Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
January 19, Friday 2018 8:56 PM       

       HEADLINES: Why we need these MPs to talk only in channels, asks K Surendran                                              B Sandhya removed as ADGP, South                                              Was son killed over property dispute? Police unwilling to accept Jaya's statement                                              CBI will probe Sreejiv’s death, order passed                                              Actress attack case: No action on Dileep’s complaint on charge sheet leak                                              Fire breaks out in Mumbai's Navrang Studio                                              Solution to SC judges’ row likely on Monday                                              EC has never touched this low: AAP                                              Hafiz Saeed should be prosecuted: US                                              India should not comment on Chinese construction in Doklam: Beijing                                              Pak-Iran to resume rail services                                              Kulbhushan Jadhav abducted from Iran: Baloch activist                                              ICC U-19 WC: India thrash Zimbabwe to top Group B                                              We will definitely try to get Ashwin back in CSK: Dhoni                                              AIFF U-16 team departs for exposure trip to Dubai                                              Kaumudi Facebook
       BUSINESS Next Article: Cong hits out at centre over petrol prices  
       Aadhaar law likely to pass test of constitutionality: Jaitley
 
         Posted on :23:49:57 Sep 13, 2017
   
A A
       Last edited on:23:49:57 Sep 13, 2017
         Tags: Aadhaar law likely to pass test of constitut
 
New Delhi: Finance Minister Arun Jaitley Wednesday exuded confidence that Aadhaar law will pass the test of constitutionality, saying the legislation has adequate safeguards for data protection.
 
Jaitley's comments at a conclave on financial inclusion organised by United Nations here come amid a legal challenge mounted in the Supreme Court against making the biometric identification number, Aadhaar, mandatory for government schemes, including its linking to income tax PAN. The next date of hearing is in November.
 
The Finance Minister said Aadhaar was an evolving idea under the previous UPA regime and it did not have legislative backing.
 
BJP-led NDA gave it a legislative cover with iron wall to ensure data protection and privacy, he said.
 
"...a legislation was necessary and because of evolving debate the confidentiality of the data and (the need) to build some iron wall around the data itself. The (Aadhaar) legislation has been passed and I am sure it will stand the test of constitutionality," he said.
 
Earlier last month, a nine-judge Constitution bench of the apex court had declared the Right to Privacy as a fundamental right saying it is protected as an intrinsic part of the right to life and personal liberty under Article 21 and as a part of the freedom guaranteed by Part III of the Constitution.
 
Jaitley further said that the Supreme Court in its recent judgement has talked about reasonable restrictions while upholding the idea of privacy as an important constitutional guarantee under the Article 21 of the Constitution.
 
Citing some of the conditions on privacy, he said: "They have to be by the law, they have to be obviously reasonable and some of illustrative restraints not exhaustive are in the larger interest of national security or for the purposes of detection of crime or for the purpose of dissemination of social benefits.
 
"I think the third criteria is very consciously inserted because that is the principle purpose for which this was intended to be used and that is where this interplay of over a billion Aadhaar number over a billion bank accounts and mobile phones itself has an important role," he said.
 
Pointing out that untargetted subsidies result in wastage of resources, he said once you are able to create identity network then you make sure the social benefits must reach those segments of population for whom it is specifically targeted as resources of states are limited.
 
Speaking about financial inclusion, Jaitley said as many as 30 crore families have got bank accounts since the launch of India's biggest ever bank account opening drive, Jan Dhan Yojana three years ago.
 
About 42 per cent of households were unbanked before the scheme was launched, which aims to give every household access to banking facilities by offering them zero-balance accounts across all commercial banks.
 
Over the period of three years, he said, the number of zero-balance accounts has reduced from 77 per cent to 20 per cent and even these would become operational once the direct benefit transfer is expanded.
 
In December 2014, four months after the scheme was launched, 76.81 per cent accounts had zero balance. Now, 99.99 per cent of households have at least one bank account, thanks to the Jan Dhan Yojana.
 
PMJDY, launched on August 27, 2014 by Prime Minister Narendra Modi, was aimed at providing financial services to the poor. These included opening bank accounts for the poor, giving them electronic means of payment (via RuPay cards), and placing them in a position to avail themselves of credit and insurance.
 
In addition to financial inclusion, Jaitley said, the government has taken steps to provide security to the poor via life insurance under the Pradhan Mantra Jeevan Jyoti Bima Yojana (PMJJBY) and accident insurance Pradhan Mantra Suraksha Bima Yojana (PMSBY).
 
Total enrolment was 3.6 crore under the PMJJBY and 10.96 crore under PMSBY with 40 per cent of the policy holders being women in both the schemes.
 
On Mudra Yojana, he said, 8.77 crore people have been benefited and most of the beneficiaries are women.
 
Speaking on the results of demonetisation, the Finance Minister said that it has helped in reducing the volume of cash transactions and increase in digitisation, widening the tax base and more formalisation of the economy among others.
 
Post demonetisation, there is emphasis to reduce overall quantum of cash in the economy, he said.
 
The government has succeeded in the last three years in bringing financial inclusion at the centre of its political and economic agenda, he said, adding that in times to come, policymakers will have to follow this direction and they will not be able to reverse this trend.
A A
       BUSINESS
Next Article: Cong hits out at centre over petrol prices
 
 
BUSINESS HEADLINES
Rise in demand for Yoga accessories from abroad: Expert  
Nine more cities added to Smart City Mission, total now 99  
Gold retailers hopeful of tax relief ahead of Budget  
GST Council discusses making return filing process simpler  
Banks fuel markets Bull Run; Sensex, Nifty hit new peaks  
Netanyahu meets biz leaders over power breakfast  
Budget 2018: Hardware dealers suggest simplification of filing GST returns  
SBI to raise Rs 20,000 cr for affordable housing, infra  
Rupee rebounds 16 paise to 63.88 a dollar  
Patanjali to partner with Flipkart, Amazon  
GST meeting on Jan 18, to discuss real-estate  
Patanjali won't enter into partnerships with global firms: Ramdev  
Sensex retreats from record, slips 72 pts  
RIL to invest Rs. 5K cr in West Bengal: Ambani  
Financial Institutions to ensure US TIN for pre-existing accounts is reported  
UIDAI allows face recognition for Aadhaar authentication  
What women expect from Union Budget 2018  
Aadhaar biometric lock, a lesser-known security feature  
Govt to invite fresh applications for RBI deputy guv post  
Govt mulls tax-free gratuity of up to Rs. 20 lakh: Report  
Inflation will dip in January, claims SBI  
Commerce Secretary urges policy framework to address export financing woes  
ED arrests former Andhra Bank director  
Infosys President Rajesh Murthy steps down  
IT Dept reports significant hike in prosecutions against tax evaders  
 
Do you think even today police resort to third degree torture to prove crime?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy