A coalition of civil society activits has criticized the Union Budget 2023-24 for reducing government spending on the social sector by a massive amount. The economic crisis induced by the Covid-19 pandemic was borne disproportionately by those at the bottom of the pyramid and in this context spending on social protection schemes such as the Public Distribution System, anganwadis, pensions and MGNREGA is especially important. But the Government of India has...
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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 »Fact check: Is natural gas just as responsible as coal for global warming, as Union minister claims? -Divyani Dubey
-Scroll.in In theory, natural gas is 'cleaner' than coal, but while producing the gas a certain amount of methane ( a greenhouse gas) leaks into the atmosphere. RK Singh, the Union Minister for Power, New and Renewable Energy, said on December 5 that natural gas is just as responsible as coal for global warming, if not more. “In COP26 they added a line, they wanted to add… phase-out of coal. But thereafter India...
More »Core sector output rises by 5.4% in November vs 3.2% YoY: Govt data
-PTI/ Business Standard Production of eight infrastructure sectors like coal, fertiliser, steel, cement and electricity increased by 5.4% in Nov against a 3.2% growth in the same month last year, according to official data Production of eight infrastructure sectors increased by 5.4 per cent in November against a 3.2 per cent growth in the same month last year on a better show by coal, fertiliser, steel, cement and electricity segments, according to...
More »Latest Christian Aid report identifies top 10 climate disasters of 2022
-Press released by Christian Aid dated 27 December, 2022 * Study identifies the year’s 10 costliest extreme events influenced by the climate crisis - each caused more than $3 billion in damage. * Report also examines 10 other extreme events that caused massive human and environmental damage, mostly in the poorest countries. * The floods that submerged parts of Pakistan in June displaced 7m people and caused more than $30 billion in estimated...
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