-The Indian Express Rural wages in India have registered an average annual growth of 3.8 per cent in November, the lowest since July 2005, according to Labour Bureau data. The 3.8 per cent year-on-year increase is a significant drop relative to the two-digit growth rates prevailing until June, and the peak 20 per cent-plus levels of 2011 (see graph). "The numbers confirm the findings in our mid-year economic analysis that inflation is...
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The great forgetting -Himanshu
-The Indian Express The Situation Assessment Survey (SAS) of agricultural households, released last week by the National Sample Survey Office (NSSO), is the second one ever to be done. The SAS of 2003 was necessitated by the agrarian crisis of the time. Farmer suicides had reached a peak, and the reference year for the survey, 2002-2003, had seen severe drought. The agricultural sector was in crisis, with growth rates slowing to...
More »Rise in global inequality
-The Hindu The findings from the latest International Labour Organisation report on real wages point to a mix of proactive initiatives and policy paralysis in different contexts. The study notes that continuing deceleration in the growth of global real wages and discriminatory pay gaps based on gender and nationality could sharpen household income inequalities. A most striking finding is that labour productivity growth outstripped increases in real wage between 1999 and...
More »Cash transfers can work better than subsidies -Guy Standing
-The Hindu Providing people with a modest basic income instead of subsidies would save public revenue With oil prices falling, it was perhaps a good time to fade out fuel subsidies. All subsidies are inefficient and distortionary, and most are regressive. The same could be said of costly public works schemes as well. By contrast, the debate on direct benefit transfers has moved into a more sensible phase, with the posturing criticism of...
More »Jean Dreze, economist and activist, interviewed by Atmadip Ray
-The Economic Times For one who had worked so closely to frame the world's largest job guarantee programme, known as the Mahatma Gandhi National Rural Employment Guarantee Act, it's not easy to see it succumb to pressure. It's no wonder that economist-cum-activist Jean Dreze will raise his voice against this, along with eminent academics such as Pranab Bardhan and Maitreesh Ghatak. Dreze says corruption related to NREGA and leakages - its...
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