During the last one year, India seems to have lost the race in becoming the world leader in terms of development, prosperity and growth thanks to the recession brought about by the Covid-19 pandemic. The total number of poor people in the country has swelled and the middle class has shrunk in 2020 in comparison to what was anticipated earlier. A new study by the United States based think tank Pew...
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Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates
Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...
More »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 »The country should worry about further worsening of economic inequality in the post-COVID period
The World Economic Outlook – a bi-annual publication of the International Monetary Fund (IMF) -- released in October 2020 has anticipated that the economic progress made by the countries since the 1990s to reduce poverty would be turned upside down by the COVID-19 pandemic. On top of that, economic disparity would rise too in the post-COVID world because the crisis has disproportionately impacted women, informal sector workers and people with...
More »Women spend most of their daily time in unpaid domestic and care work, shows the latest Time Use Survey data
Among other things, one of the reasons (given by some economists) behind low labour force participation rate (LFPR) of women vis-à-vis men in the country is that more young girls are educating themselves, causing an improvement in the secondary and tertiary enrolment rates. It means that more Indian women are staying out of the labour force in order to continue their education – secondary education and / or college &...
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