-MoneyLife.in Responding to a question raised by Rajya Sabha MP (member of parliament) Subramanian Swamy, the finance ministry informed the parliament that Rs10,720 crore worth of old Rs1,000 and Rs500 notes did not return into circulation after demonetisation. According to the finance ministry, when demonetisation was announced on 8 November 2016, Rs15,41,793 crore worth of withdrawn notes were in circulation. The finance ministry revealed in its written reply that, after verification and...
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Government bans futures trading in seven commodities
-MoneyControl.com India has suspended futures trading in seven commodities with immediate effect in its latest move to rein in soaring inflation. The Finance Ministry has suspended trading in futures contracts of some agricultural commodities for one year to reign in inflation. Trading in seven commodities - paddy (non-basmati), wheat, chana, mustard seeds and its derivatives, soya bean and its derivatives, crude palm oil and moong - has been suspended with immediate effect, according...
More »US Inflation and India’s Economic Recovery -Prabhat Patnaik
-NetworkIdeas.org The very day, December 11, when the Indian finance ministry spuriously claimed a robust recovery in the post-pandemic Indian economy, newspapers carried news of an acceleration in the US inflation rate. The inflation rate in November 2021 over November of the preceding year had been 6.8 per cent in the US, which was higher than the corresponding rate in any month over the previous 40 years; in particular, petrol prices...
More »Rs.10,000 crore more for MGNREGA scheme -Priscilla Jebaraj
-The Hindu However, the job scheme’s balance sheets remain in the red in 24 States, UTs. The Finance Ministry has allocated additional funds of ₹10,000 crore as an interim measure for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme after it ran out of funds allocated in the budget, according to the Ministry of Rural Development (MoRD). More funds may be forthcoming based on the “assessment of demand,” added the...
More »Around 5 crore MGNREGA workers and their families will have to spend their Diwali without food & sweets due to pending wages
-Press release by Peoples' Action for Employment Guarantee dated 3rd November 2021 About 8 crore NREGA payments are pending as on November 3, 2021 according to Report 8.1.1 of the NREGA Management Information System (MIS). This means, for nearly 5 crore workers across the country this will be a Kali Diwali. Following the raging debate about NREGA funds running out with 5 months remaining, the People’s Action for Employment Guarantee (PAEG)...
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