INDIA
In the centre-state ping-pong, workers suffer as NREGA slips through the cracks
With thousands of crores in unpaid wages and many other serious gaps in implementation, NREGA remains more on paper than in practice.
BUSINESS
From airlines and tyre-makers to auto-component manufacturers, industries feel the heat from a weak rupee
While the government has been at pains to point out that the Indian currency has appreciated against other major currencies like the euro and the Japanese yen, some industries are set to face headwinds with a major spike in input costs.
BUSINESS
Ethanol blending cheers sugar producers, already lifted by rising demand
Taking the cue from the government’s roadmap for ethanol blending with petrol, many sugar manufacturers have already lined up the significant expansion of the renewable fuel.
AUTOMOBILE
Why are fresh allegations of fraud surfacing against Amtek Auto after resolution process is complete?
A whistleblower has alleged frauds and diversion of Rs 12000 crore at Amtek Auto. They have sought an investigation into the alleged siphoning funds by ‘key managerial persons’ of Amtek Auto in criminal conspiracy with bank officers.
BUSINESS
Urea imports may fall in 2022-23, but fertiliser subsidy bill will be bigger
The government’s fertiliser subsidy bill is likely to expand significantly in the current fiscal year as well as in 2022-23, in line with a trend that has seen the actual outlays exceed budget estimates
ECONOMY
Explainer: How India is trying to reduce reliance on imported fertilisers
India’s fertiliser imports had been rising even before the Russia-Ukraine conflict due to pandemic-related disruptions. With low self-sufficiency, volatility in global fertiliser supplies will have a major impact on India.
BUSINESS
Sluggish bankruptcy resolution takes a heavy toll on creditors
Creditors lost at least three-fourths of their investments in 35 stressed companies whose insolvency cases were resolved in the December quarter of 2021. The realisation percentage in the last quarter of calendar 2021 has been the lowest yet
BUSINESS
India looks towards Canada, Jordan for fertilizers as Russia-Ukraine conflict derails imports
India depends heavily on imports for meeting its fertiliser needs; With low self-sufficiency, volatility in global fertiliser supplies is bound to have a significant impact on the country.
ECONOMY
No unemployment allowance, delayed payments, paucity of work: Parliamentary panel decries state of MGNREGS
Expressing concern over poor implementation of the government’s flagship rural employment scheme, the panel said it is high time MGNREGS was revamped, keeping in view changing times and new challenges in the wake of the Covid-19 pandemic.
BUSINESS
Union Budget 2022 | Farm sector hails generous MSP, fertiliser sops, vows of doubling income
While the Budget 2022 lined up steps that will increase the farmers’ income 'substantially', there was no clarity about the desired income level which would have proved that the incomes did actually double
BUSINESS
Budget 2021| Allocation for agriculture department flat at Rs 1,24,000 crore
Budget 2022 was being watched for allocations the government would make to the politically significant sector, subsidies and spending focus in view of the farm law rollback and forthcoming assembly elections
BUDGET
MNREGS allocation unchanged despite elevated work demand, rural housing yet to pick up pace
The programme has perennially been short of funds, with expenditure overwhelming the funds available. The pending liabilities in terms of overdue wages have been rising in the past few years
BUSINESS
Budget 2022 | Rural development ministry allocation increased by just 3.36% to Rs 135,944 crore
For MNREGS, the rural employment guarantee scheme, the budgetary allocation has remained equal to last fiscal’s at Rs 73,000 crore despite RE for FY22 coming in at nearly Rs 98,000 crore.
ECONOMY
Demand for work under MGNREGS remains elevated; rural housing target missed
The budgetary allocation for MGNREGS in FY22 increased to Rs 73,000 crore from Rs 61,500 crore in FY21 and further to Rs 98,000 crore (so far). Since the allocation has not even reached the Rs 1 lakh crore mark, it is unlikely that the outlay will be tripled in FY23, as sought by activists.
ECONOMY
Economic Survey 2022 | No space for farmer protests, farm sector reforms
The government had promised to double farmers’ income by 2022. However, it finds no mention in the survey. It exhorts farmers to focus more on allied activities, like animal husbandry and fishing, than on crop cultivation to boost income. While this is good advice, it is neither new nor path-breaking.
BUSINESS
Doubling farmers' income by 2022 a goal within reach?
There is no data after AY2018-19 on average income of farming households and the pandemic has probably worsened last-mile delivery of several schemes the Centre has over the years said it would augment income of farmers
BUSINESS
Elevated demand for work, missed rural infra targets: Centre may hike allocation for rural development
A parliamentary standing committee has flagged several overarching issues plaguing implementation of welfare schemes under the department of rural development at a time when income disparity between the haves and have-nots has widened.
TRENDS
Budget 2022: Activists seek highest ever allocation for MNREGS at Rs 1.5 lakh crore to tackle rural distress
As per mandate, MNREGS is to provide at least 100 days of guaranteed wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work. The growth in demand for works under MNREGS for the second year in a row and ahead of the demand seen in the pre-pandemic year of 2019-20 underlines significant rural distress.
BUSINESS
Multiple agencies, myriad laws, copious documentation: Why a National Logistics Policy is critical to boost exports
Since 2019, the government has been discussing a national policy that would ease logistics bottlenecks through a coordinated response. But the policy has not been announced until now. A parliamentary panel has now questioned the ministry over the inordinate delay and sought an action-taken report
BUSINESS
Explained: Why air cargo handling rates must be standardised across India
A Parliamentary Standing Committee has recommended a standard rate for processing and handling of cargo at airports across the country to improve the competitiveness of India’s exports and the cost of air cargo logistics.
ECONOMY
Indian Railways maps the way to bridge widening gap in capex and revenues
In the last five years, the annual capex has nearly doubled to Rs 2.15 lakh crore in 2021-22 budget estimates
POLITICS
House panel seeks focus on ‘outcomes’ as POSHAN ‘outlays’ face COVID axe
Budgetary allocations for the government’s flagship programme to tackle malnutrition among women and children suffered a drastic cut in the past two years as the pandemic raged, prompting a parliamentary panel to advise the government to switch its focus from “outlays to outcomes.”
BUSINESS
Q2 GDP expands on pent-up demand; Omicron, services sector key to growth in coming quarters
As India’s GDP grows 8.4% in Q2FY22, the new COVID variant emerges as a threat. Analysts say RBI may start monetary tightening soon and consumption will likely remain subdued
TRENDS
Condition of women, girl child improving in India but many development indices remain below par
The sex ratio at birth has improved over the five-year period from NFHS-4, proving that a larger number of girl children are being born. So, more daughters are being saved. But literacy rates among women remain a concern since nearly every third woman in villages was still illiterate in 2019-21.
