The Niti Aayog recently released its National Multidimensional Poverty Index 2023, according to which the poverty headcount ratio declined from 24.85 percent in 2015-16 to 14.96 percent in 2019-21. In absolute numbers this translates to 135 million people exiting multidimensional poverty in this time period. In addition, a few days earlier, the United Nations Development Programme (UNDP) released its own Multidimensional Poverty Index, which in a press note said that,...
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Poverty and inequality
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...
More »How will Indian Cities Fare if a Turkey-like Earthquake Strikes the Subcontinent?
On 6 February, 2023 Southern Turkey and the adjoining areas in Syria were hit by a 7.8 magnitude earthquake followed by several aftershocks. The tremors have flattened buildings and destroyed roads and other infrastructure. At least 35,000 casualties (UPDATE) have occurred across Turkey and Syria, with the vast majority being in the former nation. A news report cited the Turkish environment minister saying that 24,921 buildings across the region had collapsed. What...
More »Budget Briefs: FY 2022-23 PM Awas allocation doubled, 77% houses completed - Neeha Susan Jacob, Anwesha Mallick, Avani Kapur
Accountability Initiative, Centre for Policy Research In Financial Year (FY) 2022-23, Government of India (GoI) allocated Rs 20,000 crore Budget Estimates (BEs) for the PM Awaas Yojana - Gramin, slightly lesser than the previous year’s Revised Estimates (REs). With an additional amount of Rs. 28,422 crore allocated as supplementary budget in December 2022, revised allocations stand at Rs 48,422 crore. This is more than double the previous year’s REs. In the first...
More »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...
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