-Press release by NREGA Sangharsh Morcha dated 30 January, 2022 The stress on the economy became evident, especially in the aftermath of the raging pandemic from the 7.3% contraction in GDP in 2020-21. The distress faced by poorer households has continued over a period of time with the pandemic acting as a catalyst in increasing the woes of such households. In a latest round of survey conducted by People’s Research on...
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Indian Economy is in a Vicious Spiral; Only Way Out is by Empowering Working People -Prabhat Patnaik
-Newsclick.in India needs a larger government expenditure on transfers to the working people. For such larger expenditure, resources have to be raised through greatly increased taxation of the rich- a reversal of the perverse fiscal strategy the government has pursued so far. The Indian economy is currently caught in a vicious spiral of inflation, stagnation and a widening of the fiscal deficit. And this spiral is set to become even more vicious...
More »Tale of two Indias: Income of Poorest 20% Tanks 53% in 5 years, Richest 20% Rises 39%
-Newsclick.in The poorest, whose annual income surged by 183% between 2005 and 2016, have been most impacted by COVID-19, shows survey In a K-shaped economic recovery since COVID-19 hit India, there was a massive plunge of 53% in the annual income of the poorest 20% of Indian households from 2015-16 to 2020-21. Besides the drastic fall in their annual income, which was rising since 1995, the share of the poorest 20% in...
More »India’s Economic System Rigged in Favour of the Super-Rich, Says Oxfam Report -Ditsa Bhattacharya
-Newsclick.in The report points out that in India, during the pandemic the wealth of billionaires increased from Rs 23.14 lakh crore to Rs 53.16 lakh crore. At the same time, more than 4.6 crore Indians are estimated to have fallen into extreme poverty in 2020. While 84% of households in India suffered a decline in their income in a year marked by the tremendous loss of life and livelihoods, the number of...
More »The under-nutrition problem in Bundelkhand should receive equal attention of the policymakers, if not more
Recent media reports point out that the Bundelkhand region of Uttar Pradesh is likely to get about Rs. 6,300 crore projects ahead of the upcoming Uttar Pradesh assembly polls, including a Rs. 400 crore worth plant for the propulsion system of anti-tank guided missiles in Jhansi. The foundation was laid for the first project in the Jhansi node (related to the Uttar Pradesh Defence Industrial Corridor) on November 18, 2021. The two...
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