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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34 Million or 373 Million: Do We Know How Many In India Are Poor? - Nushaiba Iqbal
IndiaSpend There are at least five estimates of the number of poor people in India, which put the number of poor in India between 34 million--equivalent to the population of Kerala--to 373 million--more than four times the population of West Bengal. This puts the number of the poor between 2.5% of the population to 29.5%, based on different estimates between 2014 and 2022. Economists have arrived at these estimates through various means, including projections...
More »Wheat Prices Heat up, Raising Inflation Fears - Puja Das, Ravi Dutta Mishra
Livemint Wheat prices have started climbing again despite the government launching open market operations to reain in prices of the crucial commodity due to the unseasonal rains in key what-producing states. Wheat prices had shot up by 15% in 2022 accoding to the Ministry of Consumer Affairs, Food & Public Distribution, even before the OMOs. This comes as retail inflation continues to hover above the Reserve Bank of India's upper tolerance level,...
More »Average employment days under MGNREGA could be at three-year low in FY23 - Parvathi Benu
The Hindu Businessline The average days of employment per household under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in FY23 are likely to be lower than in the last two fiscal years. This is according to the analysis of the data the Ministry of Rural Development put out. Data until March 6 show that the average days of employment under the Act was 45 in FY23. An extrapolation of the...
More »Banks eye Rural loan growth to push credit-deposit ratio - Mihir Mishra, Shayan Ghosh
Mint India’s rural borrowers and small businesses owners may have easier access to credit with public sector banks (PSBs) planning to increase financing to these segments, after the Union finance ministry urged lenders to improve their credit-deposit ratio. The C-D ration indicates how much of a banks' deposit base is being utilized for extending loans. The development may help expedite the revival of the rural economy, which is struggling to reach pre-covid...
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