-ThePrint.in RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority. The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply. Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the...
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The Myth Of ‘Ethical’ Fashion: How a Multinational Clothing Brand Neglected its Women Workers -Swathi Shivanand
-TheWire.in The COVID-19 pandemic has been used as an excuse to hide anti-worker actions by apparel brands and their supplier factories. “Where are you hiding, H&M?… If you don’t come out and stand with us now, it means you are complicit in union busting and closure of the company. Your profits are made on the sweat of our labour…Please ask Gokaldas to reopen the factory.“ On 7, July 2020 Shobha, a laid-off worker...
More »A fiscal crisis: Why FCI needs provisioning in food subsidy budget -Sandip Das
-Down to Earth Mounting expenses, under-provisioning of food subsidy budget leading to a huge debt is highly worrisome A fiscal crisis has been brewing in the last few years. Mounting food subsidy arrears — payable to the Food Corporation of India (FCI) due to ‘under-provisioning’ of food subsidy expenses in successive union budgets — has forced FCI to take loans to finance its operations. FCI is the central agency that manages procurement, storage...
More »Desperate economic situation calls for immediate boost to government expenditure -Prabhat Patnaik
-National Herald Universal cash transfer to non-income tax households is imperative apart from covering investment on infrastructure, including social infrastructure like healthcare A striking aspect of the 24 per cent decline in GDP in the first quarter of 2020-21 compared to the previous year’s first quarter is the decline by 10.3 per cent in public administration, defence and other public services. This is a sector where the GDP is estimated not by...
More »India should opt for income support so that pandemic does not turn into a financial crisis -Jahangir Aziz
-The Indian Express What is needed is ample income support for households and firms now so that the recovery is not hamstrung by excessively damaged balance sheets Even a cursory reading of Brazil’s recent history will confirm that the adoption of the all-encompassing cap on government spending in late 2016 was critical in rescuing the economy from the crisis of 2014-16. After riding the commodity boom of the 2000s, economic mismanagement and a...
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