BINAY SINHA he Mahatma Gandhi National Rural Employment Guarantee Scheme or MGN☐ REGS appears to be under scrutiny. It may even be overhauled, if recent media reports are to be believed. MGNREGS was launched by the United Progressive Alliance (UPA) government after the passage of a legislative Bill in 2005 to provide for at least 100 days of work at specified wage rates for each rural household in a year.
Despite many doubts and questions that MGNREGS was subjected to over the past several years, it appears to have stood the test of time, not least because it turned out to be a major instrument for helping rural workers during the Covid years. Indeed, as the accompanying chart shows, the use of MGNREGS funds has a direct correlation with the level of economic distress in the Indian economy.
Within a couple of years of its launch, economic growth in the country dipped to 3.1 per cent in 2008-09, thanks to the global financial crisis. It was a sharp decline from the 7.7 per cent growth in 2007-08.
Although gross domestic product (GDP) recovered in the following years, the impact on jobs was significant. Not surprisingly, job demand and the money spent under MGNREGS spurted.
هذه القصة مأخوذة من طبعة May 22, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 22, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
A life that lives beyond
The passing of Ratan Tata marks the loss of not only an iconic leader but also a global visionary whose influence extended far beyond business.
Ratan Tata: The unlikely social media star
On Monday, Ratan Tata posted on social media: \"Thank you for thinking of me,\" debunking rumours about his health. Just two days later, on Wednesday, the former Tata Group chairman passed away in a Mumbai hospital at the age of 86.
Paytm appears poised for rebound
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license.
Love-all, RAFA
'KING OF CLAY' TO SIGN OFF FROM PROFESSIONAL TENNIS BY THE END OF THIS SEASON
Aman for startups
Ratan Tata was known as much for his business acumen as for his philanthropy. However, a lesser-known fact was his stellar track record when it came to startup investment.
RBI's inflation caution may halt FMCG rally
Analysts suggest buying quality stocks on dips for long term
Indices close marginally higher
Equity benchmark indices Sensex and Nifty settled higher on Thursday due to gains in banking, power, and industrial stocks amid a firm trend in global markets.
Oil gains after 2-day decline
Oil rose after a two-day decline as traders watched for an Israeli response to Iran's missile attack early last week, while US crude stockpiles expanded the most since April.
Pro-rata distribution mandate for AIFs likely to see tweaks
Final norms to ensure excuse, exclude provisions co-exist
Bernstein downgrades Indian stocks on valuation concerns
Bernstein Societe Generale Group's Asia quant strategists have downgraded Indian stocks due to valuations, while predicting further upside for Chinese equities on a policy boost.