-The Times of India CHENNAI: Unemployment rate in the country rose to 6.9% in October, the highest in two years, according to the Centre for Monitoring Indian economy. Worse still, the labour participation rate – a measure of the proportion of adults willing to work – fell to 42.4%, the lowest since January 2016, CMIE said. “Labour participation rate fell sharply after demonetization”, from around 47-48%, “and it has still not recovered,”...
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Govt wants Rs 3.6 lakh crore from RBI, a third of its reserves, central bank says no -Sunny Verma
-The Indian Express Last Wednesday, the finance ministry said that the autonomy for the RBI “is an essential” and both the government and the RBI have to be “guided by public interest and the requirements of the Indian economy”. New Delhi: AT the heart of the RBI-government standoff is a proposal by the Finance Ministry seeking to transfer a surplus of Rs 3.6 lakh crore, more than a third of the...
More »Demonetisation: A circus, clowns and a silver bullet -James Wilson
-National Herald Two years after the disastrous demonetisation, the Prime Minister and his Finance Minister—even the fawning media— no longer speak of the ‘Demonetisation Dividend’. There has been none Two years back, on November 8, at around 8.30 pm, the Prime Minister of India, with his characteristic love for drama, unleashed on the country what he had then claimed was the one silver bullet which would eliminate the triple evils of...
More »How to save Kisan Credit Cards from becoming an easy tool for money laundering -Sanganagouda Dhawalgi
-Financial Express Recently, former RBI Governor Raghuram Rajan cautioned the government that Kisan Credit Cards (KCC) can be a potential credit risk for the economy. Recently, former RBI Governor Raghuram Rajan cautioned the government that Kisan Credit Cards (KCC) can be a potential credit risk for the economy. Rajan’s caution be that as it may, one thing is certain that today KCC has become a tool in the hands of several...
More »What has driven India's poverty reduction? -Arjun Srinivas
-Hindustan Times 55 % Indians were classified as poor by the MPI methodology in 2005-06. India halved its poverty rate in the next 10 years. In absolute terms, the number of poor fell from 630 million to 360 million during this period. New Delhi: Improved nutrition, better sanitation and increased asset ownership have halved India’s poverty rate between 2005-06 and 2015-16, according to a study by the Oxford University. In the 10-year...
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