Timely payment under the MGNREGA is essential as it is a demand-driven scheme.
'The feeling of love, brotherhood and composite culture exists among you all. I feel sad that the RSS and BJP are trying to break this culture,' Gandhi said in his address to Congress office-bearers and workers at a party function in Jammu on the second day of his two-day visit to Jammu.
She has been called again on Wednesday for a fresh round of grilling.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
'Usually, urban wage rates are 50 per cent higher than rural wage rates. But, this could be narrowing very rapidly now,' points out Mahesh Vyas, CEO, Centre for Monitoring Indian Economy.
The BJP calling the Congress a "torn old party" moving towards a stage where its relevance and necessity will be completely lost.
Sharing his experience of the yatra so far, the Congress leader said he felt sad while talking to farmers, youth, and tribals.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
He said the migrants and poor people had great expectations after the prime minister's address to the nation, but sadly...
Enclosing the money with a letter, the workers affiliated to the Gram Swaraj Mazdoor Sangh "expressed concern" at the "meagre" hike as they felt that the central government was facing "paucity of funds", otherwise the wages would have definitely increased in tune with Jharkhand's minimum daily wage which is Rs 212.
With the threat of a failed monsoon and an impending drought, the need for public works and for greater numbers of workers will arise in many states, says Aruna Roy
The corona-fuelled lockdown having shattered their dreams, they are now walking, cycling and hitchhiking hundreds of miles under an unforgiving sun blazing down at over 40 degrees to reach their homes in an impoverished Bihar, where an uncertain future awaits them.
The stimulus package is expected anytime this week and will be aimed at the urban and rural poor; disadvantaged sections of society; MSMEs and some of the worst-affected sectors.
SBI data shows the per-capita payouts for scheme have shot up this year.
Around 275,000 migrant labourers and their family members have returned to the state. According to the state government, this number could exceed 1 million by the end of this month. As the NDA government in Bihar is scheduled to face polls at the end of this year, providing livelihoods to these people is on the top Chief Minister Nitish Kumar's agenda.
In his address after more than 75,000 people were given appointment letters for various government jobs in the first tranche, Modi acknowledged the challenges facing the economy the world over with many countries hit by a record inflation and unemployment and said India is making every effort to come out of the situation unscathed.
Finance Minister Arun Jaitley said the actual spending under the scheme in the fiscal year ending March 31 "would be highest".
Ramesh's reply came when he was asked whether grants would be provided to Karnataka for the Mahatma Gandhi National Rural Employment Guarantee Act and Indira Awas Yojana as the state was now under the Congress rule.
India has much to be proud of and celebrate. But there is also much that is wrong, much that looks dangerous. Employment, current account deficit, rural distress, agricultural productivity are all in deep crisis, points out Shekhar Gupta.
The economy faces more downside risks now as economic disruptions arising from the second wave are likely to stabilise only from July, warned the Swiss brokerage USB Securities. Last month, the brokerage had cut its GDP forecast by 150 bps to 10 per cent for FY22, which though is much higher than the consensus projections by others with some pegging it at as low as 8 per cent. Though adverse impacts on sequential growth is less severe than in the June 2020 quarter when it plunged by 23.9 per cent, as lockdowns are more targeted and localised and households and businesses have adjusted to the new normal now, still, it is increasingly possible that normalcy returns only by July as against our baseline assumption of June.
'Aggressively stepping up vaccinations will constitute the most enduring stimulus of all in the coming quarters,' observes Sajjid Z Chinoy, Chief India Economist at J P Morgan.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
Many farmers in drought hit states are seeking MGNREGA work but the state government's coffers do not have enough fund to pay the salaries of these workers.
In his letter to Kumar, the veteran leader has made a series of suggestions including an amendment in Mahatma Gandhi National Rural Employment Gurantee Act, bringing Lord Buddha's begging bowl from Kabul and hoisting tricolor at Vaishali, the land of world's first Republic.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
According to the latest report from Stranded Workers Action Network (SWAN), a voluntary effort started in March 2020 to mobilise relief for stranded migrant workers, almost 92 per cent workers, whom the group contacted between April 21 and May 31, had not received any money from their employer. This was after restrictions were imposed and work had stopped. The survey, which was conducted among 1,396 worker groups, adding up to 8,023 people that included 4,836 women and children, showed that 76 per cent of the workers had less than Rs 200 left with them.
While Mizoram alleged that personnel of the Assam police fired on its civilians injuring one, the neighbouring state claimed that the men in uniform only returned the fire after miscreants from the other side of the border sprayed bullets on them.
It is important to increase employment in general. It is even better to increase good quality jobs. Strategically, it is important to move people from farms to factories to improve overall labour productivity. It is important to improve job opportunities for women, for urbanites and for the educated. The Budget does not contain ideas to do any of this, points out Mahesh Vyas.
In a statement, Gandhi urged Prime Minister Narendra Modi and the government to increase the number of testing facilities across the country and make public the details of hospitals and medical facilities through a dedicated portal.
Ramesh wants Maharashtra to be a pace setter.
The Indian FMCG industry has recorded a 9.4 per cent growth in the January-March quarter of 2021, helped by a consumption-led growth and value growth by increased prices of products, especially of staples, said data analytics firm Nielsen. The rural market continued to perform with strong growth of 14.6 per cent during the period and the metro markets have registered a positive growth after two quarters. Fast Moving Consumer Goods (FMCG) industry sales growth from the traditional trade channels jumped to double digits, while growth in e-commerce normalised down to single digits in the January-March quarter.
The party also promised to end the mafia raj by creating corporations for the sale of liquor and sand mining.
Evidently, households see a brighter future after the Budget, reveals Mahesh Vyas.
With the government revising wages under MGNREGA, it could be another pressure point for rising inflation, if appropriate policy action to address the demand-supply gap is not in place, said the Reserve Bank of India (RBI) on Monday.
Under the Mahatma Gandhi National Rural Employment Guarantee Act, a worker is entitled to Rs 100 per day for minimum of 100 days in a year.
The government's ambitious rural employment project MGNREGA has come under the scrutiny of the Supreme Court which today said money was not reaching real beneficiaries and in many cases going to wrong hands.
Congress' senior spokesperson Anand Sharma Sharma said Prime Minister Narendra Modi must 'walk the talk' and announce the measures required by giving money in the hands of the poor and small and medium enterprises to help reboot the economy.
In the short run, the government should loosen the purse strings but trying to invent new instruments is a bad idea, Banerjee said. Trust, he said, in the system is important at this point and keeping that in mind.
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