-The Indian Express What is needed is ample income support for households and firms now so that the recovery is not hamstrung by excessively damaged balance sheets Even a cursory reading of Brazil’s recent history will confirm that the adoption of the all-encompassing cap on government spending in late 2016 was critical in rescuing the economy from the crisis of 2014-16. After riding the commodity boom of the 2000s, economic mismanagement and a...
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The Indian Economy on The Verge Of Collapse -Prabhat Patnaik
-Networkideas.org The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per...
More »How to reduce food, job insecurity in rural areas -Binoy Acharya, Ved Arya, Pratyaya Jagnannath, and PS Vijayshankar
-Hindustan Times Launch a massive programme to rehabilitate returnee migrants; allocate an additional Rs 50,000 crore for MGNREGS; extend the free ration scheme for six more months; revive and strengthen public systems of service deliver; RBI should give a directive to banks to extend a top-up loan of Rs 10,000 crore to Self-help Groups After the Covid-19 outbreak, 66% of rural households fell short of cash for food. About 40% reduced their...
More »Six years of Modi govt’s rule has led Indian economy to near collapse -Prabhat Patnaik
-National Herald If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even...
More »Most unmet demand in MGNREGA work has been found in Uttar Pradesh (27%), Madhya Pradesh (22%) and Bihar (20%), finds People's Action for Employment Guarantee
-Press Note by People's Action for Employment Guarantee dated September 10th, 2020 MGNREGA during the pandemic and beyond: Implementation highlights, concerns and questions and demands for parliamentarians We are confronting an unprecedented crisis in the history of modern India. On the one hand, the increasing number of COVID cases point to a dubious distinction for India on the world stage. On the other hand, the unplanned lockdown has resulted in a massive...
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