-The Hindu The first increase in 27 years assumes significance in the wake of the crisis at PMC Bank Mumbai: The government has decided to increase the insurance cover for bank deposits to ?5 lakh from ?1 lakh, Finance Minister Nirmala Sitharaman said in her Budget speech. This is the first time since 1993 that the deposit insurance cover has been raised. The Finance Minister assured that there was a robust mechanism in...
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A Budget exercise that is designed for stressed times -TT Ram Mohan
-The Hindu The FM deserves credit for keeping the capital expenditure steady amid receipts shortfall; but her plan does not meet market expectations of sweeping reforms The Finance Minister’s job is a greatly coveted one but no politician would want to be in Nirmala Sitharaman’s shoes today. The Indian economy has slowed to a 5% crawl. The financial system is under considerable stress. Assumptions about tax revenues have gone awry. The clamour...
More »Time to prioritise education and health -Muchkund Dubey
-The Hindu Investment in these areas will create demand in the short run and make the economy more competitive in the long run In recent months, the government’s macroeconomic policy has acquired a new salience in the context of reversing the current slowdown. The policy currently being pursued is intended primarily to incentivise potential investors by facilitating ease-of-doing-business and making large-scale concessions to the corporate sector. In this context, the government is...
More »'Digital divide' persists despite the country's desire to become a digital giant
A recent report of the Ministry of Statistics and Programme Implementation (MoSPI) brings forth the dichotomy between digital divide and India’s transition towards a cashless economy. The rural-urban divide in access to computer and internet is quite stark, according to the report entitled 'Key Indicators of Household Social Consumption on Education in India, July 2017 to June 2018'. The 75th round National Sample Survey (NSS) report on education finds that...
More »Civil society presses for an increase in budgetary allocation for MGNREGA in FY 2020-21
-Press release by NREGA Sangharsh Morcha dated 27 January, 2020 As the Indian economy continues to languish, the government ignores the advice given by several noted economists, including that of the most recent Nobel winner Abhijit Banerjee, to improve the functioning of the National Rural Employment Guarantee Act (NREGA). The economy is facing blow after blow. India has the highest rates of unemployment in the past 45 years and food inflation...
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