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
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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
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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
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
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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 | Recovery analysis that points out what India got wrong -Suvojit Chattopadhyay    </title>
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Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction

A recent World Bank report, titled &ldquo;Correcting Course&rdquo;, captures the impact of the COVID-19 pandemic on global poverty. The number of..."/>
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Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction

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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction</em></p><p style="text-align:justify">A recent <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">World Bank report, titled &ldquo;Correcting Course&rdquo;</a>, captures the impact of the COVID-19 pandemic on global poverty. The number of people living in extreme poverty rose by seven crore million in 2020, as the global poverty rate rose from 8.4% in 2019 to 9.3% in 2020. This is the first time in two decades that the poverty rate has gone up. Global inequalities have widened, evident in the relative impacts felt on incomes in the richest countries as opposed to the poorest; and, unsurprisingly, economic recovery has been similarly uneven.</p><p style="text-align:justify">The <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">report</a> focuses on fiscal policy as an instrument for governments in dealing with crises such as the pandemic. Poorer countries were unable to use fiscal policy as effectively, and thus unable to offset the impact of the pandemic to a much lesser degree than richer countries. The <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">report</a> identifies three priorities for fiscal policy for governments to aid with post-pandemic recovery: Targeted subsidies that benefit the poor; public investment to build resilience in the long term; and revenue mobilisation that should rely on progressive direct taxation rather than indirect taxes.</p><p style="text-align:justify">The focus on fiscal policy has merit. A recent <a href="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf" title="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf">ODI paper, &ldquo;Fiscal policy and income inequality:</a> <a href="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf" title="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf">The role of taxes and social spending&rdquo;</a>, aggregates evidence on social spending and taxes from across the world and comes to a similar conclusion regarding the importance of fiscal policy in post-pandemic recovery.</p><p style="text-align:justify"><em>How India fared</em></p><p style="text-align:justify">So how did India fare? And how does our policy response stack up, given the lessons identified in the reports mentioned above? India&rsquo;s economy continues to be sluggish in 2022, and one should look back at the policy choices that were made back in 2020. The World Bank report relies on the Consumer Pyramids Household Survey (CPHS) by the Centre for Monitoring Indian Economy (CMIE), in the absence of official poverty data since 2011. By their estimate, 5.6 crore people are likely to have slipped into poverty as India&rsquo;s GDP fell by 7.5% in FY2020-21. The population below poverty line in India stood at 10% in 2020.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/recovery-analysis-that-points-out-what-india-got-wrong/article66022869.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/recovery-analysis-that-points-out-what-india-got-wrong/article66022869.ece?homepage=true">click here</a> to read more.&nbsp;</p>                                                           
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Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction

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    <h1 class="cat-box-title">Recovery analysis that points out what India got wrong -Suvojit Chattopadhyay</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction</em></p><p style="text-align:justify">A recent <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">World Bank report, titled &ldquo;Correcting Course&rdquo;</a>, captures the impact of the COVID-19 pandemic on global poverty. The number of people living in extreme poverty rose by seven crore million in 2020, as the global poverty rate rose from 8.4% in 2019 to 9.3% in 2020. This is the first time in two decades that the poverty rate has gone up. Global inequalities have widened, evident in the relative impacts felt on incomes in the richest countries as opposed to the poorest; and, unsurprisingly, economic recovery has been similarly uneven.</p><p style="text-align:justify">The <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">report</a> focuses on fiscal policy as an instrument for governments in dealing with crises such as the pandemic. Poorer countries were unable to use fiscal policy as effectively, and thus unable to offset the impact of the pandemic to a much lesser degree than richer countries. The <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">report</a> identifies three priorities for fiscal policy for governments to aid with post-pandemic recovery: Targeted subsidies that benefit the poor; public investment to build resilience in the long term; and revenue mobilisation that should rely on progressive direct taxation rather than indirect taxes.</p><p style="text-align:justify">The focus on fiscal policy has merit. A recent <a href="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf" title="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf">ODI paper, &ldquo;Fiscal policy and income inequality:</a> <a href="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf" title="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf">The role of taxes and social spending&rdquo;</a>, aggregates evidence on social spending and taxes from across the world and comes to a similar conclusion regarding the importance of fiscal policy in post-pandemic recovery.</p><p style="text-align:justify"><em>How India fared</em></p><p style="text-align:justify">So how did India fare? And how does our policy response stack up, given the lessons identified in the reports mentioned above? India&rsquo;s economy continues to be sluggish in 2022, and one should look back at the policy choices that were made back in 2020. The World Bank report relies on the Consumer Pyramids Household Survey (CPHS) by the Centre for Monitoring Indian Economy (CMIE), in the absence of official poverty data since 2011. By their estimate, 5.6 crore people are likely to have slipped into poverty as India&rsquo;s GDP fell by 7.5% in FY2020-21. The population below poverty line in India stood at 10% in 2020.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/recovery-analysis-that-points-out-what-india-got-wrong/article66022869.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/recovery-analysis-that-points-out-what-india-got-wrong/article66022869.ece?homepage=true">click here</a> to read more.&nbsp;</p>                                                           
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        LATEST NEWS UPDATES | Recovery analysis that points out what India got wrong -Suvojit Chattopadhyay    </title>
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Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction

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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction</em></p><p style="text-align:justify">A recent <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">World Bank report, titled &ldquo;Correcting Course&rdquo;</a>, captures the impact of the COVID-19 pandemic on global poverty. The number of people living in extreme poverty rose by seven crore million in 2020, as the global poverty rate rose from 8.4% in 2019 to 9.3% in 2020. This is the first time in two decades that the poverty rate has gone up. Global inequalities have widened, evident in the relative impacts felt on incomes in the richest countries as opposed to the poorest; and, unsurprisingly, economic recovery has been similarly uneven.</p><p style="text-align:justify">The <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">report</a> focuses on fiscal policy as an instrument for governments in dealing with crises such as the pandemic. Poorer countries were unable to use fiscal policy as effectively, and thus unable to offset the impact of the pandemic to a much lesser degree than richer countries. The <a href="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf" title="https://im4change.org/upload/files/World%20Bank%20Report%20on%20Poverty.pdf">report</a> identifies three priorities for fiscal policy for governments to aid with post-pandemic recovery: Targeted subsidies that benefit the poor; public investment to build resilience in the long term; and revenue mobilisation that should rely on progressive direct taxation rather than indirect taxes.</p><p style="text-align:justify">The focus on fiscal policy has merit. A recent <a href="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf" title="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf">ODI paper, &ldquo;Fiscal policy and income inequality:</a> <a href="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf" title="/upload/files/ODI_Report_Fiscal_policy_and_income_inequality_the_role_of_taxes_and_social_sp_GwknCLd.pdf">The role of taxes and social spending&rdquo;</a>, aggregates evidence on social spending and taxes from across the world and comes to a similar conclusion regarding the importance of fiscal policy in post-pandemic recovery.</p><p style="text-align:justify"><em>How India fared</em></p><p style="text-align:justify">So how did India fare? And how does our policy response stack up, given the lessons identified in the reports mentioned above? India&rsquo;s economy continues to be sluggish in 2022, and one should look back at the policy choices that were made back in 2020. The World Bank report relies on the Consumer Pyramids Household Survey (CPHS) by the Centre for Monitoring Indian Economy (CMIE), in the absence of official poverty data since 2011. By their estimate, 5.6 crore people are likely to have slipped into poverty as India&rsquo;s GDP fell by 7.5% in FY2020-21. The population below poverty line in India stood at 10% in 2020.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/recovery-analysis-that-points-out-what-india-got-wrong/article66022869.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/recovery-analysis-that-points-out-what-india-got-wrong/article66022869.ece?homepage=true">click here</a> to read more.&nbsp;</p>                                                           
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Recovery analysis that points out what India got wrong -Suvojit Chattopadhyay

Published on Oct 18, 2022   Modified on Oct 18, 2022

-The Hindu Being fiscally conservative resulted in a rise in extreme poverty, with there being no signs of any course correction A recent World Bank report, titled “Correcting Course”, captures the impact of the COVID-19 pandemic on global poverty. The number of people living in extreme poverty rose by seven crore million in 2020, as the global poverty rate rose from 8.4% in 2019 to 9.3% in 2020. This is the first time in two decades that the poverty rate has gone up. Global inequalities have widened, evident in the relative impacts felt on incomes in the richest countries as opposed to the poorest; and, unsurprisingly, economic recovery has been similarly uneven. The report focuses on fiscal policy as an instrument for governments in dealing with crises such as the pandemic. Poorer countries were unable to use fiscal policy as effectively, and thus unable to offset the impact of the pandemic to a much lesser degree than richer countries. The report identifies three priorities for fiscal policy for governments to aid with post-pandemic recovery: Targeted subsidies that benefit the poor; public investment to build resilience in the long term; and revenue mobilisation that should rely on progressive direct taxation rather than indirect taxes. The focus on fiscal policy has merit. A recent ODI paper, “Fiscal policy and income inequality: The role of taxes and social spending”, aggregates evidence on social spending and taxes from across the world and comes to a similar conclusion regarding the importance of fiscal policy in post-pandemic recovery. How India fared So how did India fare? And how does our policy response stack up, given the lessons identified in the reports mentioned above? India’s economy continues to be sluggish in 2022, and one should look back at the policy choices that were made back in 2020. The World Bank report relies on the Consumer Pyramids Household Survey (CPHS) by the Centre for Monitoring Indian Economy (CMIE), in the absence of official poverty data since 2011. By their estimate, 5.6 crore people are likely to have slipped into poverty as India’s GDP fell by 7.5% in FY2020-21. The population below poverty line in India stood at 10% in 2020. Please click here to read more.

The Hindu, 18 October, 2022, https://www.thehindu.com/opinion/op-ed/recovery-analysis-that-points-out-what-india-got-wrong/article66022869.ece?homepage=true

Tagged with: Poverty World Bank Fiscal Deficit Fiscal policy Taxation

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