The Wire In a country like India where inequality is so prominent, a development scheme can come a cropper if it lacks inclusivity. The Member of Parliament Local Area Development Scheme (MPLADS) was launched in 1993 to enable parliamentarians to directly contribute towards meeting the development demands of their constituency or state. Despite many deficiencies plaguing the scheme, it stood out mainly on account of the principles of social justice and its...
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Real Wages Declined for Rural Indians in 2022, a Year When the Economy Somewhat Recovered
The year 2022 was supposed to mark the recovery of the Indian economy from the Covid-19 pandemic and lockdowns of the preceding two years. However, the Russian invasion of Ukraine in February pushed up prices of food, fuel and fertilizer worldwide. In India consumer price inflation, which had declined to under 5 percent in the September-November period of 2021, has steadily increased, staying above 6 percent throughout 2022. What happened to rural incomes in 2022? An...
More »Oct-Dec Quarter GDP slows to 4.4% as manufacturing shrinks - Tanya Krishna
Financial Express India's gross domestic product in the October-December, 2022 quarter is estimated to have grown at 4.4 percent year-on-year, slowing down from the previous two quarters, and a tad slower than expected, mainly as manufacturing activity took a hit, and favourable base faded away, government data showed on Tuesday. India’s GDP at constant prices in Q3 of FY 2022-23 is estimated at Rs 40.19 lakh crore, the Ministry of Statistics...
More »Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »Climate change induced extreme events are playing havoc with human lives & livelihoods, show latest available data
It is evident from various studies (please click here, here and here to access) that emission of Greenhouse Gases (GHGs) by the developed as well as the developing countries is responsible for climate change, thus causing extreme weather events to occur, with much more ferocity than in the past. The negative impact of climate change may or may not be felt in the geographical location where historically emission has taken...
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