1. Rural inflation at lower level in states with more Jan Dhan accounts: Report

Rural inflation at lower level in states with more Jan Dhan accounts: Report

The states with more number of Pradhan Mantri Jan Dhan Accounts have witnessed rural inflation at lower levels, according to a report.

By: | New Delhi | Updated: October 13, 2017 12:03 AM
Pradhan Mantri Jan Dhan Accounts, Jan Dhan, demonetisation, India Nearly 60 percent of Jan Dhan accounts have been opened in rural areas alone. (PTI)

The states with more number of Pradhan Mantri Jan Dhan Accounts have witnessed rural inflation at lower levels, according to a report. Since demonetisation, Jan Dhan accounts witnessed a steep growth and to date more than 30 crore accounts have been opened.

Top ten states accounted for 23 crore accounts (75 percent) with Uttar Pradesh topping the list at 4.7 crore accounts, followed by Bihar (3.2 crore) and West Bengal (2.9 crore).

Nearly 60 percent of Jan Dhan accounts have been opened in rural areas alone.

“The data shows that the states where more number of Jan Dhan accounts opened, the rural inflation is at lower level. This indicates that formalisation of economy has happened,” an SBI research report Ecowrap said.

There is both statistically significant and economically meaningful drop in consumption of intoxicants such as alcohol and tobacco products in states where more PMJDY accounts opened, the report said.

“This could be because of Jan Dhan-Aadhaar-Mobile (JAM) Trinity which has helped in better channelising government subsidies and helped in curbing the unproductive expenditure such as alcohol and tobacco expenses in rural areas,” the report said.

There is also increase in household medical expenditure in more exposed regions like Bihar, West Bengal , Maharashtra and Rajasthan, among others, since October 2016 due to changing lifestyles and increased demand for medical services, the report said.

The Consumer Price Index (CPI) or retail inflation stood at 3.28 per cent in September as against 4.39 per cent in September 2016.

The report expects CPI inflation to remain sub-4 per cent till December 2017 and remain sub-4.5 per cent thereafter this fiscal.

  1. R
    Ramesh Narendrarai
    Oct 19, 2017 at 4:38 pm
    Quite encouraging ! I had no doubt that this would happen. Glad to see some evidence so soon !
    Reply
    1. R
      Reader
      Oct 19, 2017 at 10:55 am
      A centralized and inter-linked biometric database like Aadhaar will lead to profiling and self-censorship, endangering freedom. Personal data gathered under the Aadhaar program is prone to misuse and surveillance. Aadhaar project has created a vulnerability to identi-ty fraud, even identi-ty theft. Easy harvesting of biometrics traits and publicly-available Aadhaar numbers increase the risk of impersonation, especially online and banking fraud. Centralized databases can be hacked. Biometrics can be cloned, copied and reused. Thus, BIOMETRICS CAN BE FAKED. High-resolution cameras can capture your fingerprints and iris information from a distance. Every eye hospital will have iris images of its patients. So another person can clone your fingerprints and iris images without your knowledge, and the same can be used for authentication. If the Aadhaar scheme is NOT STOPPED by the Supreme Court, the biometric features of Indians will soon be cloned, misused, and even traded.
      Reply
      1. R
        Reader
        Oct 19, 2017 at 10:55 am
        UK’s Biometric ID Database was dismantled. Why the United Kingdom's biometrics-linked National Identi-ty Card project to create a centralized register of sensitive information about residents similar to Aadhaar was scrapped in 2010?? The reasons were the massive threat posed to the privacy of people, the possibility of a surveillance state, the dangers of maintaining such a huge centralized repository of personal information, and the purposes it could be used for, and the dangers of such a centralized database being hacked. The other reasons were the unreliability of such a large-scale biometric verification processes, and the ethics of using biometric identification.
        Reply
        1. R
          Reader
          Oct 19, 2017 at 10:54 am
          The US Social Security Number (SSN) card has NO BIOMETRIC DETAILS, no photograph, no physical description and no birth date. All it does is confirm that a particular number has been issued to a particular name. Instead, a driving license or state ID card is used as an identification for adults. The US government DOES NOT collect the biometric details of its own citizens for the purpose of issuing Social Security Number. The US collects the fingerprints of only those citizens who are involved in any criminal activity (it has nothing to do with SSN), and the citizens of other countries who come to the US.
          Reply

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