-The Telegraph In a remarkable development, for the first time in 20 years, currency in circulation (CIC) declined during Diwali week. With the increased acceptance of digital payments in the country, over-reliance on cash is slowly fading away. Over the years, the Indian cash-led economy has now changed to a smart-phone led payment economy, says a research note. In the report, Dr Soumya Kanti Ghosh, group chief economic adviser of State Bank...
More »SEARCH RESULT
Total Matching Records found : 30
Informal sector shrank sharply in 2020-21: SBI report -Vikas Dhoot
-The Hindu Informal workers continue to bear the brunt of pandemic’s adverse effects, says SBI report Signalling a greater shift towards formalisation of the economy, the share of the large informal sector in overall economic activity dipped sharply in 2020-21 even as informal workers continue to bear the brunt of the pandemic’s adverse effects, the SBI said in a research report. Concluding that the share of the informal economy may have shrunk to...
More »SBI report emphasises on vaccination, says nearly half of the new cases in rural India
-The Hindu ‘Economy taking a severe hit from 2nd wave; Growth hopes fading' The second wave of the COVID-19 pandemic has engulfed rural India, spreading far beyond the worst hit cities and districts, with nearly half the country’s new cases being reported from rural districts, an SBI research report said on Friday. Red-flagging the slowing vaccination pace from an average 28 lakhs per day in April to just 17 lakhs per day, the...
More »Demand for MGNREGA work spikes
-The Hindu ‘This indicates the extent of reverse migration from lockdown States to native States’ The demand for MGNREGA work so far in the month of April has increased to 2.57 crore households, 92% higher than a year ago, and a record high for April since 2013, as per State Bank of India (SBI) research. “This indicates the extent of reverse migration from the lockdown States to their native States,” SBI group chief...
More »The fiscal situation will not stabilise in 2020-21 unless consumption improves -Soumya Kanti Ghosh and Tapas Parida
-The Indian Express The Union budget should focus on enhancing credit flows to the small and marginal farmers, increase investment in health and education. The first advance estimates of GDP for 2020-21 are much better than the earlier market consensus and shows the inherent strengths of the Indian economy. The economy is expected to contract by 7.7 per cent implying a COVID-19 induced loss of Rs 9.61 lakh crore in real terms...
More »
