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
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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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                            <div align="justify">-Livemint.com<br /><br /><em>It is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth<br /></em><br />The second volume of the Economic Survey was presented on the last day of the monsoon session of Parliament on 11 August, preventing Parliament from holding a discussion on the state of the economy as outlined by the report.<br /><br />The second instalment, a departure from past practice, was necessitated by the shifting of the budget presentation to 1 February. But it was also necessary given the lack of available data on the economy, more so given the uncertainty surrounding the demonetization exercise of November-December.<br /><br />Since then, the spectre of demonetization seems to have faded but the uncertainty created by the goods and services tax (GST) is still looming on the economy. Both demonetization and GST have been shocks to the economy, the impact of which will take time to unravel in an economy already struggling with low investment, low credit, low exports and low demand.<br /><br />Given all these, the Economic Survey has been candid in its assessment of not just what happened in the last fiscal year but more in terms of what is likely to happen in the future. A quick reading of the assessment in the Survey does not provide a very optimistic picture of the economy despite claims to the contrary by government officials. While the Survey has been cautious in calling out an impending crisis in the economy, it does raise questions on the sustainability of economic growth give the spectre of deflation looming large.<br /><br />But how serious is the deflationary spectre? Going by the analysis, it does appear real. And it is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth. Almost all indicators including gross domestic product, core gross value-added (excluding agriculture and government), the index of industrial production (IIP), credit, investment and capacity utilization point to a deceleration in economic activity. Not surprisingly, the Survey notes that the growth of 7% in the past two years is more of an exception. The Survey has already moderated its growth projections to the lower end of the 6.75-7.5% range predicted in the first volume.<br /><br />But it is not just the macro indicators which defy the GDP estimates. The evidence on jobs and the agricultural sector are also suggesting a serious problem with the economy. While employment estimates from available sources continue to suggest either a decline in jobs or at best sluggish growth with jobs continuing to elude a majority of the young entering the labour market, the decline in real wages in the last three years is also confirmation of a weak labour market. <br /><br />Please <a href="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html" title="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html" class="re" target="_blank">Livemint.com, 29 August, 2017, http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html</a><div class="clear"></div>
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    <h1 class="cat-box-title">The spectre of deflation -Himanshu</h1>
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                            <div align="justify">-Livemint.com<br /><br /><em>It is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth<br /></em><br />The second volume of the Economic Survey was presented on the last day of the monsoon session of Parliament on 11 August, preventing Parliament from holding a discussion on the state of the economy as outlined by the report.<br /><br />The second instalment, a departure from past practice, was necessitated by the shifting of the budget presentation to 1 February. But it was also necessary given the lack of available data on the economy, more so given the uncertainty surrounding the demonetization exercise of November-December.<br /><br />Since then, the spectre of demonetization seems to have faded but the uncertainty created by the goods and services tax (GST) is still looming on the economy. Both demonetization and GST have been shocks to the economy, the impact of which will take time to unravel in an economy already struggling with low investment, low credit, low exports and low demand.<br /><br />Given all these, the Economic Survey has been candid in its assessment of not just what happened in the last fiscal year but more in terms of what is likely to happen in the future. A quick reading of the assessment in the Survey does not provide a very optimistic picture of the economy despite claims to the contrary by government officials. While the Survey has been cautious in calling out an impending crisis in the economy, it does raise questions on the sustainability of economic growth give the spectre of deflation looming large.<br /><br />But how serious is the deflationary spectre? Going by the analysis, it does appear real. And it is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth. Almost all indicators including gross domestic product, core gross value-added (excluding agriculture and government), the index of industrial production (IIP), credit, investment and capacity utilization point to a deceleration in economic activity. Not surprisingly, the Survey notes that the growth of 7% in the past two years is more of an exception. The Survey has already moderated its growth projections to the lower end of the 6.75-7.5% range predicted in the first volume.<br /><br />But it is not just the macro indicators which defy the GDP estimates. The evidence on jobs and the agricultural sector are also suggesting a serious problem with the economy. While employment estimates from available sources continue to suggest either a decline in jobs or at best sluggish growth with jobs continuing to elude a majority of the young entering the labour market, the decline in real wages in the last three years is also confirmation of a weak labour market. <br /><br />Please <a href="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html" title="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html" class="re" target="_blank">Livemint.com, 29 August, 2017, http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html</a><div class="clear"></div>
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    <h1 class="cat-box-title">The spectre of deflation -Himanshu</h1>
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                            <div align="justify">-Livemint.com<br /><br /><em>It is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth<br /></em><br />The second volume of the Economic Survey was presented on the last day of the monsoon session of Parliament on 11 August, preventing Parliament from holding a discussion on the state of the economy as outlined by the report.<br /><br />The second instalment, a departure from past practice, was necessitated by the shifting of the budget presentation to 1 February. But it was also necessary given the lack of available data on the economy, more so given the uncertainty surrounding the demonetization exercise of November-December.<br /><br />Since then, the spectre of demonetization seems to have faded but the uncertainty created by the goods and services tax (GST) is still looming on the economy. Both demonetization and GST have been shocks to the economy, the impact of which will take time to unravel in an economy already struggling with low investment, low credit, low exports and low demand.<br /><br />Given all these, the Economic Survey has been candid in its assessment of not just what happened in the last fiscal year but more in terms of what is likely to happen in the future. A quick reading of the assessment in the Survey does not provide a very optimistic picture of the economy despite claims to the contrary by government officials. While the Survey has been cautious in calling out an impending crisis in the economy, it does raise questions on the sustainability of economic growth give the spectre of deflation looming large.<br /><br />But how serious is the deflationary spectre? Going by the analysis, it does appear real. And it is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth. Almost all indicators including gross domestic product, core gross value-added (excluding agriculture and government), the index of industrial production (IIP), credit, investment and capacity utilization point to a deceleration in economic activity. Not surprisingly, the Survey notes that the growth of 7% in the past two years is more of an exception. The Survey has already moderated its growth projections to the lower end of the 6.75-7.5% range predicted in the first volume.<br /><br />But it is not just the macro indicators which defy the GDP estimates. The evidence on jobs and the agricultural sector are also suggesting a serious problem with the economy. While employment estimates from available sources continue to suggest either a decline in jobs or at best sluggish growth with jobs continuing to elude a majority of the young entering the labour market, the decline in real wages in the last three years is also confirmation of a weak labour market. <br /><br />Please <a href="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html" title="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html" class="re" target="_blank">Livemint.com, 29 August, 2017, http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html</a><div class="clear"></div>
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The spectre of deflation -Himanshu

Published on Aug 31, 2017   Modified on Aug 31, 2017

-Livemint.com It is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth The second volume of the Economic Survey was presented on the last day of the monsoon session of Parliament on 11 August, preventing Parliament from holding a discussion on the state of the economy as outlined by the report. The second instalment, a departure from past practice, was necessitated by the shifting of the budget presentation to 1 February. But it was also necessary given the lack of available data on the economy, more so given the uncertainty surrounding the demonetization exercise of November-December. Since then, the spectre of demonetization seems to have faded but the uncertainty created by the goods and services tax (GST) is still looming on the economy. Both demonetization and GST have been shocks to the economy, the impact of which will take time to unravel in an economy already struggling with low investment, low credit, low exports and low demand. Given all these, the Economic Survey has been candid in its assessment of not just what happened in the last fiscal year but more in terms of what is likely to happen in the future. A quick reading of the assessment in the Survey does not provide a very optimistic picture of the economy despite claims to the contrary by government officials. While the Survey has been cautious in calling out an impending crisis in the economy, it does raise questions on the sustainability of economic growth give the spectre of deflation looming large. But how serious is the deflationary spectre? Going by the analysis, it does appear real. And it is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth. Almost all indicators including gross domestic product, core gross value-added (excluding agriculture and government), the index of industrial production (IIP), credit, investment and capacity utilization point to a deceleration in economic activity. Not surprisingly, the Survey notes that the growth of 7% in the past two years is more of an exception. The Survey has already moderated its growth projections to the lower end of the 6.75-7.5% range predicted in the first volume. But it is not just the macro indicators which defy the GDP estimates. The evidence on jobs and the agricultural sector are also suggesting a serious problem with the economy. While employment estimates from available sources continue to suggest either a decline in jobs or at best sluggish growth with jobs continuing to elude a majority of the young entering the labour market, the decline in real wages in the last three years is also confirmation of a weak labour market. Please click here to read more.

Livemint.com, 29 August, 2017, http://www.livemint.com/Opinion/aG1EogNnUrDkZovcUMrBwO/The-spectre-of-deflation.html

Tagged with: Rural Demand Effective Demand Deflation Inflation food prices

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