KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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E-rupee transactions will not be tracked
-The Telegraph Many experts, including former RBI governor D Subbarao, have flagged concerns over the privacy aspect of CBDC Mumbai: The RBI on Wednesday said the central bank digital currency (CBDC) will remain anonymous and regulations that are applicable to paper currency will prevail on the e-rupee. Earlier this month, the RBI had begun a pilot for the retail digital rupee after it launched another project for wholesale digital rupee among financial institutions. Many...
More »First Time in 20 Years, Currency in Circulation Declines in a Busy Diwali Week: SBI
-The Telegraph In a remarkable development, for the first time in 20 years, currency in circulation (CIC) declined during Diwali week. With the increased acceptance of digital payments in the country, over-reliance on cash is slowly fading away. Over the years, the Indian cash-led economy has now changed to a smart-phone led payment economy, says a research note. In the report, Dr Soumya Kanti Ghosh, group chief economic adviser of State Bank...
More »Is the govt. doing enough for the Jan Aushadhi scheme?
On Janaushadhi Diwas this year (i.e., March 7th, 2022), Prime Minister Shri Narendra Modi stated that the poor and the middle-class benefited from the 'Jan Aushadhi Kendras' that were set up to provide generic drugs at affordable prices. He said that the poor and the middle class saved around Rs.13,000 crore through these stores during the COVID-19 pandemic. In the wake of COVID 19 crisis, the 'Bureau of Pharma PSUs of India'...
More »As migrant workers return to work, domestic remittances rise -Surabhi
-The Hindu Business Line The trend signals normalisation of economic activities to pre-Covid levels With economic activities reverting to normal on most fronts, domestic remittances by migrant workers, too, has touched pre-Covid level and in fact is even higher, according to payment players. “Things have got back to normal, we see a lot of activity in the market. People have gone back to jobs and continue to send money. That market continues to...
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