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Unemployment Rate Declines to 6.8% in Jan-Mar Quarter According to PLFS

The Periodic Labour Force Survey for the January-March quarter of 2023 has revealed that the all India unempolyment rate has declined to 6.8 percent from 8.2 percent in the same quarter a year ago. The Unemployment rate for males stood at 6 percent in Jan-Mar 23 (from 7.7 percent a year ago) and for females the rate was 9.2 percent (from 10.1 percent). The report was released yesterday by the...

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Poverty and inequality

KEY TRENDS   • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...

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34 Million or 373 Million: Do We Know How Many In India Are Poor? - Nushaiba Iqbal

IndiaSpend There are at least five estimates of the number of poor people in India, which put the number of poor in India between 34 million--equivalent to the population of Kerala--to 373 million--more than four times the population of West Bengal. This puts the number of the poor between 2.5% of the population to 29.5%, based on different estimates between 2014 and 2022. Economists have arrived at these estimates through various means, including projections...

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Women’s Work and Wages Continue at Abysmal Levels - Subodh Varma The share of women who are earning through work continues to remain shockingly low in India according to the latest data from the annual Periodic Labour Force Survey (PLFS) 2021-22 released last month. The report, compiled by the National Sample Survey Office (NSSO) under the ministry of statistics, also provides a glimpse of the unconscionable gap between the earnings of men and women. In rural areas, about 57% of men are...

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Banks eye Rural loan growth to push credit-deposit ratio - Mihir Mishra, Shayan Ghosh

Mint India’s rural borrowers and small businesses owners may have easier access to credit with public sector banks (PSBs) planning to increase financing to these segments, after the Union finance ministry urged lenders to improve their credit-deposit ratio. The C-D ration indicates how much of a banks' deposit base is being utilized for extending loans. The development may help expedite the revival of the rural economy, which is struggling to reach pre-covid...

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