DeCEDA/Qrius 2022 was a milestone year for India. India walked into 2022 with an infectious wave of Covid-19 impacting lakhs of people, the wave receded a few weeks into the year. As hopes for a post-pandemic recovery surged, war in Ukraine brought in new challenges for the economy. With supply chains disrupted, global sanctions imposed on Russia, prices of fuel and food shot up. Inflation, already on a high from pent-up...
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Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »Top 1% of Indians own 40.5% percent wealth, bottom 50% has around 3% - Oxfam Inequality report
Following the pandemic, the income of the bottom 50 per cent of the population is estimated at 13 percent of national income and 3 percent of total wealth Apoorva Mahendru, Kanishk Gomes, Mayurakshi Dutta, Noopur, Pravas Ranjan Mishra Oxfam International's annual inequality report makes for stark reading. The India supplement, part of the main report, states that the top 1 percent of Indians own nearly 40.6 percent of the total wealth in...
More »India's wheat output may set new record of over 112 lakh tonnes in 2022-23 - PTI/Economic Times
The country's wheat production is likely to set a new record of more than 112 million tonnes in the 2022-23 crop year (July-June), government officials told Press Trust of India. Wheat production had declined to 106.84 million tonnes due to heat wave in key growing states in the 2021-22 crop year, as per agriculture ministry data. In 2020-21, the country had achieved a record wheat output of 109.59 million tonnes....
More »How India’s rulers have dashed the hopes of its younger citizens -Santosh Mehrotra
-Scroll.in Increasing unemployment is a major cause for concern. Politicians constantly talk about India being a young country, since two-thirds of the population is under 35 years of age and half of it below 26. Some economists consider this an automatic boon for the economy, since there is a limitless number of workers who could contribute to India’s productive capacity. Finance and investment giant Morgan Stanley, in a report released in November, identified...
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