-Newsclick.in Joblessness is zooming, inflation is at six-year high led by food inflation, exports are down further, industrial production is stagnant and investment is at a standstill. In the last six months or so, the Modi government has supposedly been paying close attention to the sinking economy, with a flurry of meetings, announcements of freebies to corporates, fervent assurances to markets and budget shenanigans to supposedly keep the deficit in check and...
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Fashioning the framework of a New India -Indira Hirway
-The Hindu A major solution to the present economic crisis is to go in for inclusive growth; it also means shared prosperity The Indian economy is going through a severe crisis: a slowdown as well as a structural crisis. In the words of the former Chief Economic Adviser, Arvind Subramanian, it is headed towards the ICU. Almost all sectors of the economy are in decline: the rate of growth of the national...
More »Budgetary allocations to agricultural and rural sector is meagre, alleges ASHA
-Press release by Alliance for Sustainable & Holistic Agriculture (ASHA) dated 1st February, 2020 New Delhi, February 1st 2020: A thorough analysis of the Budget shows that even though the Budget speech spoke much about Agriculture and Rural sector and a 16-point program, the allocations for the Rural Economy were in fact slashed in this Budget compared to previous year. The Budget allocation for Agriculture, Allied sectors and Irrigation in 2020-21...
More »Deposit insurance cover raised to Rs.5 lakh
-The Hindu The first increase in 27 years assumes significance in the wake of the crisis at PMC Bank Mumbai: The government has decided to increase the insurance cover for bank deposits to ?5 lakh from ?1 lakh, Finance Minister Nirmala Sitharaman said in her Budget speech. This is the first time since 1993 that the deposit insurance cover has been raised. The Finance Minister assured that there was a robust mechanism in...
More »Farmers' group not impressed with Union Budget 2020-21
-Press released by All India Kisan Sangharsh Coordination Committee (AIKSCC) dated 1st February, 2020 Delhi, February 1st 2020: Budget fails to increase rural demand and purchasing power which would have boosted the economy - instead, the Budget only boosts the profits of big corporates and MNCs, said AIKSCC. When the crying need in India’s economy is to increase the demand and purchasing power in rural areas, and hence rural incomes, the...
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