculture ministry was increased to an estimated Rs 1.25 lakh crore for FY24 financial year, including Rs 60,000 crore for the government's ambitious PM-KISAN scheme. Small farmers will benefit from the budget, the ministry said, adding that emphasis has been laid on promoting the agriculture sector through technology. A look at what the budget offered: The Hits Technology Push Budget 2023 was largely along the lines expected by industry players. The emphasis on technology adoption in agriculture was announced at the right time, with the creation of Centres of Excellence for Artificial Intelligence. Read More Leading industry players will partner in conducting interdisciplinary research and developing cutting-edge applications and scalable problem solutions in various areas including agriculture. This is a welcome step to leapfrog to the next level with focus on ‘Industry 4.0’. Agri Credit The proposed … [Read more...] about Budget 2023: Hits and misses in the agriculture sector

As ESG becomes the core conversation in corporate boardrooms and for the allocation of capital, it is compelling brands and enterprises to improve their sustainability performance. (Source: Shutterstock) In a bid to enable 100,000 MSMEs turn ESG compliant in the next 24 months, Bizongo, a leading vendor digitization platform with embedded financing for brands and enterprises has launched Bizongo Environmental, Social, and Governance (ESG) Scorecard. This will help bolster ESG consciousness among Indian MSMEs and larger enterprises. With this, Bizongo has also become the first B2B marketplace to offer ESG-related intelligence. Aniket Deb, Co-founder and COO, Bizongo, said, "In its essence, ESG is a framework that helps businesses build customer loyalty, attract investors, make operations sustainable, and improve financial performance. In line with this, Bizongo's ESG Scorecard will enable MSMEs on its platform assess their ESG performance and help them integrate it into their … [Read more...] about Bizongo launches ESG scorecard; aims to help one lakh MSMEs turn ESG compliant in the next 24 months

Share to Twitter Share to Linkedin The cannabis and hemp industries have been evolving more rapidly than almost any other on earth, and countless individuals, corporations and organizations are making significant contributions to its growth and success. But who are the real game-changers in this rapidly expanding sector? Look no further than the 4th annual Cannabis 50 list, compiled by MGO, a CPA and business advisory firm in the U.S., being released exclusively through this publication. The fourth iteration of this annual list recognizes the top companies, organizations and individuals who have made a positive impact on the cannabis and hemp industries in the past year. But, as the firm notes, the Cannabis 50 isn’t a competition. There are no winners or losers, only inspiring stories from the frontlines of this great movement. Diversity At The Helm This year’s list is particularly noteworthy, as it highlights an increased presence of female and … [Read more...] about MGO Names 50 Game-Changers In Cannabis, Including Diddy, Mike Tyson And More