-The Hindu 96% of annual allocation exhausted. The Centre is on the verge of running out of funds for the crucial Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme. More than 96% of the allocated money has already been spent or is needed to pay pending dues, with less than Rs.2,500 crore left to sustain the scheme for the next two months. Fifteen States are already in the red. According to the scheme’s...
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Budget work to start on October 14
-The Hindu Ministries asked to submit data and ensure correctness of figures The Finance Ministry will start its pre-Budget work from October 14 onwards, according to a circular it sent to all Ministries and Departments. The other Ministries will have to prepare and send their budgets, expenditure trends, and non-tax revenue estimates for 2020-21 by October 9 to the Finance Ministry. Following this, the Finance Ministry will hold separate meetings with all the...
More »Why India's growth figures are off the mark -Arun Kumar
-The Hindu The over-reliance on the organised sector for official GDP data is causing a gross miscalculation. During the global financial crisis, it was said that the experts were behind the curve. The International Monetary Fund (IMF) and financial sector experts continued to predict till October 2008 that the global economy would grow rather than shrink. They were way off the mark since the global economy was rapidly slipping into a great...
More »Pronab Sen, former chief statistician of India, interviewed by Kabir Agarwal and Anuj Srivas (TheWire.in)
-TheWire.in "I think the fact that the whole [NSSO] exercise began with a fundamental premise of keeping it comparable, that has been forgotten." The fierce debate over India’s unemployment figures came to a head last week, when a jobs data report by the National Sample Survey Office (NSSO) was finally made public. This report has been a source of contention ever since two members of the National Statistical Commission (NSC) resigned allegedly...
More »The mistaken obsession with the fiscal deficit -CP Chandrasekhar and Jayati Ghosh
-Networkideas.org It’s that time of year again – the time when all eyes turn to those magic numbers, the actual and proposed fiscal deficits of the central government as shares of GDP. Breathless news anchors will interrogate financial investors on what the numbers mean, and why 3.5 per cent or 3.7 per cent is fatally worse than, say, 3.4 per cent or 3.2 per cent or less. Everyone will breathe a...
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