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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Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »How India’s rulers have dashed the hopes of its younger citizens -Santosh Mehrotra
-Scroll.in Increasing unemployment is a major cause for concern. Politicians constantly talk about India being a young country, since two-thirds of the population is under 35 years of age and half of it below 26. Some economists consider this an automatic boon for the economy, since there is a limitless number of workers who could contribute to India’s productive capacity. Finance and investment giant Morgan Stanley, in a report released in November, identified...
More »Can India’s production incentive scheme transform the economy as the SEZ push did for China? -Siddhant Bajpai
-Scroll.in The Indian government will have to take serious note of the structural problems and bottlenecks to work on improving the production-linked incentive scheme. On December 20, the Indian government approved a Rs 357.17-crore incentive for Foxconn India, under the Production-Linked Incentive scheme for the Large-Scale Electronics Manufacturing sector. According to government think tank Niti Aayog, Foxconn India is the “first global company” approved under the scheme for mobile phones and to receive...
More »The importance of affordable healthcare for all and other key lessons from the pandemic -Chapal Mehra & Lancelot Pinto
-Scroll.in It is important to learn from the Covid-19 crisis and transform policies and systems. Or we are destined to repeat our mistakes? Humans tend to limit memories of horrors faced in the past as a coping mechanism. In our hurry to return to normalcy, as the world and India learns to live with Covid-19, we should not forget the lessons this crisis taught us. The most important of these is the...
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