Following the pandemic, the income of the bottom 50 per cent of the population is estimated at 13 percent of national income and 3 percent of total wealth Apoorva Mahendru, Kanishk Gomes, Mayurakshi Dutta, Noopur, Pravas Ranjan Mishra Oxfam International's annual inequality report makes for stark reading. The India supplement, part of the main report, states that the top 1 percent of Indians own nearly 40.6 percent of the total wealth in...
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India’s 20 Largest Profit Generators Are Earning 80% Of the Nation’s Profits - Nandita Rajhansa, Saurabh Mukherjea
A decade ago, this figure was around 40%. This is leading to an increasingly polarised stock market - Marcellus/The Wire The United Payments Interface and the digitisation of business activity in India are one of the several factors driving an exponential surge in the concentration of corporate profitability in India. Improvements in transport infrastructure (e.g., the highway network has doubled over the past decade), the introduction of GST (in 2017) and new...
More »Global Economy: In 2023, Central Banks Will Have to Battle Inflation Amid Political Obstacles -Steve Schifferes
-TheConversation.com/TheWire.in With the cost-of-living crisis now at the top of the public’s agenda in many developed countries, the setting of interest rates has ceased to be just a technical matter and has instead become highly political. Where is the Global Economy heading in 2023? After all the challenges of last year, it’s a question we ask with trepidation. Just as the economy was dealing with the ongoing effects of the COVID-19 pandemic,...
More »India seeks discount in rare one-year urea import tender, say sources -Nidhi Verma
-ThePrint.in New Delhi: India has issued a global urea tender asking producers to quote a discount for the supply of 600,000 tonnes of urea, industry sources said and a document shows, as the nation seeks to cut import costs and secure cheaper supplies of the soil nutrient. India, where soil nutrients are sold at below market rates, annually imports urea through tenders by authorised companies such as India Potash Ltd, Rashtriya Chemicals...
More »Can India’s production incentive scheme transform the economy as the SEZ push did for China? -Siddhant Bajpai
-Scroll.in The Indian government will have to take serious note of the structural problems and bottlenecks to work on improving the production-linked incentive scheme. On December 20, the Indian government approved a Rs 357.17-crore incentive for Foxconn India, under the Production-Linked Incentive scheme for the Large-Scale Electronics Manufacturing sector. According to government think tank Niti Aayog, Foxconn India is the “first global company” approved under the scheme for mobile phones and to receive...
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