-TheWire.in Real average daily wages improved between 1993-94 and 2011-12, but gains of growth have bypassed casual workers, women and rural areas. Over the past two decades, India became one of the two fastest growing economies in the world, alongside China. The gross domestic product (GDP) has risen four folds since 1993. But has this growth been distributed to lower economic inequality? Has the increase in wages matched the pace of growth...
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ILO: Strong wage policies are key to promote inclusive growth in India
-ILO News Despite real wage growth, inequality, informality and gender wage gap persist. New Delhi: While India’s economy in the past two decades has seen an annual average GDP rate of 7 % — low pay and inequality persist according to the India Wage Report: Wage policies for decent work and inclusive growth , published by the International Labour Organization. The NSSO estimates also indicate that the real average daily wage has doubled...
More »Amarjeet Sinha, Rural development secretary, interviewed by Sayantan Bera and Elizabeth Roche (Livemint.com)
-Livemint.com Rural development secretary Amarjeet Sinha on how MGNREGS has evolved since 2006 to result in income, acreage, water tables, productivity and fodder availability Agrarian distress and rural distress are terms used interchangeably, but the rural economy today is very different from what it was many years ago, given the diversification of rural incomes and hence incorrect to think one means the other, says Amarjeet Sinha, secretary, ministry of rural development. In...
More »Banks Raked in Rs 5,000 Crore from Fining Customers for Breaching Minimum Balance
-PTI India's largest lender State Bank of India, which suffered a staggering net loss of Rs 6,547 crore during 2017-18, led the pack in penalising its customers for not maintaining minimum account balance. New Delhi: As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data. India's largest lender...
More »The Indian economy's changing growth constraints -Niranjan Rajadhyaksha
-Livemint.com The job of policy strategists is always to identify the binding constraints to growth and then try to figure out which policies will help ease them Economists of a certain vintage will remember the old development models in which rapid economic growth was held back by three key constraints. The first was the savings constraint. A poor country such as India could not save enough of its annual national income to sustain...
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