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 »Indian startups fired 10,000 employees from October to January - Prachi Verma
Economic Times With investors tightening their purse strings because of the volatility in the global economy, many unicorns and startups such as Byju’s, Swiggy and Ola have slowed down hiring or even resorted to firing employees. Startups in India fired about 6,000 employees in October-December 2022 and another 4,000 or so in January 2023, the Economic Times reported, citing a report by CIEL Human Resources services. Many unicorns and startups like Byju's, Swiggy...
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...
More »Adivasis at bottom rung of India’s development pyramid, finds Tribal Development Report 2022 -Shuchita Jha
-Down to Earth India’s tribal communities have been pushed away from alluvial plains and fertile river basins, into the harshest ecological regions, the report notes India’s tribal communities form 8.6 per cent of the country’s population according to the 2011 Census. But they are at the bottom of the country’s development pyramid even after 75 years of independence, according to a new report released November 28, 2022. The Tribal Development Report 2022,...
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