-Scroll.in The non-profit group said that while the wealth of Indian billionaires rose by Rs 30 lakh crore during pandemic, over 4.6 crore people fell to extreme poverty. The income of 84% Indian households declined in 2021 while the number of billionaires in the country grew from 102 to 142 during the last year, non-profit group Oxfam said in a report released on Sunday. In its report titled “Inequality Kills”, Oxfam said that...
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Centre not likely to go for any off-Budget borrowing this year -Arup Roychoudhury
-Business Standard This is a move that has been hailed by economists and policy-watchers as it makes budgeting a more transparent process Union Finance Minister Nirmala Sitharaman, in this year’s Budget speech, had said that she would discontinue extra-budgetary resources (EBR) funding for the Food Corporation of India, in a continued bid to clean up the central government’s balance sheet and end below-the-line accounting. As a result, the EBR provision for 2021-22...
More »MNREGA funds allocation: Honouring the work-on-demand guarantee -Ashwini Kulkarni
-IdeasforIndia.com The Centre has sought an additional Rs. 25,000 crore as funding for MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act). Based on simple calculations using official data, Ashwini Kulkarni contends that the actual fund requirement is in fact much higher. As the pandemic continues to adversely impact rural livelihoods, the government should allocate sufficient funds to MNREGA, in order to honour the work-on-demand guarantee. For over a month, national and local...
More »Misleading’ Statement Puts Centre’s Commitment Towards MGNREGA in Question -Ronak Chhabra
-Newsclick.in On Saturday, the Ministry of Rural Development denied that the rural jobs scheme was facing a shortage of funds. Its response, however, “leaves many questions unanswered,” according to civil society members. Activists have questioned the Centre’s response to media reports on the shortage of available funds for the rural employment guarantee scheme in the current financial year, by alleging that it is “misleading” and that it leaves many raised questions “unanswered.” Last...
More »Drying up of MGNREGA allocation will shrink the rural economy further -Dibyendu Chaudhuri and Parijat Ghosh
-Down to Earth The focus of MGNREGA has, over time, shifted from employment creation to asset creation The funds allocated in the Union Budget 2021-22 for implementing schemes under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) were exhausted within the first half of this financial year. The budgetary provision for 2021-22 was Rs 73,000 crore, of which Rs 79,810 crore has been spent. Many workers didn’t get paid; it may take...
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