Although social activists and concerned economists demanded at least Rs. 1 lakh crore to be earmarked in favour of the Mahatma Gandhi Rural Employment Guarantee Scheme (MGNREGS), the Finance Minister in her budget speech on 1st February allocated only Rs.61,500 crore to it for the financial year 2020-21. As compared to the fund spent on MGNREGA in 2019-20 (i.e. revised estimate of Rs.71,001.81 crore), the amount set aside for the...
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Jean Drèze, development economist and social activist, interviewed by Shreehari Paliath (IndiaSpend.com)
-IndiaSpend.com Bengaluru: Global economic output is expected to contract by 4.9% in 2020 owing to the COVID-19 lockdown. India announced a lockdown on March 24, 2020, which was extended over two months, and continues in pockets of states depending on the spread of the disease, which has now infected more than half a million people in the country. The lockdown impacted millions of inter-state migrant workers who form the bulwark of India’s...
More »Urjit Patel is back -- as chief of key economic think tank
-The Indian Express Patel replaces former bureaucrat Vijay Kelkar, who chaired NIPFP for almost six years. He is scheduled to join June 22 and will have a four-year tenure, NIPFP said in a statement. Almost 18 months after his fractious and early exit as Reserve Bank of India Governor, Urjit Patel was Friday appointed chairman of the National Institute of Public Finance and Policy (NIPFP), India’s premier economic think tank. Patel replaces former...
More »How To Enable MSMEs To Recover From The Lockdown -Shreehari Paliath
-IndiaSpend.com Bengaluru: In the aftermath of the COVID-19 epidemic and two months of stringent lockdown, India now faces the crises of unemployment and business closure, particularly in the micro, small and medium enterprise (MSMEs) sector. A new report by the Council on Energy, Environment and Water (CEEW) and the National Institute of Public Finance and Policy (NIPFP) has proposed that MSME recovery can be speeded along by: * Identifying micro, small and...
More »Build a new economic imagination -Yamini Aiyar and Mekhala Krishnamurthy
-Hindustan Times Move beyond State-market, rural-urban, agri-non agri and welfare-growth binaries. They are linked This has been a difficult three months for India. The policy response to the coronavirus disease (Covid-19) and the lockdown has forced it to confront long-ignored realities about the Indian economy — its fragility, regional and spatial concentration and deep structural inequity. It also made visible sources of precarious resilience. Agriculture and associated supply chains, for instance, held...
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