-TheWire.in A claim of an 8.4% real GDP growth rate has little relevance even as rural India battles plummeting wage levels, depleted incomes and widespread unemployment. With the release of the GDP figures for the quarter ending September, the government machinery has been in full swing advancing the narrative that economic growth is indeed back on track. However, sorely missing from these narratives is the inconvenient factoid on the currently dismal state of...
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Share of salaried jobs saw worst fall in March qtr since June 2018 -Abhishek Jha
-Hindustan Times The headline unemployment rate in the March 2021 quarter was 9.4%. This is the lowest since the quarter ending June 2020, which coincided with the 68-day long nation-wide lockdown which was imposed on March 25, 2020. Could the Covid-19 pandemic have left long-term scars on India’s labour markets? The findings of the January-March round of the Periodic Labour Force Survey (PLFS), released on November 30, by the National Statistical Office...
More »Govt. Squeezes Spending, Even Though Tax Collections Have Increased -Subodh Varma
-Newsclick.in Modi government has restrained spending of various ministries including education, social justice, environment and others. Continuing with its policy of cutting down spending, the central government has spent only 47% of the budgeted amount by the end of September 2021. That’s half of the financial year 2021-22 gone. This is a new low (see graph below), and bizarrely, it comes at a time when tax revenues have picked up. As can be...
More »The invisible churn in India’s labour markets -Abhishek Jha
-Hindustan Times A country’s unemployment rate can increase or decrease over time, and people can move from one form of employment to another. But headline numbers on unemployment rate and kind of employment do not tell us about the degree of churn in the labour market. One of the most basic concepts in economics is stock versus flow. Stock is a variable measured at a point in time. An individual’s net worth...
More »Almost 90% of total allocated funds for MGNREGA in 2021-22 have been utilised, shows tracker prepared by PAEG
-MGNREGA National Tracker (1 April-30 September 2021) by Peoples' Action for Employment Guarantee (PAEG), released on 29th October 2021 Highlights of the Tracker: • The total budget allocation for NREGA is 34 percent less than the revised budget for the previous year. • Remaining Funds Can Cover At Most 13 Days of Employment per Household till March 31, 2022. • Pending liabilities from previous years amount to 17,180 crores, 23.53 percent of the total...
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