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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NSSO Survey: Only 39.1% of all Households have Drinking Water Within Dwelling, 46.7% of Rural Households use Firewood for Cooking
The National Sample Survey Organization's Multiple Indicator Survey - part of the 78th round - has revealed that only 39.1 percent of all Indian households have access to drinking water within the dwelling. When it come to cooking, 46.7% of rural households use firewood. These are some of the findings of the survey whose purpose was to collect data about the indicators of Sustainable Development Goals. Data was collected for households...
More »Financial Inclusion of MSMEs and its impact on society -Hardika Shah
-The Hindu Business Line Why access to capital for MSME entrepreneurs has the potential to alter India’s social fabric India’s social fabric has undergone a series of transformations since Independence. After the liberalisation of the economy in the 1990s, the market opened up and employment opportunities grew, as did the spending power and standard of living of the average Indian. As financial access grew, so did social mobility. However, certain sections have lagged...
More »Inclusion success
-The Hindu Business Line The Centre should build on the success of PMJDY to promote other financial products for the lower sections of society As the Pradhan Mantri Jan Dhan Yojana (PMJDY) completes its eighth year, it is becoming increasingly clear that this is a rare State-initiated welfare scheme that has not just met but exceeded its initial promise. That the scheme has made a material difference to Financial Inclusion is evident...
More »Public sector banks have ensured Financial Inclusion, finds a new empirical study
Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
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