Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
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Wealth Inequality in a Capitalist Society -Prabhat Patnaik
-Newsclick.in Two taxes – inheritance and wealth -- alone, levied only on the top 1% of the population, would be enough to fetch Rs.14.67 lakh crore. It is often believed that the ability to pass on property to one’s progeny is an essential element of capitalism, without which the capitalists’ incentives will dry up and the system will lose its dynamism. Nothing could be further from the truth; indeed the acquisition of...
More »Women spend most of their daily time in unpaid domestic and care work, shows the latest Time Use Survey data
Among other things, one of the reasons (given by some economists) behind low labour force participation rate (LFPR) of women vis-à-vis men in the country is that more young girls are educating themselves, causing an improvement in the secondary and tertiary enrolment rates. It means that more Indian women are staying out of the labour force in order to continue their education – secondary education and / or college &...
More »Labour’s data lost -Rajendran Narayanan and Bishwa Pandey
-The Hindu The government’s tendency to be opaque and blame states is not new Last month, the Code on Social Security; the Code on Occupational Safety, Health and Working Conditions; and the Code on Industrial Relations were passed in Parliament with little debate. In August 2019, the Code on Wages was passed. The four codes together subsume more than 40 labour laws. The mission statement from the Ministry of Labour and Employment reads:...
More »A weak link in the elementary education chain -Rohit Dhankar
-The Hindu India is ignoring the necessity for strong capacity building of the many NGOs engaged in educational improvement For about three decades now, a large number of non-governmental organisations (NGOs) are intensively engaged in the task of improving elementary education in the country. A paper in the Economic & Political Weekly of May 2005, titled How Large Is India’s Non-Profit Sector?, estimates about three million paid workers in the voluntary sector...
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