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...
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Top 1% of Indians own 40.5% percent wealth, bottom 50% has around 3% - Oxfam Inequality report
Following the pandemic, the income of the bottom 50 per cent of the population is estimated at 13 percent of national income and 3 percent of total wealth Apoorva Mahendru, Kanishk Gomes, Mayurakshi Dutta, Noopur, Pravas Ranjan Mishra Oxfam International's annual inequality report makes for stark reading. The India supplement, part of the main report, states that the top 1 percent of Indians own nearly 40.6 percent of the total wealth in...
More »Understanding the rejig in India’s food security programme -Roshan Kishore and Pavitra Kanagaraj
-Hindustan Times India’s Public Distribution System (PDS) after the enactment of the National Food Security Act (NFSA) promises 5kg foodgrain per persons at a highly subsidised cost of ₹3/kg for rice, Rs.2/kg for wheat and Rs.1/kg for cereals. The government will stand to lose this revenue after the decision to make PDS entitlements free. New Delhi: On December 24, the Union government announced a rejig of India’s food security programme. It has...
More »Government expenditure on early childhood education a mere 0.1% of GDP: report -Jagriti Chandra
-The Hindu The study calls for raising it to 1.6% to 2.2% of GDP The government expenditure in India on early childhood education (ECE) for children between the age of three years and six years is a mere 0.1% of the GDP, and the average spend per child of ₹8,297 per annum is at least a fourth of desired levels, according to a new study. The research conducted jointly by the Centre for...
More »3-day MGNREGA dharna concludes today after highlighting the demands of the workers to the media & policymakers
-Press note by NREGA Sangharsh Morcha dated August 4, 2022 On the final day of the 3-day dharna, despite heavy rains, hundreds of mazdoors from 15 states stayed on at Jantar Mantar to continue raising their voices. Currently, 14 states are running a negative balance on NREGA funds, and 64 percent of the budget for this financial has already been spent. More than Rs. 6800 crores are due in wages to...
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