-PTI/ The Indian Express "India's GDP is expected to contract by 9.6 per cent in the fiscal year that started in March," the World Bank said in the report released here. Washington: The World Bank on Thursday said that India’s GDP is expected to contract by 9.6 per cent this fiscal which is reflective of the national Lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic,...
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Maharashtra: Sudden micro Lockdowns led to labour losses, spike in unemployment, says report -Sandeep A Ashar
-The Indian Express In a presentation made to Chief Minister Uddhav Thackeray and senior ministers in a meeting on Monday, the state finance department claimed that the unemployment rate had climbed from 3.9 per cent in July to 6.2 per cent in August. Mumbai: A spike in Maharashtra’s unemployment rate in August is threatening the revival of the Covid-hit economy, a government report has said. In a presentation made to Chief Minister Uddhav...
More »Contain contagion, spend smartly says Joseph Stiglitz
-The Telegraph The Nobel laureate economist described 'India as a poster child of what not to do' Nobel laureate economist Joseph Stiglitz made a strong case for spending money to combat the long-term economic damage of the pandemic, saying that India would be well advised to focus on containing the contagion as the economic aftermath cannot be tackled without tackling the pandemic. Bracketing India with Brazil and the United States for its “utter...
More »Workers returning to Delhi post-Lockdown stare at joblessness -Ashok Kumar Soibam and Rocky Singh
-The Hindu Several workers returning to Gurugram and Delhi from their home towns after the Lockdown discover their employers have already filled their positions Vijay Mishra, a chhole-poori vendor on Jharsa Road in Gurugram, is the odd man out among a row of fruit sellers. The 38-year-old makes ₹200-₹300 daily, not even half of what he used to earn at his job in Maruti Suzuki India Limited before the Lockdown. Like thousands of...
More »Three Farm Bills and India’s Rural Economy -Vijay Jawandhiya and Ajay Dandekar
-TheWire.in With low levels of farmers' income and a lack of assured price mechanism, what impact will the three farm bills have in the long term on India's agrarian economy. Here's an analysis. Last week, the Union government passed three bills to replace the three ordinances that were enacted during the COVID-19 Lockdown. These three bills, expected to bring revolutionary changes to agrarian context and help double farmers’ incomes are: The Farmers’...
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