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<strong>The dangers of misplaced optimism -CP Chandrasekhar</strong></h1>
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<p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The government’s economic recovery hype is off track and this is not a time for fiscal conservatism</em></p><p style="text-align:justify">Preliminary evidence that India’s economy contracted by 7.5% in the second quarter of financial year 2020-21 was, as news, both good and bad. Good because that figure is far lower than the 23.9% contraction registered in the first quarter of this financial year. Bad because a 7.5% second quarter contraction is high both in itself and when compared with most similarly placed countries. The figure signals that the substantial relaxation of lockdown restrictions during that quarter has not ensured automatic recovery.</p><p style="text-align:justify">The government, however, sticks with its recovery hype. It has chosen to focus on the unsurprising evidence that GDP rose sharply, by 23%, between the first quarter, when the national lockdown following the pandemic was severe, and the second when restrictions were substantially lifted. Based on that evidence, the Finance Ministry’s Monthly Economic Report, for November, speaks of a V-shaped recovery reflective of “the resilience and robustness of the Indian economy”. The danger is that such optimism would provide the justification to avoid adoption of the measures crucially needed to pull the economy out of recession.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true" title="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true">click here</a> to read more.</p> </font>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true">click here</a> to read more.</p>
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The government’s economic recovery hype is off track and this is not a time for fiscal conservatism
Preliminary evidence that India’s economy contracted by 7.5% in the second quarter of financial year 2020-21 was, as news, both good and bad...."/>
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<strong>The dangers of misplaced optimism -CP Chandrasekhar</strong></h1>
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<p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The government’s economic recovery hype is off track and this is not a time for fiscal conservatism</em></p><p style="text-align:justify">Preliminary evidence that India’s economy contracted by 7.5% in the second quarter of financial year 2020-21 was, as news, both good and bad. Good because that figure is far lower than the 23.9% contraction registered in the first quarter of this financial year. Bad because a 7.5% second quarter contraction is high both in itself and when compared with most similarly placed countries. The figure signals that the substantial relaxation of lockdown restrictions during that quarter has not ensured automatic recovery.</p><p style="text-align:justify">The government, however, sticks with its recovery hype. It has chosen to focus on the unsurprising evidence that GDP rose sharply, by 23%, between the first quarter, when the national lockdown following the pandemic was severe, and the second when restrictions were substantially lifted. Based on that evidence, the Finance Ministry’s Monthly Economic Report, for November, speaks of a V-shaped recovery reflective of “the resilience and robustness of the Indian economy”. The danger is that such optimism would provide the justification to avoid adoption of the measures crucially needed to pull the economy out of recession.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true" title="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true">click here</a> to read more.</p> </font>
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<p style="text-align:justify">Preliminary evidence that India&rsquo;s economy contracted by 7.5% in the second quarter of financial year 2020-21 was, as news, both good and bad. Good because that figure is far lower than the 23.9% contraction registered in the first quarter of this financial year. Bad because a 7.5% second quarter contraction is high both in itself and when compared with most similarly placed countries. The figure signals that the substantial relaxation of lockdown restrictions during that quarter has not ensured automatic recovery.</p>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true">click here</a> to read more.</p>
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The government’s economic recovery hype is off track and this is not a time for fiscal conservatism
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<strong>The dangers of misplaced optimism -CP Chandrasekhar</strong></h1>
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<p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>The government’s economic recovery hype is off track and this is not a time for fiscal conservatism</em></p><p style="text-align:justify">Preliminary evidence that India’s economy contracted by 7.5% in the second quarter of financial year 2020-21 was, as news, both good and bad. Good because that figure is far lower than the 23.9% contraction registered in the first quarter of this financial year. Bad because a 7.5% second quarter contraction is high both in itself and when compared with most similarly placed countries. The figure signals that the substantial relaxation of lockdown restrictions during that quarter has not ensured automatic recovery.</p><p style="text-align:justify">The government, however, sticks with its recovery hype. It has chosen to focus on the unsurprising evidence that GDP rose sharply, by 23%, between the first quarter, when the national lockdown following the pandemic was severe, and the second when restrictions were substantially lifted. Based on that evidence, the Finance Ministry’s Monthly Economic Report, for November, speaks of a V-shaped recovery reflective of “the resilience and robustness of the Indian economy”. The danger is that such optimism would provide the justification to avoid adoption of the measures crucially needed to pull the economy out of recession.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true" title="https://www.thehindu.com/opinion/lead/the-dangers-of-misplaced-optimism/article33282843.ece?homepage=true">click here</a> to read more.</p> </font>
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LATEST NEWS UPDATES | The dangers of misplaced optimism -CP Chandrasekhar | Im4change.org
The dangers of misplaced optimism -CP Chandrasekhar
-The Hindu
The government’s economic recovery hype is off track and this is not a time for fiscal conservatism
Preliminary evidence that India’s economy contracted by 7.5% in the second quarter of financial year 2020-21 was, as news, both good and bad. Good because that figure is far lower than the 23.9% contraction registered in the first quarter of this financial year. Bad because a 7.5% second quarter contraction is high both in itself and when compared with most similarly placed countries. The figure signals that the substantial relaxation of lockdown restrictions during that quarter has not ensured automatic recovery.
The government, however, sticks with its recovery hype. It has chosen to focus on the unsurprising evidence that GDP rose sharply, by 23%, between the first quarter, when the national lockdown following the pandemic was severe, and the second when restrictions were substantially lifted. Based on that evidence, the Finance Ministry’s Monthly Economic Report, for November, speaks of a V-shaped recovery reflective of “the resilience and robustness of the Indian economy”. The danger is that such optimism would provide the justification to avoid adoption of the measures crucially needed to pull the economy out of recession.
