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
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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
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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);

            } else {
$response = object(Cake\Http\Response) {

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        LATEST NEWS UPDATES | India must aim for wider consumer base, direct public spending accordingly -Suvodeep Rakshit and Avijit Puri    </title>
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To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative..."/>
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    <h1 class="cat-box-title">India must aim for wider consumer base, direct public spending accordingly -Suvodeep Rakshit and Avijit Puri</h1>
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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative and judicial hurdles.</em></p><p style="text-align:justify">India entered the pandemic with declining growth and limited scope for a conventional and large fiscal stimulus. We had noted in an article (IE, January 20, &lsquo;Limited scope for sharp recovery&lsquo;) that India&rsquo;s slowdown was largely a structural demand problem that cannot be addressed through piecemeal aid and transfers. Consumption growth provides limited scope for a sharp recovery over the medium term without exogenous (and often unsustainable) triggers. With or without the pandemic, the prescriptions for long-term growth remain the same &mdash; broaden the consumer base by empowering the low and middle-income consumers rather than pushing consumption itself. As India emerges out of the &ldquo;relief&rdquo; phase, the policy focus needs to shift towards the &ldquo;rebuild&rdquo; and &ldquo;recover&rdquo; phase.</p><p style="text-align:justify">India&rsquo;s real GDP growth prospects are in sharp contrast to the growth seen over the past 10-15 years when it was marked by three phases: First, when growth was driven by domestic investment and global growth; second, the post-global financial crisis stimulus phase, and third, the leveraged consumption phase. The economy is estimated to have lost around Rs 20-28 trillion due to a lockdown, with FY2021 growth likely to be around (-) 11.5 per cent. So, why can&rsquo;t the government just spend to revive growth?</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/" title="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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    <br><a href="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/" class="re" target="_blank">The Indian Express, 2 September, 2020, https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/</a><div class="clear"></div>
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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative and judicial hurdles.</em></p><p style="text-align:justify">India entered the pandemic with declining growth and limited scope for a conventional and large fiscal stimulus. We had noted in an article (IE, January 20, &lsquo;Limited scope for sharp recovery&lsquo;) that India&rsquo;s slowdown was largely a structural demand problem that cannot be addressed through piecemeal aid and transfers. Consumption growth provides limited scope for a sharp recovery over the medium term without exogenous (and often unsustainable) triggers. With or without the pandemic, the prescriptions for long-term growth remain the same &mdash; broaden the consumer base by empowering the low and middle-income consumers rather than pushing consumption itself. As India emerges out of the &ldquo;relief&rdquo; phase, the policy focus needs to shift towards the &ldquo;rebuild&rdquo; and &ldquo;recover&rdquo; phase.</p><p style="text-align:justify">India&rsquo;s real GDP growth prospects are in sharp contrast to the growth seen over the past 10-15 years when it was marked by three phases: First, when growth was driven by domestic investment and global growth; second, the post-global financial crisis stimulus phase, and third, the leveraged consumption phase. The economy is estimated to have lost around Rs 20-28 trillion due to a lockdown, with FY2021 growth likely to be around (-) 11.5 per cent. So, why can&rsquo;t the government just spend to revive growth?</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/" title="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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    <br><a href="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/" class="re" target="_blank">The Indian Express, 2 September, 2020, https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/</a><div class="clear"></div>
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To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative..."/>
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To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative..." />
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    <h1 class="cat-box-title">India must aim for wider consumer base, direct public spending accordingly -Suvodeep Rakshit and Avijit Puri</h1>
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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative and judicial hurdles.</em></p><p style="text-align:justify">India entered the pandemic with declining growth and limited scope for a conventional and large fiscal stimulus. We had noted in an article (IE, January 20, &lsquo;Limited scope for sharp recovery&lsquo;) that India&rsquo;s slowdown was largely a structural demand problem that cannot be addressed through piecemeal aid and transfers. Consumption growth provides limited scope for a sharp recovery over the medium term without exogenous (and often unsustainable) triggers. With or without the pandemic, the prescriptions for long-term growth remain the same &mdash; broaden the consumer base by empowering the low and middle-income consumers rather than pushing consumption itself. As India emerges out of the &ldquo;relief&rdquo; phase, the policy focus needs to shift towards the &ldquo;rebuild&rdquo; and &ldquo;recover&rdquo; phase.</p><p style="text-align:justify">India&rsquo;s real GDP growth prospects are in sharp contrast to the growth seen over the past 10-15 years when it was marked by three phases: First, when growth was driven by domestic investment and global growth; second, the post-global financial crisis stimulus phase, and third, the leveraged consumption phase. The economy is estimated to have lost around Rs 20-28 trillion due to a lockdown, with FY2021 growth likely to be around (-) 11.5 per cent. So, why can&rsquo;t the government just spend to revive growth?</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/" title="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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    <br><a href="https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/" class="re" target="_blank">The Indian Express, 2 September, 2020, https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/</a><div class="clear"></div>
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Home हिन्दी

India must aim for wider consumer base, direct public spending accordingly -Suvodeep Rakshit and Avijit Puri

Published on Sep 2, 2020   Modified on Sep 3, 2020

-The Indian Express To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative and judicial hurdles. India entered the pandemic with declining growth and limited scope for a conventional and large fiscal stimulus. We had noted in an article (IE, January 20, ‘Limited scope for sharp recovery‘) that India’s slowdown was largely a structural demand problem that cannot be addressed through piecemeal aid and transfers. Consumption growth provides limited scope for a sharp recovery over the medium term without exogenous (and often unsustainable) triggers. With or without the pandemic, the prescriptions for long-term growth remain the same — broaden the consumer base by empowering the low and middle-income consumers rather than pushing consumption itself. As India emerges out of the “relief” phase, the policy focus needs to shift towards the “rebuild” and “recover” phase. India’s real GDP growth prospects are in sharp contrast to the growth seen over the past 10-15 years when it was marked by three phases: First, when growth was driven by domestic investment and global growth; second, the post-global financial crisis stimulus phase, and third, the leveraged consumption phase. The economy is estimated to have lost around Rs 20-28 trillion due to a lockdown, with FY2021 growth likely to be around (-) 11.5 per cent. So, why can’t the government just spend to revive growth? Please click here to read more.

The Indian Express, 2 September, 2020, https://indianexpress.com/article/opinion/columns/coronavirus-pandemic-indian-economy-gdp-impact-job-loss-vaccine-6579383/

Tagged with: GDP Growth Economic Growth Infrastructure Deficit

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