Reading Time: 7 mins With the drastic spread of the Novel Corona Virus, Covid-19 originated from the city of Wuhan of China, Countries started declaring National Emergency and complete lockdown. Almost all sectors of the economy got severely affected by this, in which the most prominent sectors are Tourism and Hospitality sector. The tourism sector of a country generates foreign exchange, drives regional development, and directly supports various businesses and numerous types of jobs such as catering, tourist operators etc. The Hospitality Industry in itself is very vast and includes lodging, food and drink services, event planning, transportations and even theme parks, so the employment capacity is also quite high in this sector. According to the latest UN report, Global tourism which accounts for the 10% of total global GDP lost USD 320 billion in 5 months and more than 120 million jobs at risk due to the COVID 19 pandemic. The impact of the novel coronavirus on India’s tourism and hospitality sector jobs is nothing short of severe.
Reading Time: 8 mins The Central government has extended the Rs.45,0000 crore Partial Credit Guarantee Scheme 2.0 by another three months and has allowed the banks to invest more in better-rated NBFCs. The scheme was announced as a part of the ‘Atmanirbhar Bharat Abhiyan’ Package to provide liquidity support to weaker NBFCs, housing finance companies and microfinance institutions.
Reading Time: 10 mins The RBI has cleared a new loan restructuring scheme to help out borrowers in these COVID-19 stricken times. Earlier, the …
Reading Time: 5 mins The mass exodus of migrant workers to their native villages following the temporary closing down of industries in urban areas to curb the COVID-19 outbreak has increased the demand for employment in Rural India. This situation creates a new opportunity to improve the rural economy by employing such population in infrastructure development and other vital government projects like waste management and improving access to water in rural India. To utilise this opportunity, the government had launched Gram Kalyan Rojgar Abhiyaan in select states. However, the new initiative has diluted the role of MGNREGS, another similar but comprehensive rural employment generation scheme.
Reading Time: 7 mins The Parliament recently passed the Mineral Laws (Amendment) Bill, 2020. The mining sector in India has been going under a face change since last year as the government took a series of actions regarding the mining sector. In the fourth tranche of the Atmanirbhar economic package, the Finance Minister spelled out reforms in the Mining sector. In this background, it is important to study the above-mentioned Bill.
Reading Time: 5 mins In a country where around 90% workforce is engaged in an unorganized sector, the framing of social security schemes is a very challenging task. The humungous population with dynamic demographic patterns, diverse socio-economic conditions from state to state, and huge informal sector make the task of designing a foolproof scheme faces many structural and functional challenges. On this backdrop the Atal Pension Yojana, the flagship social security scheme, must be analyzed for its efficacy. Recently, it completed five years of its operation.
Reading Time: 9 mins The Coronavirus Pandemic has affected everyone but to some, it has led to complete disturbance in their lives. One such section is the migrant workforce of the nation. The people walking to their home states in desperation has been one of the dark images of the pandemic hit the nation. The world bank estimates that the lockdown has impacted over 40 million internal migrants in India.
Reading Time: 4 mins The Pradhan Mantri Bhartiya Janaushadhi Pariyojana has been in the news as it has been entire country is under the lockdown, the demand for medicines and medical equipment is on the rise. To cater to this demand PMJAKs have delivered a record amount of affordable and quality medicines to the public during the lockdown.X
Reading Time: 9 mins As India continues to fight the pandemic of COVID-19, The PM recently made a clarion call for a post-pandemic economic redemption. The Atmanirbhar Bharat i.e. Self-reliant India is a policy that aims to convert the crisis into opportunity and boost the Make in India program. The Finance Minister explained the nitty-gritty of the policy in a press conference.