-The Indian Express As part of the first supplementary grant of demands, the ministry had released an additional Rs 5,000 crore — a third of the Rs 15,000 crore the MoRD had demanded to meet increased expenditure in drought-affected states. The Ministry of Rural Development has sought Rs 10,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) as part of the second batch of supplementary demand of grants, set...
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With Rs 9.9 lakh crore back, Centre's estimates may go for a toss
-The Times of India NEW DELHI: With over three weeks to go for the deadline to deposit invalidated 500 and 1,000 rupee notes, deposits in the scrapped currency continue to swell, straining the Centre's estimate of how much of the illegal tender might not come back into the system. Government data shows deposits in two high denomination notes by Saturday evening had totalled Rs 9.85 lakh crore. The imposing figure, shared by...
More »How much the richest 1% earn and spend -Pramit Bhattacharya
-Livemint.com 98% of the top percentile own either a car or a two-wheeler, shows a PRICE survey on India’s consumer economy The average monthly household income of the richest 1% of Indians is Rs.66,627 and that of the richest 10% is Rs.35,605, according to the latest data from a nationally representative survey, the Household Survey on India’s Citizen Environment & Consumer Economy (ICE 360° survey) conducted in 2016. Given that these income estimates...
More »Barter is the best bet for a few tribals here -Santosh Patnaik
-The Hindu To overcome currency shortage at weekly markets, they are banking on the age-old practice CHAMPAGUDA (VISAKHAPATNAM DISTRICT): “What will we do with the Rs.2,000 note, which is a very big amount for us? As we don’t know how to exchange the demonetised note of Rs.500 in banks, we exchange it for Rs.400 from middlemen (called sahukars) in shandies (weekly markets),” says Kinusudi Kamala. She is among the many tribal women who...
More »Rural distress -TK Rajalakshmi
-Frontline.in To rural India, which is already reeling under multiple crises, demonetisation has come as yet another blow. WHEN the Prime Minister made the decision to withdraw Rs.500 and Rs.1,000 notes, he did not quite factor in the impact it would have on agriculture. Despite the rhetoric the concept of digital wallets has not yet entered rural India unlike in much of the country’s urban areas, and much of rural and...
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