-Press release by Network of Rural and Agrarian Studies (NRAS), dated 30th November, 2020 The “State of Rural and Agrarian India Report 2020” was released by Dr. V Ramgopal Rao, Director, IIT Delhi today in an online webinar organised by the Network of Rural and Agrarian Studies (NRAS). This report is being brought out by the NRAS, which is a pan-India network of scholars, researchers, practitioners, farmers, students, and activists engaged...
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Why Recovery at Cost of Worker Immiserisation Won’t Last Long -Prabhat Patnaik
-Newsclick.in GDP recovery from the lockdown-induced abyss is accompanied by significant labour displacement and squeeze on wages, which will impact aggregate demand. Ministers from Narendra Modi to Nirmala Sitharaman are talking about a recovery of the Indian economy from the pandemic-induced crisis. Even the Reserve Bank of India (RBI), which estimated the second quarter GDP growth to have been -8.6%, has seen signs of recovery in October. Of course, there had to be...
More »Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
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...
More »Bihar asks Centre to hike its MGNREGA labour budget -Priscilla Jebaraj
-The Hindu 20% of people demanding work have been denied; even higher on ground, say workers. Having run through 74% of its labour budget under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) at the halfway point of the year, and expecting the demand to go up still further in a pandemic year, Bihar has asked the Centre for an additional six crore persondays of work to be added to its...
More »Covid puzzles: Jobs back, labour shrinks, demand low but inflation still high -Aanchal Magazine and Anil Sasi
-The Indian Express While much of the world is seeing benign inflation trends, India is a clear exception. Among the drivers of headline inflation in India in recent months has been food prices, especially those of vegetables. With economic activity picking pace after the easing of lockdown measures, the recovery has thrown up some paradoxes: revival in employment amid a fall in labour force participation, surging inflation rate despite disinflationary impact from...
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