Growth in rural wages not only indicates economic prosperity of the masses, it is also considered important so as to generate effective demand for goods and services, which is produced by various sectors of the economy. When money becomes available in the hands of rural workers due to government spending on programmes such as Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), it generates demand for commodities. The production of commodities...
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Few details, Rs 3.6 lakh crore-question: Will it be a top-up or subsidy tweak? -Aanchal Magazine
-The Indian Express According to the Central Statistics Office, there were 24.95 crore households in India in 2011. If every household in the bottom 20 per cent is eligible for this income, this translates into a total expenditure of about Rs 3.6 lakh crore annually. When Congress president Rahul Gandhi announced that his party, if voted to power, would offer a minimum income of Rs 72,000 a year for the poorest 20...
More »Deepening slowdown: on the Indian economy
-The Hindu Can the RBI’s reduction in borrowing costs help check the demand slowdown? India’s economy is inarguably slowing, and the latest estimates from the Central Statistics Office disconcertingly point to a deepening slowdown. GDP growth is projected to have eased to 6.6% in the October-December period. With the CSO now forecasting the full-year expansion at 7%, fiscal fourth-quarter growth is implicitly pegged at an even slower 6.5%. At that level, growth...
More »Growth in Agri GVA deflator shows a declining trend in comparison to growth in other sectoral GVA deflators
Recent studies and media reports have confirmed that Indian farmers are facing non-remunerative and sometimes falling prices. A past news alert by the Inclusive Media for Change team indicated deflation in wholesale prices of 8 kharif crops (viz. maize, arhar, moong, urad, groundnut, soybean, sunflower seed and Niger seed) on average between 2016-17 and 2018-19. Based on data analysis, that news alert also demonstrated how the rural areas have witnessed...
More »'Access to formal credit increases income of farmers' -TV Jayan
-The Hindu Business Line Letting farmers use Kisan Credit Card for non-farm use for a limited time can help improve credit facility to small farmers The returns earned by farmers, who have access to formal credit, are on an average 17 per cent higher than what farmers, who are dependent on informal sources including loan sharks, earn, said an agricultural economist. Besides, access to institutional credit increases the per capita monthly Consumption Expenditure...
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