-NDTV.com (with inputs from Agencies) The value and volume of bank notes in circulation had increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21 Though the government had launched its sudden move of demonetisation to cull out black money by weeding out currency notes worth 500 and 1,000 rupees denomination out of the system, on November 8, 2016, the notes in circulation in value terms have increased by 64...
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How India’s informal economy is shrinking, and why that’s good news in the long term -Ila Patnaik and Radhika Pandey
-ThePrint.in Greater formalisation will see a shift from low-paying, labour-intensive jobs in informal sector to more productive, formal-sector jobs. This could lead to disruption in short term. A report issued by the State Bank of India (SBI) last month estimated that India’s informal economy has shrunk to 15-20 percent of the GDP in 2020-21 from 52 percent in 2017-18. The report uses employment and digitisation to assess the extent of formalization in...
More »Most households in rural Bihar faced livelihood crisis during the first wave of COVID-19, reveals a recent study
The pandemic's first wave had a devastating impact on the livelihoods of rural workers in Bihar (including the self-employed) last year, according to a survey based research, jointly done by economists from Centre for Development Economics and Sustainability at Monash University, Australia and the New Delhi-based Institute for Human Development. A recent press note issued by the authors of the study shows that almost 94.4 percent of the households participating...
More »Cases of digital frauds surge during pandemic; Mumbai, Delhi and Chennai top chart
-Moneycontrol.com The share of suspected fraudulent digital transaction attempts originating from India increased 28.32 percent over the 12 months ending March, 2021 compared with the previous 12 months, according to a report. With the increased usage of digital channels for payments during the COVID-19 pandemic, attempts of digital fraud have been on the rise in India as in the rest of the world, according to recent reports by TransUnion and ACI Worldwide....
More »40% MGNREGA wage payments for April, May still pending -Priscilla Jebaraj
-The Hindu Centre taking 26 days to clear payment orders generated by States: study Almost 14% of MGNREGA wage payments from April are still pending more than a month later, while 60% of May payments are also pending, according to scheme data. A recent study of the MGNREGA wage transactions in Jharkhand shows that while the States are generating fund transfer orders without delays, it is the Centre which is dragging its...
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