-The Hindu Finance Minister Nirmala Sitharaman on Thursday announced a Rs. 1.70 lakh crore package which is likely to benefit 80 crore people. In her second media conference in a week, Ms. Sitharaman announced a slew of welfare decisions as the nation is under lockdown due to COVID-19 pandemic. Here are the highlights from her speech: * The Finance Minister announced ₹1.70 lakh crore package Pradhan Mantri Gareeb Kalyan Yojana, targetting 80 crore people. *...
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Give basic income of Rs 4,260 to all individuals in informal sector for 6 months: INBI -Tina Edwin
-The Hindu Business Line INBI has said that emergency basic income should be completely unconditional Close on the heels of the United States (US) and the United Kingdom (UK) announcing measures to protect incomes of vulnerable households through Cash Transfers and other fiscal measures, the Indian Network for Basic Income (INBI), an advocacy group working in the area of basic income transfers, has asked the Central Government to consider an emergency basic...
More »With no contracts, casual workers may be worst hit -Abhishek Jha
-Hindustan Times According to data from the Periodic Labour Force Survey (PLFS) conducted in 2017-18, workers engaged in so-called casual work – their wages were based on daily or periodic renewal of a work contract – form a quarter of the total workforce. The Uttar Pradesh and Maharashtra governments on Tuesday took steps to protect the livelihoods of daily wage earners. While the Maharashtra government has urged employers to pay daily wagers...
More »Move to Cash Transfers will lead to savings, put agriculture on sustainable growth path -Ashok Gulati
-The Indian Express All such investments will go a long way to augment farmers’ incomes in a sustainable manner. Else, I am afraid, much of the talk in the Union budget for agri-reforms will remain mere rhetoric. Although the Union budget is basically an accounting exercise of revenues and expenditures for the coming year, economy-watchers anxiously wait for the finance minister to announce major economic reforms. In that sense, the budget of...
More »Why farmers don't like direct Cash Transfers -Harish Damodaran
-The Indian Express The main reason for rejecting the DCT (as opposed to DBT) option was the belief that paying market price for fertilisers upfront would result in additional financial burden. More than three-fourths of Indian farmers like the new system of fertiliser subsidy linked to sales made to them by retailers being registered on point-of-sale (PoS) machines. This so-called direct benefit transfer (DBT) system, wherein the subsidy to fertiliser companies...
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