-Livemint.com Consumer confidence indices, an output of RBI survey of 5,300 households spread across 13 cities, fell to a historic low in May. The future expectations index dropped to 97.9 in May from 115.2 in March MUMBAI: As the covid-19 pandemic continues to spread, India’s economy has lost its main engine of growth: consumption. A survey by the country’s central bank shows how stark is the pessimism among Indians. It also gives various...
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Urban unemployment up, rural picture better -Basant Kumar Mohanty
-The Telegraph Seasonal sowing, MGNREGA boost prospects The grim employment scenario in urban India got aggravated while the rural sector showed some improvement in the last week of May, with researchers attributing the uptick in the villages to seasonal sowing activities and increase in work under the MGNREGA while calling the overall condition critical. Data released by private research group Centre for Monitoring Indian economy (CMIE) show that the unemployment rate for the...
More »India let 65 lakh tonnes of grain go to waste in four months, even as the poor went hungry -Vikas Rawal, Manish Kumar, Ankur Verma and Jesim Pais
-Scroll.in ‘In a period when people have been dying of hunger, the government has increased the amount of grain it is hoarding in its godowns.’ Instead of using its grain stocks to feed the poor and hungry during the coronavirus-lockdown crisis, the Indian government is letting this food rot in its godowns. The government does not have proper storage facilities for stocking such a large amount of excess grain. Since much of...
More »Modi 2.0: Dark clouds have engulfed the nation -Sitaram Yechury
-Hindustan Times The government has undermined secular democracy; social justice; federalism; and economic self-reliance Surreal is, perhaps, the only way to describe marking of the first anniversary of the Modi 2.0 government. As the government data detailing the pre-coronavirus disease destruction of the economy and the consequent ruination of crores of lives during the last year was being released, Prime Minister (PM) Narendra Modi was writing to all of us describing the...
More »12-year low -- and Before Covid
-The Telegraph 2019-20 economic growth tumbles to 4.2% India’s economic growth has tumbled to a 12-year low of 4.2 per cent in 2019-20. What is even worse is that this statistic barely reflects the impact of the coronavirus-induced lockdown, which has silenced the clangour in its factories for over two months. The lockdown began on March 25 — barely a week before the close of the financial year. “Due to a contraction in investment of...
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