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
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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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

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')) {

                trigger_error($message, E_USER_WARNING);

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        LATEST NEWS UPDATES | Govt citing lack of fiscal space for reluctance to provide adequate support to economy is odd -Jahangir Aziz    </title>
    <meta name="description" content="-The Indian Express

What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now.

Sometimes we miss the forest..."/>
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     <meta property="og:description" content="-The Indian Express

What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now.

Sometimes we miss the forest..." />
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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now.</em></p><p style="text-align:justify">Sometimes we miss the forest for the trees, and at other times the trees themselves become the story. That seems to be the case with India&rsquo;s 3Q20 GDP print.</p><p style="text-align:justify">Some have exulted over headline growth printing a &ldquo;better-than-expected&rdquo; -7.5 per cent rate on a year-ago basis, while others, including the RBI, have lamented that this puts India in its first ever &ldquo;technical recession&rdquo;. But neither inference is meaningful. After clocking -24 per cent the previous quarter, printing a growth rate that is one percentage point higher than expected is nothing to write home about and, no, India is not in a technical recession.</p><p style="text-align:justify">The National Bureau of Economic Research (NBER) in the US defines a technical recession to be one where the growth rate is negative for two consecutive quarters. But the growth rate is measured on a quarter-over-quarter, not year-ago, basis. Almost all large economies, including China, publish official quarterly growth numbers. India&rsquo;s CSO doesn&rsquo;t. This leaves us to our own devices. JP Morgan&rsquo;s estimates suggest that on a quarterly basis, India&rsquo;s GDP plunged 25 per cent in 2Q20 and recovered by 21 per cent in 3Q20. India did not suffer two consecutive quarters of negative growth, and, therefore, it is not in a recession.</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/government-cites-lack-of-fiscal-space-for-reluctance-to-provide-adequate-support-to-economy-this-is-odd-7105005/" title="https://indianexpress.com/article/opinion/columns/government-cites-lack-of-fiscal-space-for-reluctance-to-provide-adequate-support-to-economy-this-is-odd-7105005/">click here</a> to read more.</p>                                                           
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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now.</em></p><p style="text-align:justify">Sometimes we miss the forest for the trees, and at other times the trees themselves become the story. That seems to be the case with India&rsquo;s 3Q20 GDP print.</p><p style="text-align:justify">Some have exulted over headline growth printing a &ldquo;better-than-expected&rdquo; -7.5 per cent rate on a year-ago basis, while others, including the RBI, have lamented that this puts India in its first ever &ldquo;technical recession&rdquo;. But neither inference is meaningful. After clocking -24 per cent the previous quarter, printing a growth rate that is one percentage point higher than expected is nothing to write home about and, no, India is not in a technical recession.</p><p style="text-align:justify">The National Bureau of Economic Research (NBER) in the US defines a technical recession to be one where the growth rate is negative for two consecutive quarters. But the growth rate is measured on a quarter-over-quarter, not year-ago, basis. Almost all large economies, including China, publish official quarterly growth numbers. India&rsquo;s CSO doesn&rsquo;t. This leaves us to our own devices. JP Morgan&rsquo;s estimates suggest that on a quarterly basis, India&rsquo;s GDP plunged 25 per cent in 2Q20 and recovered by 21 per cent in 3Q20. India did not suffer two consecutive quarters of negative growth, and, therefore, it is not in a recession.</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/government-cites-lack-of-fiscal-space-for-reluctance-to-provide-adequate-support-to-economy-this-is-odd-7105005/" title="https://indianexpress.com/article/opinion/columns/government-cites-lack-of-fiscal-space-for-reluctance-to-provide-adequate-support-to-economy-this-is-odd-7105005/">click here</a> to read more.</p>                                                           
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     <meta property="og:description" content="-The Indian Express

What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now.

Sometimes we miss the forest..." />
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    <h1 class="cat-box-title">Govt citing lack of fiscal space for reluctance to provide adequate support to economy is odd -Jahangir Aziz</h1>
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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now.</em></p><p style="text-align:justify">Sometimes we miss the forest for the trees, and at other times the trees themselves become the story. That seems to be the case with India&rsquo;s 3Q20 GDP print.</p><p style="text-align:justify">Some have exulted over headline growth printing a &ldquo;better-than-expected&rdquo; -7.5 per cent rate on a year-ago basis, while others, including the RBI, have lamented that this puts India in its first ever &ldquo;technical recession&rdquo;. But neither inference is meaningful. After clocking -24 per cent the previous quarter, printing a growth rate that is one percentage point higher than expected is nothing to write home about and, no, India is not in a technical recession.</p><p style="text-align:justify">The National Bureau of Economic Research (NBER) in the US defines a technical recession to be one where the growth rate is negative for two consecutive quarters. But the growth rate is measured on a quarter-over-quarter, not year-ago, basis. Almost all large economies, including China, publish official quarterly growth numbers. India&rsquo;s CSO doesn&rsquo;t. This leaves us to our own devices. JP Morgan&rsquo;s estimates suggest that on a quarterly basis, India&rsquo;s GDP plunged 25 per cent in 2Q20 and recovered by 21 per cent in 3Q20. India did not suffer two consecutive quarters of negative growth, and, therefore, it is not in a recession.</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/government-cites-lack-of-fiscal-space-for-reluctance-to-provide-adequate-support-to-economy-this-is-odd-7105005/" title="https://indianexpress.com/article/opinion/columns/government-cites-lack-of-fiscal-space-for-reluctance-to-provide-adequate-support-to-economy-this-is-odd-7105005/">click here</a> to read more.</p>                                                           
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Home हिन्दी

Govt citing lack of fiscal space for reluctance to provide adequate support to economy is odd -Jahangir Aziz

Published on Dec 15, 2020   Modified on Dec 16, 2020

-The Indian Express What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now. Sometimes we miss the forest for the trees, and at other times the trees themselves become the story. That seems to be the case with India’s 3Q20 GDP print. Some have exulted over headline growth printing a “better-than-expected” -7.5 per cent rate on a year-ago basis, while others, including the RBI, have lamented that this puts India in its first ever “technical recession”. But neither inference is meaningful. After clocking -24 per cent the previous quarter, printing a growth rate that is one percentage point higher than expected is nothing to write home about and, no, India is not in a technical recession. The National Bureau of Economic Research (NBER) in the US defines a technical recession to be one where the growth rate is negative for two consecutive quarters. But the growth rate is measured on a quarter-over-quarter, not year-ago, basis. Almost all large economies, including China, publish official quarterly growth numbers. India’s CSO doesn’t. This leaves us to our own devices. JP Morgan’s estimates suggest that on a quarterly basis, India’s GDP plunged 25 per cent in 2Q20 and recovered by 21 per cent in 3Q20. India did not suffer two consecutive quarters of negative growth, and, therefore, it is not in a recession. Please click here to read more.

The Indian Express, 15 December, 2020, https://indianexpress.com/article/opinion/columns/government-cites-lack-of-fiscal-space-for-reluctance-to-provide-adequate-support-to-economy-this-is-odd-7105005/

Tagged with: Small and Medium Enterprises SMEs National Bureau of Economic Research NBER Technical Recession Recession Pandemic Purchasing Power Effective Demand

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