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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India posts GDP Growth of 6.1 % in fourth quarter, 7.2 % in FY23 - The Tribune
India continues to maintain its streak of world-beating economic growth after GDP for the March quarter beat all expectations with a 6.1 per cent expansion that helped push the annual growth rate to 7.2 per cent. After this, the Indian economy is now USD 3.3 trillion in size. Asia’s third-largest economy beat all estimates to grow at 6.1 per cent in January-March, the last quarter of the 2022-23 fiscal, up from...
More »Rural Consumption Stays Sluggish; Weather poses risk to recovery - Gireesh Chandra Prasad
Livemint While India staged a double-digit rebound in household consumption in FY22 which is set to expand at over 7% this fiscal, experts point out that India’s consumption story has a weakness — rural folk tightening their belt in the face of inflation. The silver lining is that the worst may be over, unless El Nino conditions disrupt the arrival of the rains and dampen a consumption revival, experts said. Gross domestic product...
More »Oct-Dec Quarter GDP slows to 4.4% as manufacturing shrinks - Tanya Krishna
Financial Express India's gross domestic product in the October-December, 2022 quarter is estimated to have grown at 4.4 percent year-on-year, slowing down from the previous two quarters, and a tad slower than expected, mainly as manufacturing activity took a hit, and favourable base faded away, government data showed on Tuesday. India’s GDP at constant prices in Q3 of FY 2022-23 is estimated at Rs 40.19 lakh crore, the Ministry of Statistics...
More »Expand PDS to include non-ration card holders and 10 crore excluded by using old census figures: Right to Food Campaign
A coalition of civil society activits has criticized the Union Budget 2023-24 for reducing government spending on the social sector by a massive amount. The economic crisis induced by the Covid-19 pandemic was borne disproportionately by those at the bottom of the pyramid and in this context spending on social protection schemes such as the Public Distribution System, anganwadis, pensions and MGNREGA is especially important. But the Government of India has...
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