CONTEMPT FOR LABOUR: ON DILUTION OF LABOUR LAWS
Introduction It is amoral and perverse on the part of some States to address this need, for revival of business and economic activity, by granting sweeping exemptions from legal provisions aimed at protecting labourers and employees in factories, industries and other establishments. What actions have states taken? Madhya Pradesh will be allowing units to be […]
RAGHURAM RAJAN EXPLAINS: HOW BEST TO STIMULATE ECONOMY?
Introduction To fund a bigger public spending programme, the government can either ask the RBI to print more money (monetise the deficit) or it can issue new bonds to be subscribed by the banks (raise money through borrowing). The Former RBI governor Raghuram Rajan explained how the two paths work and why ‘monetisation’ is a […]
SLOWER GROWTH AND A TIGHTER FISCAL
Introduction Various institutions have assessed India’s growth prospects for 2020-21 ranging from 0.8% (Fitch) to 4.0% (Asian Development Bank). This wide range indicates the extent of uncertainty and tentative nature of these forecasts. The International Monetary Fund (IMF) has projected India’s growth at 1.9%, China’s at 1.2%, and the global growth at (-) 3.0%. The […]
WATER WISDOM DURING A PANDEMIC
Introduction The World Water Day on March 22 was observed more online than in-person this year, considering the Pandemic More than any previous year, there was a recognition of the importance of water in handwashing and personal hygiene practices. Theme of Water Day 2020: “Water and Climate Change” Water is the primary medium through which climate change […]
SHOULD HEALTHCARE BE A FUNDAMENTAL RIGHT?
Introduction India has never spent more than 2% of its GDP on healthcare. Healthcare facilities across the country straddle different levels of efficiency and sufficiency. This Pandemic has opened the eyes of people to the importance of universal and robust public health services and the need for everybody to be covered by quality healthcare, or for […]
TOXIC DISASTER: SAFETY PARAMOUNT WHEN EXITING LOCKDOWN
Why in news? The disastrous leak of a toxic chemical that has killed several people and left hundreds sick near Visakhapatnam in Andhra Pradesh comes as a shock to a nation struggling to cope with a prolonged lockdown. Styrene, the chemical involved is included in the schedule of the Manufacture, Storage and Import of Hazardous Chemical […]
BUBONIC PLAGUE LEADING TO EPIDEMIC DISEASES ACT
Introduction The Centre amended the Epidemic Disease Act, 1897, making attacks on healthcare workers a cognisable, non-bailable offence, on March 2020. The colonial-era Act empowers the state governments to take special measures and prescribe regulations in an epidemic, defines penalties for disobedience of these regulations, and provides for immunity for actions taken under the Act […]
A ROADMAP FOR MANUFACTURING
Current Situation Within the manufacturing sector MSMEs are the hardest hit, with many of them getting close to bankruptcy. At a global level, there is a very clear indication that companies that are doing business in China are now looking to consider other attractive investment destinations. India’s Opportunity Potentially, India can take the lead and […]
A WAR-LIKE STATE AND A BOND TO THE RESCUE
Introduction In the Budget before the pandemic, India projected a deficit of ₹7.96-lakh crore. The financial deficit number is set to grow by a wide margin due to revenue shrinkage from the coming depression that will most certainly be accompanied by a lack of appetite for disinvestment. In addition to the expenditure that was planned, […]
RESUSCITATING MULTILATERALISM WITH INDIA’S HELP
Introduction Even as the coronavirus pandemic unleashes its devastation across the globe, the great and the good have been quick to remind us of the value of multilateralism and the necessity to preserve it. India may be uniquely positioned to help resuscitate multilateralism. India can start playing a role United States facing multiple internal challenges […]