In the recent week, the Ministry of Rural Development (MoRD) has dealt three major, concerted blows to the National Rural Employment Guarantee Act (NREGA): (1) The Budget allocation for NREGA was reduced to just Rs 60,000 crore in 2023-24 (less than Rs 50,000 crore if we deduct wage arrears from 2022-23). This makes this year’s allocation the lowest as a proportion of GDP (0.2%) in the history of the programme. (2) The...
More »SEARCH RESULT
Total Matching Records found : 117
Mandatory digital attendance for MGNREGA will destroy scheme -Himanshu Nitnaware
-Down to Earth The central government has mandated digitally capturing the attendance of all workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGnregs). Labourers and activist groups have opposed this and pointed out several loopholes in the move. The National Mobile Monitoring System, which came into effect on January 1, 2023, was launched with claims of bringing transparency and eliminating corruption at the ground level. Pilot tests began in May 2021 at...
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 »No proposal to charge UPI payments, says FinMin -Shayan Ghosh
-Livemint.com The Centre put to rest speculation following a recent RBI discussion paper on digital payment charges MUMBAI: The finance ministry on Sunday said the government is not planning to charge for payments through the unified payments interface (UPI) channel, putting to rest speculation following a recent Reserve Bank of India (RBI) discussion paper on digital payment charges. “UPI is a digital public good with immense convenience for the public and productivity gains...
More »Can Unicorns Become Growth Engines of India’s Economy? -Shinzani Jain
-Newsclick.in The relatively new and fragile start-up ecosystem is not a solution to the larger problem of pauperisation of the working population of the country. In May 2022, a report in the magazine, The Economist, claimed that “a novel confluence of forces stands to transform India’s economy over the next decade, improving the lives of 1.4 billion people and changing the balance of power in Asia. Technological leaps, the energy transition, and...
More »
