Budget and Economy
The Union Budget was announced a few months ago, in August, and focused on agriculture, job creation, infrastructure, and energy security. As the fiscal year progresses, the success of the budget will be measured not just by economic indicators but also by its ability to foster inclusive growth and innovation. This month, at SPRF, we take a closer look at the challenges currently faced by the Indian economy and society.
1
Each year, the gig economy rapidly increases demand for gig workers during festival seasons. The gig economy has been growing rapidly in India, with a massive consumer base from tier-1, tier-2 and tier-3 cities. Even during the COVID-19 pandemic, gig workers were deemed essential workers and the services were allowed to operate. However, for such an expansive and deemed essential sector, the bargaining power of the gig worker remains concerningly low. The working conditions are poor, with the entire gig workforce receiving less than a living wage, and in the majority of cases, the lack of a minimum wage as well.
Mineral exploration and identification play an important role in national security, and are also essential to modern industrial growth. Most countries push for exploration and processing of minerals to ensure the military’s technology edge, secure manufacturing supply chains, and pursue sustainable development practices. In June, 2023 India’s union ministry of Coal, Mines & Parliamentary affairs unveiled the first report on ‘Critical Minerals for India,’ with a comprehensive list of critical minerals found in the country.
3
Menstruation is an integral part of the lives of women and girls, and the right to manage menstruation safely and with dignity is key to human rights worldwide. Generally, the onset of the menstrual period in a female body post puberty involves the monthly shedding of the uterine lining and blood discharge, mostly in a 28 day cycle, and is essential for good sexual and reproductive health for women. Given a lack of general public awareness regarding this natural health indicator, extreme patriarchy, as well as stigma against the dissemination of sexual and reproductive health education in the country, a significant section of the menstruating population deal with varied challenges in this regard.
4
During the 1980s and 90s, Bihar’s economy experienced a profound crisis. While most states were witnessing positive growth in their Gross State Domestic Product (GSDP) and per capita income, Bihar, in contrast, exhibited negative growth rates in these two areas. It cemented its place as the poorest state in India, despite being blessed with rich resources of land, labour, and water. Across all indicators, including Head Count Ratio, agricultural productivity, urbanisation, and literacy rates, Bihar consistently demonstrated patterns of chronic underperformance. Being given the unfortunate tag of a ‘BIMARU’ on account of its underprivileged status as a low development state, Bihar has seen a positive trend of growth since 2005.
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