-The Telegraph Risks and rewards of a green transition At the CoP26 in Glasgow, India pledged to net-zero carbon emissions by 2070, with specific commitments at a shorter horizon to obtain half its energy from renewables and lower the carbon intensity of the economy by at least 45 per cent from 2005 levels as well as the total projected carbon emissions by one billion tonnes by 2030. The commitment to a low-carbon...
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Banks' NPAs kept rising in the past due to lack of transparency: PM Modi
-Livemint.com PM Modi said due to the lack of transparency in the country's banking sector earlier, various practices used to take place Audit Diwas: Prime Minister Narendra Modi on Tuesday said that banks' NPAs kept increasing in the past due lack of a lack of transparency in the banking sector. He said due to the lack of transparency in the country's banking sector earlier, various practices used to take place. “As a...
More »Govt. Squeezes Spending, Even Though Tax Collections Have Increased -Subodh Varma
-Newsclick.in Modi government has restrained spending of various ministries including education, social justice, environment and others. Continuing with its policy of cutting down spending, the central government has spent only 47% of the budgeted amount by the end of September 2021. That’s half of the financial year 2021-22 gone. This is a new low (see graph below), and bizarrely, it comes at a time when tax revenues have picked up. As can be...
More »Globalisation and its discontents, in Haryana -Roshan Kishore
-Hindustan Times From January 15, 2022, a law giving 75% reservation for local residents in private sector jobs will come into effect in Haryana From January 15, 2022, a law giving 75% reservation for local residents in private sector jobs will come into effect in Haryana. To be sure, the policy will only apply to jobs where the monthly salary is up to ₹30,000. The announcement has already triggered a rethink among...
More »Don't believe everything they tell you about breakneck formalization -Pramit Bhattacharya
-Livemint.com There is good reason to doubt the reported decline in the informal sector’s share of Indian GDP A State Bank of India (SBI) report that grabbed headlines recently suggests that India’s informal sector has shrunk dramatically in recent years. Given that the claim comes from the economic research team of a major state-owned financial institution, it deserves scrutiny. The SBI report examines the likely loss of output or gross domestic product (GDP)...
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