-The Hindu Financial packages in place as early as March, court told The Centre took strong objection to averments made in the Supreme Court on Thursday that it would not have budged to protect borrowers from financial ruin triggered by the COVID-19 Lockdown, had the court not intervened on time. Appearing before a Bench led by Justice Ashok Bhushan, Solicitor General Tushar Mehta said submissions like that were painted in “political colour”. Mr. Mehta...
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The need for ‘maximum government’ -Rohit Azad
-The Hindu The current crisis has provided us with an opportunity to rethink our health, economic and climate policies In the new set of relief measures announced by the Finance Minister, job creation has moved to the forefront. This shows that the government has finally accepted that the unemployment rates are very high, a fact it has so far been suppressing or dismissing. This is a welcome change given its usual ostrich-like...
More »Women out of work: ‘We were moving up the ladder and ab lagta hai kisi ne seedhi chheen li’ -Somya Lakhani
-The Indian Express The Covid Lockdown has set off sweeping economic distress in cities but its crucial dimension has remained untold: the silent, devastating toll on the working woman in the city suddenly out of work *A month into the Lockdown after she lost her job at an energy policy institute that paid Rs 24,000 a month, 29-year-old Reshma, a post-graduate in social work, sent her four-year-old daughter to live with her...
More »Odisha Migrant Workers Return To Gruelling Shifts, Poor Wages -Sunaina Kumar
-IndiaSpend.com New Delhi: In mid-October, machinist Bipin Ramesh Sahu, 38, was flown back to Surat from his southern Odisha village by his former employer, a textile mill owner. Sahu, among the 6.7 million migrant workers to lose their jobs and return home during the Lockdown in India, assumed that his employer’s eagerness to re-employ him meant better living and working conditions in Surat--more humane shifts, safety gear, wage cheques instead of...
More »Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
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