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...
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New Welfarism of Modi govt represents distinctive approach to redistribution and inclusion -Abhishek Anand , Vikas Dimble and Arvind Subramanian
-The Indian Express Traditional redistribution, which aims to deliver on intangibles like health and education, has ceded to a distinctive ‘New Welfarism’, where Centre is demonstrably providing tangible essentials to citizens The recently released fifth round of the National Family Health Survey (NFHS-5) provides reliable and independent evidence to assess micro-development performance under this government. The survey covers many dimensions of health, nutrition, and the overall quality of lives. Here we focus...
More »The many layers to agricultural discontent -Valerian Rodrigues
-The Hindu The Farm Acts that are the focus of the farmers’ protest bear variously on the different strata of the farming community At a kisan rally in Bareilly, Uttar Pradesh on February 28, 2016, Prime Minister Narendra Modi spoke of his vision of doubling the income of India’s farmers by 2022. Subsequently, several central leaders and even official committees have reiterated this tall promise. Probably, one of the measures that the...
More »Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
More »Sustained efforts required to reduce multidimensional poverty amidst the pandemic
Multidimensional poverty is about non-monetary poverty and is strongly associated with the challenges of achieving the Sustainable Development Goals (SDGs). Although previously defined only in monetary terms, poverty is now understood to include the lived reality of people’s experiences and the multiple deprivations they face. India’s multidimensional headcount ratio (H) i.e. the proportion or incidence of people (within a given population) who experience multiple deprivations has reduced from 55.1 percent to...
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