-CBGA Blog India presented its latest Union Budget (for FY 2022 -23) in early February amid much hope, as the country is still reeling from the aftermath of Covid-19 pandemic, which has lasted for two years. To deal with the pandemic induced socio-economic crisis, countries across the world have been announcing policy measures outside of their annual budgets. The Indian government, too, made many such announcements, but given the scale of the...
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Step up agri-spending, boost farm incomes -Poornima Varma
-The Hindu India’s poor AOI is a stark reminder of the need to attain a key sustainable development goal of higher agri-growth While the overall budgetary allocation towards the agricultural sector has marginally increased by 4.4% in the Union Budget 2022-23, the rate of increase is lower than the current inflation rate of 5.5%-6%. The Food and Agriculture Organization (FAO) of the United Nations (UN) report for 2001 to 2019 shows that,...
More »A recipe to deepen the distress in rural economy -Himanshu
-Livemint.com Rural economy has to deal with declining incomes and rising cost of essentials The general consensus on the state of the Indian economy can be summarized as follows: The economy has been in a deep crisis even before the pandemic-led disruptions. Second, the crisis is not a result of supply constraints but is a result of demand deficiency, particularly in the rural economy. Recent evidence suggests that the impact of the slowdown...
More »MGNREGA demand dropped from June 2020 peak, but still higher than pre-COVID: Eco Survey -Priscilla Jebaraj
-The Hindu High demand in migrant destination States, not source States: it says Demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme has dropped from the peak of the first lockdown, but is still higher than pre-COVID levels, the Department of Economic Affairs said in its annual Economic Survey, noting that this is “an indicator of rural labour markets”. However, it cautioned against drawing conclusions about the movement...
More »GDP Numbers: What’s Wrong With How India Measures Manufacturing Output Data -Kaushal Shroff
-TheWire.in A claim of an 8.4% real GDP growth rate has little relevance even as rural India battles plummeting wage levels, depleted incomes and widespread unemployment. With the release of the GDP figures for the quarter ending September, the government machinery has been in full swing advancing the narrative that economic growth is indeed back on track. However, sorely missing from these narratives is the inconvenient factoid on the currently dismal state of...
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