-Financial Express The overall value of Rs 2,000 notes significantly fell to Rs 5.4 lakh crore in the fiscal year 2019-20, from Rs 6.5 lakh crore in the previous fiscal year 2018-19. Rs 1.1 lakh crore worth of high denomination notes of Rs 2,000 vanished from the system in just one year. The overall value of Rs 2,000 notes significantly fell to Rs 5.4 lakh crore in the fiscal year 2019-20, from...
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Explained: UP, Bihar, Bengal see biggest jump in new NREGA job cards -Harikishan Sharma
-The Indian Express Consider this: From April to August, over 83 lakh additional households or 1.6 crore persons joined the NREGA labour force by getting job cards, taking the number of families under the scheme to an all-time high of 14.36 crore. This summer, as millions of migrants returned to their villages amid a rise in Covid cases, another chart climbed steadily: the number of households enrolled under the Mahatma Gandhi National...
More »An Expert Explains: Decoding GDP contraction --Neelkanth Mishra
-The Indian Express The contraction seen in first-quarter GDP data is severe, but not unexpected. What should be done — or not done – at the level of govt policy so that the economy gets a chance to rebound as quickly as possible? * How should one read the first-quarter GDP data and the contraction by 23.9%? What signal does it offer for the future? And does it give any idea of...
More »Role of collective organisations during economic crises -Indranil De, Mubashshir Iqbal and Rooba Hasan
-The Hindu Business Line The government, market and collectives should have worked in tandem to develop resilience of economic institutions during the slowdown in India The sharp downfall in the economic growth rate could be attributable to a lack of resilience of Indian economy. Only fiscal and monetary policies may not halt the downfall of the economy. Collective organisations, including NGOs, have played an important role in consumption and income-smoothing. The downfall...
More »Explained: Forex reserves at all-time high — why did this happen, and what does it mean for India’s economy? -George Mathew and Sandeep Singh
-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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