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: 73
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
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: 74
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 74
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 88
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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&lt;p style=&quot;text-align:justify&quot;&gt;The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;But even at the official figure of minus 24 per cent, India&amp;rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&amp;rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&amp;rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&amp;rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
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&lt;p style=&quot;text-align:justify&quot;&gt;To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.&lt;/p&gt;

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                <strong>Six years of Modi govt’s rule has led Indian economy to near collapse -Prabhat Patnaik</strong></h1>
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                <p style="text-align:justify">-National Herald</p><p style="text-align:justify"><em>If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services</em></p><p style="text-align:justify">The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.</p><p style="text-align:justify">But even at the official figure of minus 24 per cent, India&rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.</p><p style="text-align:justify">To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.</p><p style="text-align:justify">Please <a href="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg" title="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg">click here</a> to read more.</p>               </font>
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.&lt;/p&gt;

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&lt;p style=&quot;text-align:justify&quot;&gt;To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
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If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services

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                <strong>Six years of Modi govt’s rule has led Indian economy to near collapse -Prabhat Patnaik</strong></h1>
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                <p style="text-align:justify">-National Herald</p><p style="text-align:justify"><em>If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services</em></p><p style="text-align:justify">The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.</p><p style="text-align:justify">But even at the official figure of minus 24 per cent, India&rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.</p><p style="text-align:justify">To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.</p><p style="text-align:justify">Please <a href="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg" title="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg">click here</a> to read more.</p>               </font>
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&lt;p style=&quot;text-align:justify&quot;&gt;To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.&lt;/p&gt;

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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;But even at the official figure of minus 24 per cent, India&amp;rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&amp;rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&amp;rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&amp;rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
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If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services

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$disp = &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-National Herald&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;But even at the official figure of minus 24 per cent, India&amp;rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&amp;rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&amp;rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&amp;rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg&quot; title=&quot;https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;&#039;
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If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services

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                <strong>Six years of Modi govt’s rule has led Indian economy to near collapse -Prabhat Patnaik</strong></h1>
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                <p style="text-align:justify">-National Herald</p><p style="text-align:justify"><em>If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services</em></p><p style="text-align:justify">The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.</p><p style="text-align:justify">But even at the official figure of minus 24 per cent, India&rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.</p><p style="text-align:justify">To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.</p><p style="text-align:justify">Please <a href="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg" title="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg">click here</a> to read more.</p>               </font>
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		'description' => '<p style="text-align:justify">-National Herald</p>

<p style="text-align:justify"><em>If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services</em></p>

<p style="text-align:justify">The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.</p>

<p style="text-align:justify">But even at the official figure of minus 24 per cent, India&rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.</p>

<p style="text-align:justify">To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.</p>

<p style="text-align:justify">Please <a href="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg">click here</a> to read more.</p>
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If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services

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<p style="text-align:justify"><em>If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services</em></p>

<p style="text-align:justify">The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.</p>

<p style="text-align:justify">But even at the official figure of minus 24 per cent, India&rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.</p>

<p style="text-align:justify">To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.</p>

<p style="text-align:justify">Please <a href="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg">click here</a> to read more.</p>
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$metaTitle = 'LATEST NEWS UPDATES | Six years of Modi govt’s rule has led Indian economy to near collapse -Prabhat Patnaik'
$metaKeywords = 'Covid-19,Coronavirus,Lockdown,Economic Growth,GDP Growth,Economic Contraction'
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If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services

The GDP growth in the first...'
$disp = '<p style="text-align:justify">-National Herald</p><p style="text-align:justify"><em>If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services</em></p><p style="text-align:justify">The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher.</p><p style="text-align:justify">But even at the official figure of minus 24 per cent, India&rsquo;s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India&rsquo;s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours&rsquo; notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India&rsquo;s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue.</p><p style="text-align:justify">To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown.</p><p style="text-align:justify">Please <a href="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg" title="https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse?fbclid=IwAR16RVQNmruSqgIVt8PvR96F6JnGOEha-UidAIhMGvwMRyEvOCfLIo-WFCg">click here</a> to read more.</p>'
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Six years of Modi govt’s rule has led Indian economy to near collapse -Prabhat Patnaik

-National Herald If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per cent. Others put the figure even higher. But even at the official figure of minus 24 per cent, India’s first quarter contraction has been greater than that of any other major economy of the world. This is hardly surprising since India’s lockdown too, whose main phase coincided precisely with the first quarter, had been the most draconian among all major economies. It not only was announced at four hours’ notice, but also involved shutting down a much larger segment of the economy. Of course, even this draconian lockdown had little effect on the spread of the Coronavirus: India’s daily addition to COVID-19 cases is still climbing, long after the lockdown has been relaxed, while that of almost every other country of the world has started coming down; but that is a separate issue. To see the implications of this fact let us assume for a moment that with the lifting of the lockdown, employment and income recover completely to equal what they were before the lockdown (which would never really happen since investment always takes some time to recover, but let us momentarily ignore this fact). At this level of output however, there would be a lower level of demand than before the lockdown, because the workers would be skimping on their consumption in order to payback debts. There would therefore be a crisis of over-production because of which output will, for this reason alone, be lower than before the lockdown. Please click here to read more.