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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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...
More »The number of Micro, Small, Medium enterprises that closed in 2022-23 was 6000% greater than two years ago - Parliamentary Question
Rajya Sabha 10,655 micro, small and medium enterprises (MSMEs) closed in 2022-23. That is a 6,088% increase over the number in 2021-22, with 175 closures. The data was revealed by the Ministry of Micro, Small and Medium Enterprises, Government of India as part of the response to a Parliamentary Question asked in the Rajya Sabha. The data was compiled from the Udyam registration portal, the Ministry's online portal for registrations and...
More »Big industries don’t observe uniform labour standards in India: Bharatiya Mazdoor Sangh at ILO meet -AM Jigeesh
-The Hindu BMS chief Hiranmay Pandya said workers face low wages, lack of job security and social security benefits, and had to suffer poor working conditions this year On the second day of the Asia Pacific Regional Meeting of the International Labour Organisation (APRM of ILO), representatives of workers and employers from India on Wednesday highlighted the employment situation in the country. While employers hailed the Union government’s steps to “help” workers...
More »Govt in advanced stage to launch Rs 3,500-crore PLI scheme for toy sector -Asit Ranjan Mishra
-Business Standard Dept in advanced inter-ministerial talks; schemes for bicycles, footwear to follow The industry department is in the advanced stage of inter-ministerial consultation for launching a production-linked incentive (PLI) scheme for both traditional and mechanical toys worth Rs 3,500 crore, which will be followed by PLI schemes for bicycles and footwear. “Discussions for PLI for toys are at an advanced stage. PLIs for bicycles and footwear are also under formulation,” a government...
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