-ThePrint.in Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka is racing to avert a default amid dwindling forex holdings. Colombo: Russia’s war in Ukraine, which has caused a humanitarian crisis and convulsed global financial markets, is now threatening to crush an $81 billion economy more than 4,000 miles away in the Indian Ocean. Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka...
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Sanctions within a Regime of Neo-liberalism -Prabhat Patnaik
-NetworkIdeas.org Before joining the neo-liberal order, India used to have “rupee payment arrangements” with the Soviet Union and Eastern European socialist countries under which the main international reserve currency, the US dollar, was used neither for settling transactions nor even as the unit of account in terms of which the trade-related transactions were denominated. The dollar in short was used neither as the means of circulation, nor even as the unit...
More »Questions on MGNREGA budget estimation -Laavanya Tamang and Anuj Goyal
-The Hindu How the Centre’s approach has eroded the very premise of MGNREGA The disappointing allocation for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in the FY 2022-23 budget has created a buzz. Organisations such as the All India Kisan Sabha and NREGA Sangharsh Morcha (NSM) have raised concerns about the inadequacy of the amount. Grassroots activists and academics have been demanding higher budgetary allocations for MGNREGA; yet, the...
More »A Budget Whose Silences are Ominous -Prabhat Patnaik
-Newsclick.in The people are thus facing increasingly hard times, but in the bland vision of the Modi government, there is no cognisance of it. However, that itself is ominous because when the Balance of Payments becomes unmanageable, the Modi government will run to the IMF to ask for a rescue package. No budget in recent memory has been presented at a time when the economy is in such dire straits: unemployment is...
More »NREGA Sangharsh Morcha demands a hike in MGNREGA Budget for FY 2022-23
-Press release by NREGA Sangharsh Morcha dated 30 January, 2022 The stress on the economy became evident, especially in the aftermath of the raging pandemic from the 7.3% contraction in GDP in 2020-21. The distress faced by poorer households has continued over a period of time with the pandemic acting as a catalyst in increasing the woes of such households. In a latest round of survey conducted by People’s Research on...
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