-The Indian Express The current situation stands in stark contrast to the one in 1991, when India had to pledge its gold reserves to stave off a major financial crisis. In March 1991, India had forex reserves of a mere $5.8 billion; today, the country can depend on its soaring foreign exchange reserves to tackle any crisis on the economic front. India’s foreign exchange (forex) reserves surged by $3.883 billion to touch...
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Prashant Bhushan, noted Supreme Court lawyer and human rights activist, interviewed by Krishnadas Rajagopal (The Hindu)
-The Hindu If you have not said anything wrong and if you fully believe in what you have said, then your ego should be such, your self-righteousness should be such that you don’t cave in just because they are offering you an easy way out, says the civil rights lawyer. Civil rights lawyer Prashant Bhushan was punished for criminal contempt by scandalising the Supreme Court. The court punished him with a ₹1...
More »Indian economy is heading for a K-shaped recovery and it won’t be a pretty sight -TN Ninan
-ThePrint.in K-shaped recovery MEAns the growing gap between ‘winners and losers’. An example in India is the stock market being healthy while millions have lost their jobs. Amidst the flood of commentary that followed the finding that the world’s fastest-growing large economy had become its fastest-shrinking one, an observation that stood out was that India’s growth potential had dropped from 6 per cent to 5 per cent. Now, it has been obvious...
More »Nearly 18.2% households in Bihar demanded MGNREGA work in the current financial year (till Aug 31st) but did not receive it, shows a recent tracker by Peoples' Action for Employment Guarantee
-Third MGNREGA tracker by Peoples' Action for Employment Guarantee (PAEG), released on 4th September, 2020 The latest tracker of the Peoples' Action for Employment Guarantee (PAEG) focuses on the state of implementation of MGNREGA in Bihar. The state has witnessed devastating floods that have affected the lives and livelihoods of numerous residents of Bihar. In addition, the state government itself admits to the return of nearly 18 lakh migrant workers back...
More »New report by American Bar Association exposes the dark underbelly of Indo-US sandstone trade
Often exports made by a country to the rest of the world are seen in a positive light by us. It is because exports not only earn precious foreign currencies (that can be used for importing goods and services or simply be used for building forex reserves), it also helps in generating effective demand for goods and services produced in that country and hence, contributes to economic or GDP growth....
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