-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...
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No Atma, Lots of Nirbharta: The Socio-Ecological Bankruptcy of Modi’s Self-Reliance Stimulus -Ashish Kothari
-TheWire.in The most blatant example of ecological illiteracy in the name of ‘self-reliance’ is that of coal mining – a sector which is being opened up in parts of central India which were hitherto off-limits. For a government that is tom-tomming its environmental record across the globe, it is interesting that nature, ecology and environment are almost totally absent from the Indian government’s COVID-19 recovery or stimulus package labelled ‘Atmanirbhar Bharat’ (self-reliant...
More »Migrant workers' deaths: Govt says it has no data. But didn't people die? Here is a list - Mukesh Rawat
-IndiaToday.in The Modi govt has told Parliament it does not have data of migrant workers who died during the lockdown. India Today sheds light on data documenting those who died while desperately trying to reach their homes. While presenting the Union Budget 2020 in Parliament on February 1, Finance Minister Nirmala Sitharaman outlined the importance of data and said that in order to meet challenges of real-time monitoring of India's increasingly complex...
More »The Indian Economy on The Verge Of Collapse -Prabhat Patnaik
-Networkideas.org The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per...
More »ExplainSpeaking on economy: Why unemployment could become a bigger headache for government -Udit Misra
-The Indian Express Rapid spread of Covid-19 and inadequate spending by government could result in India suffering a permanent loss of Rs 30 lakh crore, which is roughly the size of the Union Budget for 2020-21 Dear Readers, This week started with several economists coming out with their revised GDP growth expectations for India in response to the official GDP growth data that was released on August 31. With the economy shrinking more...
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