-The Financial Express The one irrefutable lesson from MGNREGA, is that once introduced, there will be no going back India is one of the most unequal countries in the world. In terms of Gini coefficient, i.e., measure of income inequity, India ranks a dismal 135 out of 187 countries. This means that most of the prosperity that an increasingly economically liberalised India is seeing, belongs primarily to the top-income percentiles. One in...
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Dr. Kavita Rao, professor at National Institute of Public Finance and Policy (NIPFP), interviewed by Supriya Sharma (Scroll.in)
-Scroll.in The author of a paper published by a research institute under the Ministry of Finance expands on its conclusions. The drying up of cash has thrown the lives of millions of Indians in disarray. But many facing hardship support the government’s move. In Barabanki, Uttar Pradesh, a farmer who did not have cash to buy seeds and fertilisers, said, “Now when rich people deposit money in the bank, the income tax people...
More »Missing stock is harming our food security
-Livemint.com Spoilage and pilferage are not something the country can afford given its low ranking in the hunger index The Reserve Bank of India (RBI) recently approved a proposal to restructure around Rs30,000 crore of food credit given to Punjab state agencies, allowing for the conversion of cash credit into a 20-year loan at a lower interest rate. The central bank also sanctioned a cash credit limit of Rs26,000 crore for this...
More »Government can now fix retail prices of essential commodities
-PTI This rule will apply to essential commodities that are sold both in loose and packaged form in retail markets To check inflation, the government has amended the metrology rules which would allow it to fix retail prices of essential commodities like pulses and sugar in extraordinary situations. Under the present system, retail prices are fixed by market forces, leaving very little room for the government to check undue spike in prices. “We have...
More »Why has inflation moderated in India? -Sajjid Z Chinoy
-Livemint.com Contrary to popular perception, it’s not because of good luck or necessarily a large growth sacrifice; policymakers deserve more credit than they get One of the most visible macroeconomic successes in India over the last three years has been the sustained moderation of headline consumer price index (CPI) inflation. CPI (industrial workers) averaged 9.5% for six years between 2007 and 2013. For the last 30 months, however, it has averaged...
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