-The Telegraph Highest unemployment rate since August 2016 Mumbai: The gloom and doom scenario in India’s economy darkened a little more on Friday after an independent database company threw up an alarming statistic: the unemployment rate in October had surged to 8.48 per cent — the highest since August 2016. The Centre for Monitoring Indian Economy (CMIE) — a respected private researcher — said the unemployment rate in urban India was 8.89 per...
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Govt may pump more funds into NREGS to boost rural economy -Saubhadra Chatterji & Zia Haq
-Hindustan Times Many analysts have underlined that the BJP’s below-par performance in the Maharashtra and Haryana assembly elections reflected concern, among other factors, about the economy, which slumped to a growth rate of 6% in the three months to June 30, the slowest pace in over six years. The government has already spent nearly 80% of its full-year budget for the flagship rural job guarantee programme, top officials said on Friday,...
More »Consumption in rural India hits a 7-year low -Suneera Tandon
-Livemint.com * Farm distress, stagnant incomes have eroded demand, shows Nielsen data * Consumption in rural areas grew at 5% in terms of value in the Sep quarter, while in urban India, the growth was 8% Rural household consumption slumped to a seven-year low in the September quarter, in a sign that the prolonged agrarian distress and near-stagnant rural incomes have eroded demand for consumer goods, market researcher Nielsen said. Consumption of packaged consumer...
More »Patna Corporation admitted it failed, told HC before rains: 'Functioning in primitive way' -Santosh Singh
-The Indian Express From September 28 to October 1, Patna received about 400 mm of rainfall. With all 39 sump houses remaining non-functional till October 1, at least 60 per cent of Patna faced water-logging. * “Any modern city requires four basic infrastructure systems in place to function efficiently — drinking water supply system, storm water drainage system, sewage system and sewerage network system, and solid waste management system. Patna Municipal...
More »Industrial production shrinks to minus 1.1% in August
-NDTV The cumulative growth in April-August over the corresponding period of the previous year was 2.4 per cent. Signs of economic slowdown became more pronounced after country's industrial production or factory output, measured by the estimate of Index of Industrial Production (IIP) registered its worst slump in more than six years in August. The IIP shrank by 1.1 per cent in August compared with an expansion of 4.3 per cent in...
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