-The Indian Express Last financial year, of the additional Rs 15,000 crore that the MoRD sought in supplementary demands, the Finance Ministry cleared only Rs 9,000 crore. Despite the Centre’s claim that this year’s MGNREGA budget is the highest ever, almost 88 per cent of the funds available for the scheme have already been exhausted, just halfway through the financial year. As of next week, only Rs 6,000 crore of the Rs...
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The spectre of deflation -Himanshu
-Livemint.com It is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth The second volume of the Economic Survey was presented on the last day of the monsoon session of Parliament on 11 August, preventing Parliament from holding a discussion on the state of the economy as outlined by the report. The second instalment,...
More »That sinking feeling -MV Rajeev Gowda & Salman Soz
-The Hindu In contrast to its pronouncements, the government’s own data suggest the economy is in a deep hole Prime Minister Narendra Modi, in his Independence Day address, spoke triumphantly about how demonetisation drove ?3 lakh crore of unaccounted money into the banking system. The Reserve Bank of India (RBI) is still counting old notes, and unaccounted money cases are ongoing. Thus, this number is at best a guesstimate, and cannot be...
More »Pan-India wage plan
-The Telegraph New Delhi: The Union cabinet today cleared a plan to introduce a pan-India minimum wage that will cover all sectors of the economy. The Labour Code on Wages Bill seeks to empower the Centre to fix a universal minimum wage for workers across the country. The new law is expected to benefit over 4 crore employees across the country. The Code will consolidate four different wage-related laws: the Minimum Wages Act,...
More »'Volume two of Eco Survey to have downloadable data' -TCA Sharad Raghavan
-The Hindu Publication is expected to be released around July 21-22 The second volume of the Economic Survey will be released during the Delhi Economic Conclave around July 21-22, according to a senior official in the Finance Ministry, who added that the volume will also for the first time include historical data in downloadable Excel files. The first volume of the Economic Survey, released a day before the Budget was presented in Parliament,...
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