TMS Ep190: RBI rate hike, four-day work week, impact of monsoons, MGNREGA
What should borrowers & depositors do amid rising interest rates? Can India have a four-day work week like UK? Can a good monsoon prevent more rate hikes? What is the MGNREGA scheme? All answers here
Team TMS New Delhi
Shrugging off Monday blues and the uncertainty surrounding the country’s economy, at least 3,300 workers of 70 firms -- ranging from small shops to big multinationals -- smiled their way to work beginning this week in the UK. They will work for just four days a week without a pay cut for the next six months. The pilot scheme has been launched to test the waters. Wondering if we too can follow the Britons?
Four-day work week may help Britain in tiding over the economic slowdown. Meanwhile, back home, RBI expects the inflation-inflicted pain to last for three more quarters as it raised the repo rate. However, the forecast of normal monsoon may also take pressure off the RBI as it will cool off inflation. So, how should one approach the monsoon-related stocks?
Just a few hours drive from Mumbai’s ritzy Dalal Street may introduce you to some grim realities. Rising cost of living and decreasing job opportunities are increasingly fueling rural distress. And people are falling back on MGNREGA to earn their daily bread. In May this year, over 31 million households sought work under MGNREGA, almost 11% more than the same period last year. This episode of the podcast tells more about this flagship scheme which has emerged as a savior in these tough times.
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First Published: Jun 09 2022 | 8:00 AM IST