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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Guidelines for farmers' subsidy to be revised - PTI/Economic Times
The Centre will introduce new guidelines for releasing subsidies to farmers for the purchase of farm machinery and tools, Union Minister of State for Agriculture and Farmers Welfare Shobha Karandlaje has said. A major portion of the subsidy is at present set apart for the purchase of tractors and farmers are not able to purchase other farm machineries and tools required for their daily work, she said. The minister asked youth...
More »Economic Survey 2022-23 Highlights inflation risks and Rupee depreciation pressure on Indian Economy
The Economic Survey 2022-23, released today, has flagged threats to the Indian economy, even as it forecasts a GDP growth rate of 6.5% for the next fiscal year. The survey has said that the challenge of the Indian rupee depreciating remains. "However, the challenge of the depreciating rupee, although better performing than most other currencies, persists with the likelihood of further increases in policy rates by the US Fed". What...
More »What is in store for India’s imports?
There is some respite expected for India in terms of prices of imported commodities. This may ease the depletion of its foreign exchange reserves. The country has faced a widening of its merchandise trade deficit from US$ -17.91 billion to US$ -26.91 billion between October 2021 and October 2022. The commodity price data provided by the World Bank in December 2022 (termed as The Pink Sheet) shows that energy prices plummeted by...
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...
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