-Business Standard The survey discovered that securing capital remains the biggest challenge The number of women-led MSMEs in India has jumped from 2.15 lakh to 1.23 crore in just a decade. However, they face a finance gap of $158 billion and largely rely on informal sources, said a survey by Indifi Technologies, a lending platform for MSMEs, titled ‘Understanding what women-led MSMEs want’. The survey was launched to understand needs and challenges of...
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How the Code on Wages ‘legalises’ bonded labour -Soumya Sivakumar
-The Hindu It allows employers to extend unlimited advances to workers and charge an unspecified interest rate on such loans Debt bondage is a form of slavery that exists when a worker is induced to accept advances on wages, of a size, or at a level of interest, such that the advance will never be repaid. One of India’s hastily-passed Labour Codes — the Code on Wages, 2019 — gives legal sanction...
More »How India’s informal economy is shrinking, and why that’s good news in the long term -Ila Patnaik and Radhika Pandey
-ThePrint.in Greater formalisation will see a shift from low-paying, labour-intensive jobs in informal sector to more productive, formal-sector jobs. This could lead to disruption in short term. A report issued by the State Bank of India (SBI) last month estimated that India’s informal economy has shrunk to 15-20 percent of the GDP in 2020-21 from 52 percent in 2017-18. The report uses employment and digitisation to assess the extent of formalization in...
More »Official data corroborates deepening of livelihood crisis in urban areas during the 2020 nationwide lockdown
The recently released quarterly Periodic Labour Force Survey (PLFS) data broadly confirms the dip in employment and jobs during the countrywide lockdown period, followed by a certain degree of recovery in the post-lockdown months last year as have been indicated by various survey-based studies and research papers. The quarterly bulletin on PLFS provides data on key employment and unemployment indicators i.e. Unemployment Rate (UR), Worker Population Ratio (WPR) and Labour...
More »During pandemic, only 20 per cent of farmers under PM-Kisan had access to formal credit -Ashlin Mathew
-National Herald Of 10.5 crore farmers covered under PM-Kisan, only 2.18 crore farmers received Kisan Credit Card. This means most small, marginal and landless farmers continued to struggle throughout the pandemic During the period of severe economic crisis due to Covid-19 pandemic, only 20 per cent of farmers under PM- Kisan have had access to formal credit. Of the 10.5 crore farmers covered under PM-Kisan, only 2.18 crore farmers have been issued...
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