Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
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Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES |  An economic disaster foretold -Amit Bhaduri and Deepankar Basu    </title>
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The reported contraction of the economy is likely an underestimate for reasons of omission and commission

According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP..."/>
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The reported contraction of the economy is likely an underestimate for reasons of omission and commission

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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The reported contraction of the economy is likely an underestimate for reasons of omission and commission</em></p><p style="text-align:justify">According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP contracted by a whopping 23.9% between April-June 2019 and April-June 2020. This magnitude of real GDP decline is unprecedented since the country started publishing quarterly GDP estimates in 1996. This is an economic disaster, no doubt. But is a bigger one in the offing?</p><p style="text-align:justify">According to the Organisation for Economic Cooperation and Development, India&rsquo;s real GDP contraction between April-June 2019 and April-June 2020 has been the largest among 13 large economies of the world. China is the only country which saw a positive growth of 3.2% in that period. However, even that reported contraction of the Indian economy in all likelihood is an underestimate for reasons of omission of statistical information and commission of policies of insidious intent.</p><p style="text-align:justify"><em>An underestimated disaster</em></p><p style="text-align:justify">The unorganised sector forms a significant part of the Indian economy. According to some estimates, it accounts for 45% of output and 93% of employment of the working population.</p><p style="text-align:justify">While data collection methods have undoubtedly improved over time, coming up with reliable estimates of value added in the unorganised sector is challenging. Typically, government statisticians combine information about value added per worker from enterprise surveys with information about employment from employment-unemployment surveys to generate estimates of output in the unorganised sector.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk" title="https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk">click here</a> to read more.&nbsp;&nbsp;</p>                                                           
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The reported contraction of the economy is likely an underestimate for reasons of omission and commission

According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP..."/>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The reported contraction of the economy is likely an underestimate for reasons of omission and commission</em></p><p style="text-align:justify">According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP contracted by a whopping 23.9% between April-June 2019 and April-June 2020. This magnitude of real GDP decline is unprecedented since the country started publishing quarterly GDP estimates in 1996. This is an economic disaster, no doubt. But is a bigger one in the offing?</p><p style="text-align:justify">According to the Organisation for Economic Cooperation and Development, India&rsquo;s real GDP contraction between April-June 2019 and April-June 2020 has been the largest among 13 large economies of the world. China is the only country which saw a positive growth of 3.2% in that period. However, even that reported contraction of the Indian economy in all likelihood is an underestimate for reasons of omission of statistical information and commission of policies of insidious intent.</p><p style="text-align:justify"><em>An underestimated disaster</em></p><p style="text-align:justify">The unorganised sector forms a significant part of the Indian economy. According to some estimates, it accounts for 45% of output and 93% of employment of the working population.</p><p style="text-align:justify">While data collection methods have undoubtedly improved over time, coming up with reliable estimates of value added in the unorganised sector is challenging. Typically, government statisticians combine information about value added per worker from enterprise surveys with information about employment from employment-unemployment surveys to generate estimates of output in the unorganised sector.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk" title="https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk">click here</a> to read more.&nbsp;&nbsp;</p>                                                           
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        LATEST NEWS UPDATES |  An economic disaster foretold -Amit Bhaduri and Deepankar Basu    </title>
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The reported contraction of the economy is likely an underestimate for reasons of omission and commission

According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP..."/>
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    <h1 class="cat-box-title"> An economic disaster foretold -Amit Bhaduri and Deepankar Basu</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The reported contraction of the economy is likely an underestimate for reasons of omission and commission</em></p><p style="text-align:justify">According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP contracted by a whopping 23.9% between April-June 2019 and April-June 2020. This magnitude of real GDP decline is unprecedented since the country started publishing quarterly GDP estimates in 1996. This is an economic disaster, no doubt. But is a bigger one in the offing?</p><p style="text-align:justify">According to the Organisation for Economic Cooperation and Development, India&rsquo;s real GDP contraction between April-June 2019 and April-June 2020 has been the largest among 13 large economies of the world. China is the only country which saw a positive growth of 3.2% in that period. However, even that reported contraction of the Indian economy in all likelihood is an underestimate for reasons of omission of statistical information and commission of policies of insidious intent.</p><p style="text-align:justify"><em>An underestimated disaster</em></p><p style="text-align:justify">The unorganised sector forms a significant part of the Indian economy. According to some estimates, it accounts for 45% of output and 93% of employment of the working population.</p><p style="text-align:justify">While data collection methods have undoubtedly improved over time, coming up with reliable estimates of value added in the unorganised sector is challenging. Typically, government statisticians combine information about value added per worker from enterprise surveys with information about employment from employment-unemployment surveys to generate estimates of output in the unorganised sector.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk" title="https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk">click here</a> to read more.&nbsp;&nbsp;</p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk" class="re" target="_blank">The Hindu, 16 September, 2020, https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk</a><div class="clear"></div>
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An economic disaster foretold -Amit Bhaduri and Deepankar Basu

Published on Sep 16, 2020   Modified on Sep 16, 2020

-The Hindu The reported contraction of the economy is likely an underestimate for reasons of omission and commission According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP contracted by a whopping 23.9% between April-June 2019 and April-June 2020. This magnitude of real GDP decline is unprecedented since the country started publishing quarterly GDP estimates in 1996. This is an economic disaster, no doubt. But is a bigger one in the offing? According to the Organisation for Economic Cooperation and Development, India’s real GDP contraction between April-June 2019 and April-June 2020 has been the largest among 13 large economies of the world. China is the only country which saw a positive growth of 3.2% in that period. However, even that reported contraction of the Indian economy in all likelihood is an underestimate for reasons of omission of statistical information and commission of policies of insidious intent. An underestimated disaster The unorganised sector forms a significant part of the Indian economy. According to some estimates, it accounts for 45% of output and 93% of employment of the working population. While data collection methods have undoubtedly improved over time, coming up with reliable estimates of value added in the unorganised sector is challenging. Typically, government statisticians combine information about value added per worker from enterprise surveys with information about employment from employment-unemployment surveys to generate estimates of output in the unorganised sector. Please click here to read more.

The Hindu, 16 September, 2020, https://www.thehindu.com/opinion/op-ed/an-economic-disaster-foretold/article32614425.ece?fbclid=IwAR3sf_Wa1K3jy3ZLMLHsqoNLUy6GYQiRKjyQm-SCiRPa6YJro4LGg5g0LEk

Tagged with: Economic Contraction Economic Depression Real GDP Lockdown Covid-19 Coronavirus

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