-Livemint.com The recent decline in the labour force participation rate should be a matter of deep concern for the Indian economy It has been a year since Prime Minister Narendra Modi surprised the country with the demonetisation announcement. Numerous commentators had criticized the move at the time for a variety of reasons, the most prominent among these being: (a) demonetisation was the wrong instrument for the intended objective of eliminating black money...
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A Response to NITI Aayog's Rajiv Kumar on Seasonality and Job Losses After Demonetisation -Mahesh Vyas
-TheWire.in Mahesh Vyas of the Centre for Monitoring Indian Economy (CMIE) responds to the NITI Aayog vice-chairman’s dismissal of CMIE’s research on Unemployment in India. In an interview with Karan Thapar for The Wire, NITI Aayog’s vice chairman, Rajiv Kumar, has been dismissive about CMIE-BSE unemployment statistics. He says that I had no answer to chief statistician T.C.A. Anant’s question on seasonal adjustment of unemployment data. This is an incorrect description of...
More »Demonetisation anniversary: Why less cash in itself may not necessarily mean less black money -Sunny Verma
-The Indian Express It can also mean other things such as currency shortage, transaction mode shift. The government has presented a lower cash-to-GDP ratio as a key achievement of demonetisation, and a measure of black money being checked. Economists, however, caution against reading this metric in isolation. Prime Minister Narendra Modi said last month that the cash-to-GDP ratio is down to 9% after demonetisation, from over 12% earlier. “Was it possible if a...
More »Jharkhand's MGNREGA Workers Need a Lot More Than Political Slogans -Siraj Dutta
-TheWire.in Despite widespread violations of workers’ entitlements, the BJP government as well as the opposition have shown nothing but apathy. The BJP-led Jharkhand government has coined a new slogan, “Har haath ko kaam (Give every hand work)” to show its commitment on providing employment to people of the state. The slogan assumes special significance for Jharkhand, where the ratio of working age population migrating to other states was the highest in the...
More »From 'Job-less' to 'Job-loss' Economy: What is PM Modi Doing -Savera
-Newsclick.in The falling work participation rate shows that the economy is in deep crisis. Various other economic indicators show this as well. In a stark and chilling confirmation of what the whole country has known for some time, a govt. report shows that Indian workforce (those actually working) declined from about 54% of the working age population in 2011-12 to 51% in 2015-16. While the working age population increased by 2.9% per...
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