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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Limited Room for Public Spending - Santosh Mehrotra
- Financial Express The Union Government will present its ninth and last full budget before national elections in early 2024. But none of the growth engines inspire optimism, Santosh Mehrotra writes in Financial Express. Nearly 60 percent of India's GDP is accounted for by private onsumption expenditure. However, since demonetisation consumer expenditure has been tepid as job growth fell sharply. Per capita consumption in 2022-23 is just above the level of 2019-20. Private...
More »Health account numbers that require closer scrutiny -Indranil
-The Hindu The reduction of out-of-pocket expenditure that the NHA highlights is essentially due to a decline in utilisation of care Low public spending on health in India has meant that people depend heavily on their own means to access health care. It causes rich-poor, rural-urban, gender and caste-based divides in access to health care, pushes people to poverty, and forces them to incur debt or sell assets. As a result, our...
More »A collage of laws that leaves the worker out in the cold -Santosh Mehrotra and Kingshuk Sarkar
-The Hindu The universalisation of social security remains an unfulfilled aspiration in the new code on social security As COVID-19 destroys lives and livelihoods, an unprepared government has rendered low-paid, informal workers, who constitute 91% of the workforce, totally hapless, pushing them further into poverty. Imagine if these same informal workers had social security (including free basic curative care in public clinics and hospitals, the elderly had old age pensions, the dying...
More »During COVID-19 pandemic, India’s debt to GDP ratio increased from 74% to 90%, says IMF
-PTI/ The Hindu In 2020, fiscal policy also contributed to mitigate falling economic activity and employment. India’s debt to GDP ratio increased from 74% to 90% during the COVID-19 pandemic, the International Monetary Fund has said, noting that it expects this to drop down to 80% as a result of the country’s economic recovery. Paolo Mauro, Deputy Director, IMF’s Fiscal Affairs Department told reporters at a news conference here on Wednesday, “In the...
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