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Indian Economy

The Fiscal Challenges of the Realization of Workers’ Rights: Do They Exist?

For the past 36 years, banks' pensions have not been upgraded. No social security, like universal basic income, is considered. The vast majority of unorganised sector workers (94%) do not have access to provident...

Read more December 23, 2022 at 4:43 pm Thomas Franco

When less than 4% of Indian dollar millionaires pay income tax

In FY18, the last year for which disaggregated income tax data is available, only 29,002 ITRs declared income above Rs 5 crore, while Credit Suisse said India had 7.25 lakh dollar millionaires (the wealth...

Read more December 21, 2022 at 5:07 pm Prasanna Mohanty

No escape from the lower-middle income trap, at least not yet

A 17% credit growth in the first quarter of November 2022 means little since personal loans continue to dominate over loans to industry, particularly large industry. In September 2022, the CFA explained how India’s...

Read more December 12, 2022 at 6:28 pm Prasanna Mohanty

Need for Environment and Social Safeguard Policy for Indian Financial Institutions

The handbook on ‘Need for Environmental and Social Safeguards for Financial Institutions’ makes a case for implementation of safeguards mechanisms in financial institutions (FIs) which includes banks and non-banking FIs.

Read more December 10, 2022 at 5:58 pm Priya Dharshini and Amitanshu Verma

PM-Kisan: Who and how many are getting income support of Rs 6,000?

Surely, the Center doesn’t know; had that not been the case, it wouldn’t be giving multiple sets of data, all of which contradict each other. One true “master stroke” that helped the Modi government...

Read more December 2, 2022 at 4:31 pm Prasanna Mohanty

While the RBI was sleeping…

Nearly a month after Maruti Suzuki chairman RC Bhargava raised a stink by saying that people’s ability to buy small cars has eroded and would continue to decline next year and national dailies reported...

Read more November 23, 2022 at 12:39 pm Prasanna Mohanty

EWS Quota: Can targeting 90% of Indians be called reservation, affirmative action or positive discrimination?

Until now, reservation was prompted by the perennial caste-based discrimination system, which has pushed a significant population into multiple deprivations; upper castes suffer no such handicap.

Read more November 10, 2022 at 9:31 pm Prasanna Mohanty

From Desperation to Destitution to Despair

The callous and unwarranted announcement of demonetisation in November 2016 was one of the cruellest blows to the majority of India’s citizens, compelling them to plunge from what was already a life of desperation...

Read more November 8, 2022 at 5:16 pm Ritu Dewan

IDBI Privatisation: Betrayal with Parliamentary Mandate & Mandate of the Constitution

After getting independence in the year 1947, India adopted the process of planning for the economic development of the country. As soon as it became a republic, in 1950, the first five-year plan was...

Read more November 7, 2022 at 10:59 am Devidas Tuljapurkar

GM food is back on the table

Genetically modified food is back in the news after the regulator Genetic Engineering Appraisal Committee (GEAC) recommended “environmental release” of GM Mustard, billed as an indigenously developed transgenic hybrid or a “swadeshi” product, on...

Read more October 31, 2022 at 12:00 pm Prasanna Mohanty

How the CSR is being systemically killed

While there is no way of knowing if companies are really spending 2% of their net profits, the Centre has removed critical disclosure norms, making CSR activities entirely opaque and unaccountable Having diluted corporate...

Read more October 28, 2022 at 2:49 pm Prasanna Mohanty

The Global hunger Index – India denying its own data!

The Global Hunger Index has placed India at 107th position below Pakistan, Nepal and even Sri Lanka. The Indian government reacted with a strong rebuttal, alleging flawed data collection, poor methodology and conspiracy to...

Read more October 26, 2022 at 10:43 am CFA

Why is India crying foul over worsening hunger?

The Global Hunger Index 2022 relies on India’s official data in two of the four indicators, gives extra marks in the third and for the fourth, it relies on FAO’s survey while India has...

Read more October 18, 2022 at 4:21 pm Prasanna Mohanty

Hanuman’s leap: Why India’s firms aren’t making investments despite Nirmala Sitharaman’s pleading 

Industrialists will only invest when it they see returns and it makes business sense. In Kishkinda Kanda, the fourth book of the epic Ramayana, the wise Jambavan reminds Hanuman of his own strength. As...

Read more October 11, 2022 at 2:40 pm Anirban Bhattacharya

India added a whopping 79% to the global ‘extreme poor’ in 2020

Shockingly, World Bank estimated this using a private firm CMIE’s surveys, because Indian government wouldn’t collect household consumption data, lest it reveals the ugly truth

Read more October 10, 2022 at 2:08 pm Prasanna Mohanty
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