Did MNREGA Cushion Job Losses During the COVID-19 Crisis?
Analysis suggests that districts that have historically exhibited high state capacity to utilise MNREGA funds have been better able to use the additional funds for employment recovery last year â especially for women.
Women at a MNREGA work site. Photo: UN Women Asia and Pacific/Flickr CC BY NC ND 2.0
Rights11/Feb/2021
Data from the Centre for Monitoring Indian Economy (CMIE)âs Consumer Pyramids Household Survey (CPHS) show that employment fell precipitously during the nationwide COVID-19 lockdown, especially in April and May 2020. It exhibited a V-shaped recovery in June-July, when mobility restrictions were eased, but tapered off thereafter and has remained below the pre-pandemic level since the economy was opened up further from August onwards. A key measure that the government undertook to pump up employment was increased allocation for the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA).
Investors happy but households give thumbs down to Budget: CMIE
CMIE observeshouseholds expressed displeasure as a week after budget, Index of Consumer Sentiments fell 4.2%; budget may or may not be reason for household perceptions to worsen but sentiments have worsened after it, it adds
BusinessToday.In | February 10, 2021 | Updated 12:37 IST
Budget brings a sharp difference between perception of equity market investors and households, says CMIE
The value of BSE-30 companies rose five per cent and that of Nifty-50 companies rose 4.7 per cent on the day of the Budget, which is an indicator that investors were evidently happy with the Budget, private think CMIE (Centre for Monitoring Indian Economy) has said in its latest article. It is unusual for the value of these companies to rise by more than 2 per cent on an average day, said the article written by CMIE CEO Mayesh Vyas.
India and the US must grab this chance to reset their relations
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Prime Minister Narendra Modi and US President Joe Biden had their first phone call this week. They re-affirmed a commitment to a rules-based international order, a theme which is likely to become a mainstay of the Biden administration. However, the new President inherits unprecedented uncertainty, fuelled by a global economic crisis, and an assertive China. India shares these concerns. This seems an opportune moment to strengthen US-India bilateral ties, to define resilient globalization and a stable regional order. But, both countries must face some hard facts together at the outset.
Construction fuels jobs revival in rural India, cities struggle
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The revival in real estate and construction activity in the rural sector is because of greater construction of individual buildings
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Increased construction activity in rural areas is driving a recovery in India’s labour market instead of cities, services sector and industrial belts.
Of the nearly 12 million net additions to the employed workforce in January, most are helping rural India build houses and roads. The construction and real estate sector in rural India absorbed more than 8.23 million workers in January, showed data from the Centre for Monitoring Indian Economy (CMIE). In comparison, the labour-intensive construction sector in urban India added less than 350,000 people.
Job Half Done
The Budget focuses on growth to create jobs but lacks holistic measures to solve the problem of massive unemployment
Illustration by Raj Verma
India s biggest advantage, its demographic dividend where its working age population is more than its dependent population can become its biggest nightmare without sufficient employment avenues. The year 2020 will be known for business shutdowns, layoffs and joblessness due to the pandemic. In December 2020, according to the Centre for Monitoring Indian Economy, India s unemployment rate was as high as 9.1 per cent. Many expected Union Budget 2021 to take note of this and create ample growth and employment opportunities. The government has tried to do that by increasing spending. An increase in fiscal deficit to 9.5 per cent of gross domestic product (RE FY21) and 6.8 per cent in FY22 shows intention to increase spending and push growth, which will, in turn, create jobs. There is also a 34.5 per cent increase in allocation