-Down to Earth This comes even as rural India is suffering its worst unemployment crisis in 45 years The Union government slashed budgetary allocation for its flagship Mahatma Gandhi National Rural Employment Generation Act (MGNREGA) in the Budget 2020-21, at a time when rural India is facing all sorts of crises including rising food bills and highest unemployment in the last five decades MGNREGA guarantees at least 100 days of employment to adults...
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Farmers' group not impressed with Union Budget 2020-21
-Press released by All India Kisan Sangharsh Coordination Committee (AIKSCC) dated 1st February, 2020 Delhi, February 1st 2020: Budget fails to increase rural demand and purchasing power which would have boosted the economy - instead, the Budget only boosts the profits of big corporates and MNCs, said AIKSCC. When the crying need in India’s economy is to increase the demand and purchasing power in rural areas, and hence rural incomes, the...
More »MGNREGA allocation slashed by Rs. 9,500 crore in the Union Budget 2020-21, allege Right to Work activists
-Press release by Peoples' Action for Employment Guarantee dated 1 February, 2020 The Peoples’ Action for Employment Guarantee is distressed to note the total lack of responsibility and sensitivity accorded by the Union Budget 2020-21 to the rural economy in General, and MGNREGA in particular. It is telling and obviously callous that the Budget estimate for this year at Rs. 61,500 crores is Rs. 9,500 crores less than the revised estimate...
More »Budget 2020: Income tax slabs lowered for those who forgo exemptions
-The Hindu Announcing new income tax proposals in the Union Budget 2020, Finance Minister Nirmala Sitharaman said that the new tax rates will be optional. In a proposal to simplify the personal income tax regime, Finance Minister Nirmala Sitharaman, in the Union Budget 2020 speech, said that income tax rates will be “significantly reduced” for those who forgo reliefs and exemptions. The new tax rates will be optional, she said. Please click here...
More »Explained: How the government plans to reboot the economy with this budget -Udit Misra
-The Indian Express Boosting consumption by leaving people with higher disposable incomes is the key strategy The fine print of the Union Budget for 2020-21 notwithstanding, the central strategy of the government seems to be to boost the disposable incomes of the Indian consumers. * What was the problem slowing down the economy? Typically, there are four engines of GDP (gross domestic product) growth. These are as follows: Consumption of the private individuals (or...
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