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
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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\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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        LATEST NEWS UPDATES | Plunging down -Prabhat Patnaik    </title>
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The Indian economy is in a quagmire

Data released by the National Statistical Office, which show the gross domestic product for the second quarter (July-September) of 2020-21 declining by &ldquo;only&rdquo; 7.5 per cent compared to the second quarter of the..."/>
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     <meta property="og:description" content="-The Telegraph

The Indian economy is in a quagmire

Data released by the National Statistical Office, which show the gross domestic product for the second quarter (July-September) of 2020-21 declining by &ldquo;only&rdquo; 7.5 per cent compared to the second quarter of the..." />
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                            <p style="text-align:justify">-The Telegraph</p><p style="text-align:justify"><em>The Indian economy is in a quagmire</em></p><p style="text-align:justify">Data released by the National Statistical Office, which show the gross domestic product for the second quarter (July-September) of 2020-21 declining by &ldquo;only&rdquo; 7.5 per cent compared to the second quarter of the previous year, have been hailed in official circles as &ldquo;good news&rdquo;; on the contrary, they show the economy being stuck in a quagmire.</p><p style="text-align:justify">The first point to note is that while GDP declined by 7.5 per cent, private consumption in real terms fell by even more &mdash; by 11.32 per cent &mdash; which means that the share of consumption in GDP was lower compared to a year ago. Exactly the same is also true of the first quarter of 2020-21, so that during the entire first half of the current year private consumption has fallen more than the GDP compared to a year ago.</p><p style="text-align:justify">This seems strange. When income falls people do not lower their consumption proportionately. They run down cash reserves, or borrow, in order to maintain their consumption to whatever extent possible. The ratio of private consumption to GDP, therefore, is normally expected to increase when GDP falls. The fact that the opposite has happened and the ratio of private consumption to GDP has fallen suggests that the incomes of the working people must have fallen even more than GDP in this period, so that despite running down cash reserves and borrowing, they still could not maintain the share of private consumption in GDP.</p><p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/plunging-down-the-indian-economy-is-in-a-quagmire/cid/1799921?fbclid=IwAR1Yw5EwIrq9JK6RggByp3tMcieQPDwioviWgJ3ks0XGW4s-vJUaJ5bVIPY" title="https://www.telegraphindia.com/opinion/plunging-down-the-indian-economy-is-in-a-quagmire/cid/1799921?fbclid=IwAR1Yw5EwIrq9JK6RggByp3tMcieQPDwioviWgJ3ks0XGW4s-vJUaJ5bVIPY">click here</a> to read more.</p>                                                           
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    <h1 class="cat-box-title">Plunging down -Prabhat Patnaik</h1>
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		 Published on</span><span class="text-date"> Dec 9, 2020</span>
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                            <p style="text-align:justify">-The Telegraph</p><p style="text-align:justify"><em>The Indian economy is in a quagmire</em></p><p style="text-align:justify">Data released by the National Statistical Office, which show the gross domestic product for the second quarter (July-September) of 2020-21 declining by &ldquo;only&rdquo; 7.5 per cent compared to the second quarter of the previous year, have been hailed in official circles as &ldquo;good news&rdquo;; on the contrary, they show the economy being stuck in a quagmire.</p><p style="text-align:justify">The first point to note is that while GDP declined by 7.5 per cent, private consumption in real terms fell by even more &mdash; by 11.32 per cent &mdash; which means that the share of consumption in GDP was lower compared to a year ago. Exactly the same is also true of the first quarter of 2020-21, so that during the entire first half of the current year private consumption has fallen more than the GDP compared to a year ago.</p><p style="text-align:justify">This seems strange. When income falls people do not lower their consumption proportionately. They run down cash reserves, or borrow, in order to maintain their consumption to whatever extent possible. The ratio of private consumption to GDP, therefore, is normally expected to increase when GDP falls. The fact that the opposite has happened and the ratio of private consumption to GDP has fallen suggests that the incomes of the working people must have fallen even more than GDP in this period, so that despite running down cash reserves and borrowing, they still could not maintain the share of private consumption in GDP.</p><p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/plunging-down-the-indian-economy-is-in-a-quagmire/cid/1799921?fbclid=IwAR1Yw5EwIrq9JK6RggByp3tMcieQPDwioviWgJ3ks0XGW4s-vJUaJ5bVIPY" title="https://www.telegraphindia.com/opinion/plunging-down-the-indian-economy-is-in-a-quagmire/cid/1799921?fbclid=IwAR1Yw5EwIrq9JK6RggByp3tMcieQPDwioviWgJ3ks0XGW4s-vJUaJ5bVIPY">click here</a> to read more.</p>                                                           
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The Indian economy is in a quagmire

Data released by the National Statistical Office, which show the gross domestic product for the second quarter (July-September) of 2020-21 declining by &ldquo;only&rdquo; 7.5 per cent compared to the second quarter of the..." />
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    <h1 class="cat-box-title">Plunging down -Prabhat Patnaik</h1>
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		 Published on</span><span class="text-date"> Dec 9, 2020</span>
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                            <p style="text-align:justify">-The Telegraph</p><p style="text-align:justify"><em>The Indian economy is in a quagmire</em></p><p style="text-align:justify">Data released by the National Statistical Office, which show the gross domestic product for the second quarter (July-September) of 2020-21 declining by &ldquo;only&rdquo; 7.5 per cent compared to the second quarter of the previous year, have been hailed in official circles as &ldquo;good news&rdquo;; on the contrary, they show the economy being stuck in a quagmire.</p><p style="text-align:justify">The first point to note is that while GDP declined by 7.5 per cent, private consumption in real terms fell by even more &mdash; by 11.32 per cent &mdash; which means that the share of consumption in GDP was lower compared to a year ago. Exactly the same is also true of the first quarter of 2020-21, so that during the entire first half of the current year private consumption has fallen more than the GDP compared to a year ago.</p><p style="text-align:justify">This seems strange. When income falls people do not lower their consumption proportionately. They run down cash reserves, or borrow, in order to maintain their consumption to whatever extent possible. The ratio of private consumption to GDP, therefore, is normally expected to increase when GDP falls. The fact that the opposite has happened and the ratio of private consumption to GDP has fallen suggests that the incomes of the working people must have fallen even more than GDP in this period, so that despite running down cash reserves and borrowing, they still could not maintain the share of private consumption in GDP.</p><p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/plunging-down-the-indian-economy-is-in-a-quagmire/cid/1799921?fbclid=IwAR1Yw5EwIrq9JK6RggByp3tMcieQPDwioviWgJ3ks0XGW4s-vJUaJ5bVIPY" title="https://www.telegraphindia.com/opinion/plunging-down-the-indian-economy-is-in-a-quagmire/cid/1799921?fbclid=IwAR1Yw5EwIrq9JK6RggByp3tMcieQPDwioviWgJ3ks0XGW4s-vJUaJ5bVIPY">click here</a> to read more.</p>                                                           
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Home हिन्दी

Plunging down -Prabhat Patnaik

Published on Dec 9, 2020   Modified on Dec 10, 2020

-The Telegraph The Indian economy is in a quagmire Data released by the National Statistical Office, which show the gross domestic product for the second quarter (July-September) of 2020-21 declining by “only” 7.5 per cent compared to the second quarter of the previous year, have been hailed in official circles as “good news”; on the contrary, they show the economy being stuck in a quagmire. The first point to note is that while GDP declined by 7.5 per cent, private consumption in real terms fell by even more — by 11.32 per cent — which means that the share of consumption in GDP was lower compared to a year ago. Exactly the same is also true of the first quarter of 2020-21, so that during the entire first half of the current year private consumption has fallen more than the GDP compared to a year ago. This seems strange. When income falls people do not lower their consumption proportionately. They run down cash reserves, or borrow, in order to maintain their consumption to whatever extent possible. The ratio of private consumption to GDP, therefore, is normally expected to increase when GDP falls. The fact that the opposite has happened and the ratio of private consumption to GDP has fallen suggests that the incomes of the working people must have fallen even more than GDP in this period, so that despite running down cash reserves and borrowing, they still could not maintain the share of private consumption in GDP. Please click here to read more.

The Telegraph, 9 December, 2020, https://www.telegraphindia.com/opinion/plunging-down-the-indian-economy-is-in-a-quagmire/cid/1799921?fbclid=IwAR1Yw5EwIrq9JK6RggByp3tMcieQPDwioviWgJ3ks0XGW4s-vJUaJ5bVIPY

Tagged with: GDP Growth Economic Growth Private Consumption Private Investment Government Expenditure GFCF Gross Fixed Capital Formation Fiscal Responsibility and Budget Management Act FRBM Act

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