Note ban failed to curb the menace of counterfeit currency, indicates RBI's Annual Report September 9, 2018
Although containing fake notes in circulation was one of the objectives behind demonetisation when it was undertaken in 2016, recent data from the Reserve Bank of India (RBI) reveals that fake counterparts of some denominations grew during 2017-18 vis-à-vis the previous year.
The recently released Annual Report for 2017-18 of the RBI shows that the total number of pieces of counterfeit notes of Rs. 2000/- denomination, which was detected in the banking system, has jumped up from merely 638 to 17,929 between the financial years 2016-17 and 2017-18 viz. by a massive 2710.19 percent. The Rs. 2000/- denomination currency note was introduced only after 8 November, 2016 so as to fill the vacuum created by the demonetisation of the currency note of denominations Rs. 500/- and Rs. 1000/-.
In terms of volume, however, the total number of pieces of Rs. 2000/- denomination notes in circulation was 3,285 million in March 2017,...
Monthly income per farm household grew between NSSO & NABARD surveys, but so has the level of outstanding loans November 30, 2018
A recent report by the National Bank for Agriculture and Rural Development (NABARD) enlightens one about the state of farmers' income and indebtedness in 2015-16. Entitled NABARD All India Rural Financial Inclusion Survey 2016-17 – in short NAFIS 2016-17 – the report says that between 2012-13 and 2015-16 the average monthly income for agricultural households grew by around 39 percent.
One may recall that the Key Indicators of Situation Assessment Survey of Agricultural Households in India report of the National Sample Survey Office (NSSO) had found that the average monthly income per farm household at the national level during the crop year July 2012-June 2013 was Rs. 6,426/-. The NAFIS 2016-17 report says that the average monthly income per agricultural household at the national level reached Rs. 8,931/- in the crop year 2015-16.
It may be noted that the Consumer Price Index (Rural) (base year 2012 = 100) during July...
Roughly one-third of offenders who committed online harassment were unknown to their victims, shows recent LIRNEAsia report August 14, 2018
Good news about digital inclusion often leaves little room for reporting on bad experiences, which netizens encounter in the digital world. A recent report by LIRNEAsia – an ICT [information and communication technology] policy and regulation think tank working in the Asia-Pacific – says that almost one among five Indian netizens in the age-group 15-65 years had faced online harassment in 2017. In contrast, roughly twelve out of hundred internet users had witnessed online harassment in Pakistan and Bangladesh each.
Entitled AfterAccess: ICT Access and Use in India and the Global South, the study reveals that 28 percent of Indian netizens (sample size: 919) who experienced online harassment (178 out of 919) had reduced their use of the particular website. However, 48 percent of the netizens who faced online harassment said that it had no effect. Out of those who faced online harassment, roughly 15 percent had deleted the app or...
More than 4 lakhs posts in the Central govt. lying vacant, shows latest available data January 11, 2019
Since jobs have shrunk due to the deployment of information technology in sectors such as banking, quotas won't guarantee employment, said Union Minister Shri Nitin Gadkari recently, according to a PTI news dated 5th August, 2018. But the truth is somewhat different from what Mr. Gadkari told journalists about falling jobs against the backdrop of demand for reservation by the Marathas. Let us see why this is so.
The total number of sanctioned posts for Central government civilian regular employees (both gazetted and non-gazetted) had increased from 36.46 lakhs to 36.49 lakhs between 1st March, 2014 and 1st March, 2015 viz. by 0.11 percent. But it fell down from 36.49 lakhs to 36.34 lakhs between 1st March, 2015 and 1st March, 2016 viz. by -0.43 percent.
The total number of positions filled in the Central government for civilian regular jobs (both gazetted and non-gazetted) had gone up from 32.24 lakhs to...
New EPF enrolment during Sep., 2017 to Apr., 2018 confined to a few industries & states, indicates data July 26, 2018
A document of the Ministry of Statistics and Programme Implementation (MoSPI) dated 25th June, 2018 says that the number of members subscribing to the Employees' Provident Fund (EPF) scheme give one an idea of the level of employment in formal sector viz. mostly employment in establishment employing 20 or more persons (though EPF is applicable for certain organisations, which employ less than 20 persons, subject to certain conditions and exemptions). The updated estimates on enrolment in EPF scheme released on 25th June and then again on 20th July
this year prove that the total formal sector employment may not have grown
that much between September, 2017 and March, 2018 as was calculated earlier on 25th May, 2018.
The modified estimates of payroll data, which was provided by the MoSPI on 25th June this year, indicates that 34.4 lakh net new subscribers were added to the EPF scheme between September, 2017 and March,...