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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Can MGNREGA be a tool for post-COVID-19 rural recovery -Shilp Verma
-Down to Earth Agriculture is the least-affected sector of the economy. It is poised to gain and lead economy’s revival process ‘Year of COVID-19’— this is how 2020 is probably going to be remembered. It has been more than six months that the novel coronavirus disease has been dominating public discourse, news cycles, internet searches and even geopolitics. As on July 8, 2020, India had more than 0.7 million cases. It was among...
More »Core’s contraction: On slowing economy
-The Hindu As output and demand slow, India must retain twin focus on the pandemic and economy Output in the eight core industries suffered an overall contraction for a third straight month in May, shrinking 23.4%, as the pandemic-induced lockdown kept large parts of the economy shuttered, the Commerce Ministry’s provisional figures show. Of the eight, all but one posted declines in production compared with a year earlier, with six sectors witnessing...
More »Rs 150,000 crore plus: the govt stimulus for rural areas Post Lockdown -Harish Damodaran
-The Indian Express That’s the actual liquidity pumped into rural areas by government Post Lockdown – through grain procurement, PM-Kisan and MGNREGA wages. There are many parallels one can draw between the novel coronavirus-induced lockdown (gharbandi) and demonetisation (notebandi), in terms of their impact on India’s farm economy. Both resulted in the same thing – demand destruction – albeit through different routes. Notebandi caused a haemorrhaging of liquidity from the predominantly cash-based farm...
More »Lockdown further impoverishes those who were living on the edges of existence even during normal times, finds a new report
A recent survey that was conducted through telephonic interviews among 1,405 respondents across the states of Delhi-NCR, Uttar Pradesh, Bihar, Haryana, Himachal Pradesh, Assam, Rajasthan and Jharkhand reveals the precarious conditions of workers nearly 45 days after the announcement of COVID-19 lockdown. The report entitled Labouring Lives: Hunger, Precarity and Despair amid Lockdown tries to understand the extent (and depth) of job loss and hunger 45 days after the lockdown. Hunger and...
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