-Livemint.com The economy is recuperating faster than anticipated, the RBI chief said The Reserve Bank expects GDP to contract 7.5% this fiscal, said central bank chief Shaktikanta Das while announcing monetary policy committee decision to keep interest rate unchanged. This is an upgrade from the central bank's earlier forecast of 9.5% contraction in its October review. The economy is recuperating faster than anticipated, the RBI chief said, adding that the recovery in...
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Retail inflation for farm workers, rural labourers eases marginally in Aug
-PTI/ The Hindu Business Line Retail inflation for farm workers and rural labourers cooled down to 6.32 per cent and 6.28 per cent, respectively, in August compared to the year ago period mainly due to the softening of prices of some food items. Point-to-point rate of inflation based on the CPI-AL (Consumer Price Index-Agricultural Labourers) and CPI-RL (Consumer Price Index-Rural Labourers) was 6.39 per cent and 6.23 per cent respectively in August...
More »An agriculture-led revival as flawed claim -R Ramakumar
-The Hindu The crisis in agriculture demands that the government announce a strong fiscal stimulus for the rural economy A rather confident statement heard in the midst of India’s COVID-19-induced economic slowdown is this: “Agriculture will lead India’s economic revival”. But how valid is this claim put forward by government spokespersons and some observers? Four major arguments are offered. First, India’s food grain production in 2019-20 was 3.7% higher than in 2018-19. The...
More »MIS data on person-days of work demanded must be made available along with person-days of employment provided under MGNREGA, ask social activists
-First MGNREGA tracker by Peoples' Action for Employment Guarantee (PAEG), released on 13th July, 2020 A note has been prepared by the Peoples' Action for Employment Guarantee (PAEG) that brings to you the latest developments, updates, and figures on the implementation of MGNREGA across the country till 9th July, 2020. Given the significant role that MGNREGA is playing in the lives and livelihoods of rural workers, PAEG intends to keep a...
More »Can raising the approved labour budget from 280.76 crore person-days to 306.6 crore person-days help the unskilled returnee migrants who prefer MGNREGA to Garib Kalyan Rojgar Abhiyaan?
Although social activists and concerned economists demanded at least Rs. 1 lakh crore to be earmarked in favour of the Mahatma Gandhi Rural Employment Guarantee Scheme (MGNREGS), the Finance Minister in her budget speech on 1st February allocated only Rs.61,500 crore to it for the financial year 2020-21. As compared to the fund spent on MGNREGA in 2019-20 (i.e. revised estimate of Rs.71,001.81 crore), the amount set aside for the...
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