Eco survey turns pink; asks Indians to confront son preference
New Delhi: The pink coloured Economic Survey document tabled by Finance Minister Arun Jaitley in Parliament today recommended that India must confront the societal metapreference for a son, observing that the adverse sex ratio of females to males has led to 63 million "missing" women.
The colour of this year's survey cover was chosen as a symbol of support for the growing movement to end violence against women, which spans continents.
Laying special emphasis on gender development, the Survey cautioned that on several indicators, notably employment, use of reversible contraception, and son preference, India has some distance to traverse despite the country's economic progress.
The Survey states that just as India has committed to moving up the ranks in Ease of Doing Business indicators, a similar commitment should be endeavoured on the gender front.
The percentage of working women has declined over time from 36 per cent being employed in 2005-06 to 24 per cent of women employed in 2015-16, pointed out the Survey.
It acknowledges that Government's 'Beti Bachao, Beti Padhao' and 'Sukanya Samridhi Yojana' schemes, and mandatory maternity leave rules are all steps in the right direction, pointing out that measures such as increasing maternity leave will offer support to women in the workforce.
Given these observations, the states and all stakeholders have an important role to play in increasing opportunities available for women in education and employment, it said.
As per the Survey, nearly 47 per cent of women do not use any contraception, and of those who do, less than a third use female-controlled reversible contraception.
The Survey highlighted another phenomenon of son metapreference which involves parents adopting fertility "stopping rules" having children until the desired number of sons are born.
"This metapreference leads naturally to the notional category of 'unwanted' girls which is estimated at over 21 million," says the Survey.
Consigning these odious categories to history soon should be society's objective, opines the Survey. It also provides an assessment of India's performance on gender outcomes relative to other economies.
However, the Survey noted an improvement in average levels of 12 out of 17 variables in India over time. While 62.3 per cent of women in India were involved in decisions about their own health in 2005-06, the number increased to 74.5 per cent in 2015-16.
The percentage of women who did not experience physical or emotional violence also increased from 63 per cent to 71 per cent, whereas the median age at first childbirth also increased by 1.3 years over ten years.
The Survey noted that the North-Eastern states have been consistently outperforming others on the development parameters related to women, while hinterland states are lagging behind.
However, surprisingly, some southern states such as Andhra Pradesh and Tamil Nadu fare worse than expected given their level of development, it said.
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Rupee plunges 28 paise to settle at 93.44 against US dollar
Mumbai (PTI): The rupee declined 28 paise to close at 93.44 against the US dollar on Tuesday, weighed down by a steady American currency and volatile crude oil prices amid uncertainties over the progress of West Asia peace negotiations.
Positive domestic equity markets failed to boost local currency, which also had some impact of the Reserve Bank's latest move to ease curbs on speculative bets in non-deliverable forward markets, forex analysts said.
The Reserve Bank on Monday partially withdrew directives taken on April 1 to curb excessive speculation in the rupee. The banking regulator had capped the net open positions in non-deliverable forward markets at USD 100 million, mandating banks to comply by April 10.
Under revised directives, authorised dealers or banks can resume offering non-deliverable derivative contracts involving INR to resident or non-resident users, but must comply with certain restrictions on related-party transactions. Also, the USD 100-million cap in net open position is still effective.
At the interbank foreign exchange market, the rupee opened at 93.25 and fell to an intra-day low of 93.63 before ending the session 28 paise lower at 93.44 against the greenback.
On Monday, the rupee settled with a loss of 25 paise at 93.16 against the US dollar. The currency had gained 47 paise in the preceding two sessions.
Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, said the rupee fell on uncertainty over US-Iran talks and a surge in crude oil prices. A strong dollar also pressured the rupee; however, positive global markets cushioned the downside.
"Traders may take cues from retail sales and ADP employment change data from the US. USD-INR spot price is expected to trade in a range of Rs 93.30 to Rs 93.90," Choudhary said.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said the rupee traded weaker as recent RBI adjustments and partial rollback of earlier currency-support measures added pressure on the local unit.
"At the same time, the dollar remains steady while crude and gold are relatively stable, with markets closely watching the outcome of US-Iran ceasefire developments expected tomorrow. The rupee is likely to remain highly event-driven, with direction dependent on geopolitical clarity and RBI stance," Trivedi said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.19 per cent to 98.09.
Brent crude, the global oil benchmark, was trading 0.70 per cent down at USD 94.81 per barrel in futures trade.
Analysts attributed the volatility in crude prices to persistent worries over disruptions of supplies of oil from the Strait of Hormuz. Also, the ceasefire agreement between the United States and Iran is scheduled to expire on Wednesday.
In a latest development, Iran's chief negotiator on Tuesday said Tehran would not negotiate in the face of threats, while US President Donald Trump hinted that he was in no rush to end the conflict with Iran.
In the domestic equity markets the 30-share Sensex rose 753.03 points, or 0.96 per cent, to settle at 79,273.33, while the Nifty rose 211.75 points, or 0.87 per cent, to 24,576.60.
Foreign Institutional Investors offloaded equities worth about Rs 1,918.99 crore on Tuesday, according to the exchange data.
