Indian Space Policy 2023: A New Era in Space Innovation

April 13, 2023

Through a series of mega launches of satellite and rocket spheres in the last few decades, India has established its credibility as a key player in the international space industry. From communications satellites such as Indian National Satellite System (INSAT), and earth observation satellites like the Cartosat series to setting...

Boosting Rural Demand, Reviving MGNREGS

March 31, 2023

The scheme’s impact on reducing rural poverty and improving standards of living is well established through several studies. According to a recent study by Azim Premji University, by compensating for income loss caused by COVID-19-induced shutdowns by up to 80 per cent, the scheme provided a much-needed safety net for...

Insufficient Funds In Spite of Demand

March 31, 2023

MGNREGS is facing a double whammy of sorts as the reduced rate hike in daily wages is coupled with a declining budgetary allocation for the rural programme. There is no component of standalone fund allocation to states and UTs under MGNREGS and funds released to the states and Union Territories...

From Low Wage Hikes to Declining Interest

March 31, 2023

On 24th March 2023, the Union Ministry of Rural Development notified a hike in wage rates under the rural job guarantee programme for the Financial Year 2023-24. The hike, applicable from 1st April 2023, ranges from Rs. 7 to Rs. 26, or between two per cent to ten per cent...

Taking it Beyond Unskilled Work

March 31, 2023

MGNREGS is a demand-driven employment guarantee scheme which guarantees at least 100 days of paid employment (in the form of unskilled manual work) in a financial year to every rural household. The scheme is premised on the need to create employment and generate productive assets in rural areas thereby supporting...

Sub-Par Wage Hike, Declining Allocation: Double Whammy for MGNREGS

March 31, 2023

According to a study conducted by the National Council of Applied Economic Research (NCAER) and the University of Maryland, the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) helped reduce the incidence of poverty in rural areas by up to 32 per cent and prevented 1.4 crore people from falling...

Is India Prepared?

March 24, 2023

Using a currency for international trade has to go beyond the currency being a medium of exchange for goods and services trade. It must reflect the ability to support transactions in the capital markets as well. This calls for greater integration and opening up of the domestic economy and the...

Benefits of Internationalizing Indian Rupee

March 24, 2023

The internationalisation of the Indian Rupee is slated to bring several benefits to the domestic economy. For starters, undertaking economic transactions with the rest of the world in the Indian Rupee will lower the transaction cost of cross-border trade and investment operations by mitigating exchange rate risk and eliminating conversion...

Indian Rupee as An International Medium

March 24, 2023

The RBI’s trade settlement system, set up in July 2022, has been attracting interest from countries across the world. The mechanism facilitates the usage of the Indian Rupee for cross-border financial transactions through a Vostro account, thereby reducing dependence on existing international currencies. The RBI has granted permits to banks...

International Currency: What does it mean to be one?

March 24, 2023

An international currency is a currency used to settle cross-border transactions involving any purchase of goods, services, or financial assets instead of the national currencies of the parties involved. An international currency has wide global recognition and is easily convertible into other currencies. While cross-border trade can be in any...