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
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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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NEW DELHI: Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy.

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                            <div align="justify">-TheCitizen.in<br /><br /><em>NEW DELHI: </em>Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy.<br /><br />The growth rate of real Gross Value Added (GVA which is the appropriate thing to look at, since the GDP measure includes net indirect taxes and hence does not truly reflect output trends), was 6.6 percent for 2016-17 as a whole, compared to 7.9 percent for 2015-16.<br /><br />More importantly, the quarterly growth rate (i.e. the growth rate of GVA in a particular quarter over the corresponding quarter of the preceding year) kept declining in every successive quarter during 2016-17, the fourth quarter growth rate being just 5.6 percent, which was roughly 3 percent below that of the fourth quarter of 2015-16.<br /><br />Besides, even this growth rate was artificially boosted by two factors: one was the unusually good agricultural performance because of favourable weather (real GVA growth rate in agriculture was 4.9 percent in 2016-17 compared to a mere 0.7 percent in 2015-16), and the other was the growth in Public Administration and Defence because of the 7th Pay Commission award. (This sector&rsquo;s real GVA growth rate for 2016-17 was 11.3 percent compared to 6.9 percent for 2015-16).<br /><br />If we take out these two sectors then we get what the Survey calls &ldquo;Core GVA&rdquo;. The growth rate of &ldquo;Core GVA&rdquo; was just 6.2 percent in 2016-17 compared to 9.8 percent in 2015-16, a drop of 3.6 percent. And given the fact that the growth rate during the year was not just lower but declining through time, the fourth quarter growth rate in Core GVA was as much as 6.8 percent lower in 2016-17 compared to 2015-16. This is deceleration with a vengeance.<br /><br />What is more, this deceleration is certain to continue into the next year. There are at least three strong reasons for this.<br /><br />One is that the effect of the increase in Public Administration and Defence will no longer be there, which in turn will affect the economy in two ways. The obvious way is the slowing down in this sector&rsquo;s own growth rate. But the less obvious one is the following.<br /><br />Please <a href="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession" title="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession" class="re" target="_blank">TheCitizen.in, 16 August, 2017, http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession</a><div class="clear"></div>
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    <h1 class="cat-box-title">Economy Plunging Headlong Into Recession -Prabhat Patnaik</h1>
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                            <div align="justify">-TheCitizen.in<br /><br /><em>NEW DELHI: </em>Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy.<br /><br />The growth rate of real Gross Value Added (GVA which is the appropriate thing to look at, since the GDP measure includes net indirect taxes and hence does not truly reflect output trends), was 6.6 percent for 2016-17 as a whole, compared to 7.9 percent for 2015-16.<br /><br />More importantly, the quarterly growth rate (i.e. the growth rate of GVA in a particular quarter over the corresponding quarter of the preceding year) kept declining in every successive quarter during 2016-17, the fourth quarter growth rate being just 5.6 percent, which was roughly 3 percent below that of the fourth quarter of 2015-16.<br /><br />Besides, even this growth rate was artificially boosted by two factors: one was the unusually good agricultural performance because of favourable weather (real GVA growth rate in agriculture was 4.9 percent in 2016-17 compared to a mere 0.7 percent in 2015-16), and the other was the growth in Public Administration and Defence because of the 7th Pay Commission award. (This sector&rsquo;s real GVA growth rate for 2016-17 was 11.3 percent compared to 6.9 percent for 2015-16).<br /><br />If we take out these two sectors then we get what the Survey calls &ldquo;Core GVA&rdquo;. The growth rate of &ldquo;Core GVA&rdquo; was just 6.2 percent in 2016-17 compared to 9.8 percent in 2015-16, a drop of 3.6 percent. And given the fact that the growth rate during the year was not just lower but declining through time, the fourth quarter growth rate in Core GVA was as much as 6.8 percent lower in 2016-17 compared to 2015-16. This is deceleration with a vengeance.<br /><br />What is more, this deceleration is certain to continue into the next year. There are at least three strong reasons for this.<br /><br />One is that the effect of the increase in Public Administration and Defence will no longer be there, which in turn will affect the economy in two ways. The obvious way is the slowing down in this sector&rsquo;s own growth rate. But the less obvious one is the following.<br /><br />Please <a href="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession" title="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession" class="re" target="_blank">TheCitizen.in, 16 August, 2017, http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession</a><div class="clear"></div>
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NEW DELHI: Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy.

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    <h1 class="cat-box-title">Economy Plunging Headlong Into Recession -Prabhat Patnaik</h1>
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                            <div align="justify">-TheCitizen.in<br /><br /><em>NEW DELHI: </em>Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy.<br /><br />The growth rate of real Gross Value Added (GVA which is the appropriate thing to look at, since the GDP measure includes net indirect taxes and hence does not truly reflect output trends), was 6.6 percent for 2016-17 as a whole, compared to 7.9 percent for 2015-16.<br /><br />More importantly, the quarterly growth rate (i.e. the growth rate of GVA in a particular quarter over the corresponding quarter of the preceding year) kept declining in every successive quarter during 2016-17, the fourth quarter growth rate being just 5.6 percent, which was roughly 3 percent below that of the fourth quarter of 2015-16.<br /><br />Besides, even this growth rate was artificially boosted by two factors: one was the unusually good agricultural performance because of favourable weather (real GVA growth rate in agriculture was 4.9 percent in 2016-17 compared to a mere 0.7 percent in 2015-16), and the other was the growth in Public Administration and Defence because of the 7th Pay Commission award. (This sector&rsquo;s real GVA growth rate for 2016-17 was 11.3 percent compared to 6.9 percent for 2015-16).<br /><br />If we take out these two sectors then we get what the Survey calls &ldquo;Core GVA&rdquo;. The growth rate of &ldquo;Core GVA&rdquo; was just 6.2 percent in 2016-17 compared to 9.8 percent in 2015-16, a drop of 3.6 percent. And given the fact that the growth rate during the year was not just lower but declining through time, the fourth quarter growth rate in Core GVA was as much as 6.8 percent lower in 2016-17 compared to 2015-16. This is deceleration with a vengeance.<br /><br />What is more, this deceleration is certain to continue into the next year. There are at least three strong reasons for this.<br /><br />One is that the effect of the increase in Public Administration and Defence will no longer be there, which in turn will affect the economy in two ways. The obvious way is the slowing down in this sector&rsquo;s own growth rate. But the less obvious one is the following.<br /><br />Please <a href="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession" title="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession" class="re" target="_blank">TheCitizen.in, 16 August, 2017, http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession</a><div class="clear"></div>
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Home हिन्दी

Economy Plunging Headlong Into Recession -Prabhat Patnaik

Published on Aug 17, 2017   Modified on Aug 17, 2017

-TheCitizen.in NEW DELHI: Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy. The growth rate of real Gross Value Added (GVA which is the appropriate thing to look at, since the GDP measure includes net indirect taxes and hence does not truly reflect output trends), was 6.6 percent for 2016-17 as a whole, compared to 7.9 percent for 2015-16. More importantly, the quarterly growth rate (i.e. the growth rate of GVA in a particular quarter over the corresponding quarter of the preceding year) kept declining in every successive quarter during 2016-17, the fourth quarter growth rate being just 5.6 percent, which was roughly 3 percent below that of the fourth quarter of 2015-16. Besides, even this growth rate was artificially boosted by two factors: one was the unusually good agricultural performance because of favourable weather (real GVA growth rate in agriculture was 4.9 percent in 2016-17 compared to a mere 0.7 percent in 2015-16), and the other was the growth in Public Administration and Defence because of the 7th Pay Commission award. (This sector’s real GVA growth rate for 2016-17 was 11.3 percent compared to 6.9 percent for 2015-16). If we take out these two sectors then we get what the Survey calls “Core GVA”. The growth rate of “Core GVA” was just 6.2 percent in 2016-17 compared to 9.8 percent in 2015-16, a drop of 3.6 percent. And given the fact that the growth rate during the year was not just lower but declining through time, the fourth quarter growth rate in Core GVA was as much as 6.8 percent lower in 2016-17 compared to 2015-16. This is deceleration with a vengeance. What is more, this deceleration is certain to continue into the next year. There are at least three strong reasons for this. One is that the effect of the increase in Public Administration and Defence will no longer be there, which in turn will affect the economy in two ways. The obvious way is the slowing down in this sector’s own growth rate. But the less obvious one is the following. Please click here to read more.

TheCitizen.in, 16 August, 2017, http://www.thecitizen.in/index.php/NewsDetail/index/1/11484/Economy-Plunging-Headlong-Into-Recession

Tagged with: Economic Survey 2016-17 gross value added Gross Value Added (GVA) Economic Growth Recession

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