-The Indian Express The only difference between a fiscal deficit and selling public assets lies in the nature of the government paper that is handed to the private sector, but the macroeconomic consequences of a fiscal deficit on the economy are no different from those of selling public assets. The government has adduced no reasons for the proposed privatisation of several public sector assets other than to generate resources for its spending....
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The pandemic has hampered social auditing of MGNREGA
When a massive sum of public money is spent on a programme like Mahatma Gandhi Rural Employment Guarantee Programme (MGNREGA)--a demand-driven programme, there is likelihood of financial misappropriations and mismanagement. Thankfully there are checks and balances in the rural employment guarantee legislation to counter such malpractices. It is worth noting that the total allocation under the Mahatma Gandhi Rural Employment Guarantee Programme (MGNREGA) for 2020-21 was Rs. 1,11,500.00 crore (R.E.), up...
More »RSS-affiliate Bharatiya Mazdoor Sangh plans protest against disinvestment of PSUs
-The Hindu Decision taken “in the context of the onslaught of the government”, it says The Bharatiya Mazdoor Sangh (BMS) affiliated to the RSS has announced a phase-wide agitation from March 15 to November 11 against the proposed disinvestment programme of the Public Sector Units (PSUs) by the Union government. The decision was taken at a two-day meeting of the BMS’ PSUs Coordination Committee in Hyderabad that ended on Friday. The meeting came...
More »Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
More »40% of toilets surveyed by CAG in government schools non-existent, unused
-The Hindu Over 1.4 lakh toilets were built by 53 CPSEs, with key support coming from power, coal and oil firms Public Sector Units claimed to have constructed 1.4 lakh toilets in government schools as part of a Right to Education project, but almost 40% of those surveyed by the Comptroller and Auditor General of India (CAG) were found to be non-existent, partially constructed, or unused. In an audit report presented in...
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