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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-trace').style.display = (document.getElementById('cakeErr67f06604857b1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f06604857b1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-code').style.display = (document.getElementById('cakeErr67f06604857b1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-context').style.display = (document.getElementById('cakeErr67f06604857b1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f06604857b1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>
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Slashing public expenditure amid a recession is a recipe for serious economic disaster
The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided..."/>
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<strong>True fiscal responsibility -Pulapre Balakrishnan</strong></h1>
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<p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Slashing public expenditure amid a recession is a recipe for serious economic disaster</em></p><p style="text-align:justify">The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government’s economists.</p><p style="text-align:justify">To have assumed a V-shaped recovery following the lifting of the Centre’s lockdown would not have been wrong if output were determined entirely from the supply side under normal circumstances. Following this reasoning, output would remain depressed so long as the lockdown prevented production from taking place, but would spring back once these restrictions are removed. However, after they are lifted, we would return to a world in which output is determined by demand. This now introduces the possibility that output may not spring back, as investment may have actually declined post the lockdown. It would happen if depressed output causes private investors to hold their plans for the future and contract expenditure. A quarter is, after all, a very short period of time, and impulses in one may take effect only in the next.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-trace').style.display = (document.getElementById('cakeErr67f06604857b1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f06604857b1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-code').style.display = (document.getElementById('cakeErr67f06604857b1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-context').style.display = (document.getElementById('cakeErr67f06604857b1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f06604857b1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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<p style="text-align:justify"><em>Slashing public expenditure amid a recession is a recipe for serious economic disaster</em></p>
<p style="text-align:justify">The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government&rsquo;s economists.</p>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>
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Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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
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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</pre></div></pre>latest-news-updates/true-fiscal-responsibility-pulapre-balakrishnan.html"/>
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<meta name="description" content="-The Hindu
Slashing public expenditure amid a recession is a recipe for serious economic disaster
The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided..."/>
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<strong>True fiscal responsibility -Pulapre Balakrishnan</strong></h1>
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<p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Slashing public expenditure amid a recession is a recipe for serious economic disaster</em></p><p style="text-align:justify">The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government’s economists.</p><p style="text-align:justify">To have assumed a V-shaped recovery following the lifting of the Centre’s lockdown would not have been wrong if output were determined entirely from the supply side under normal circumstances. Following this reasoning, output would remain depressed so long as the lockdown prevented production from taking place, but would spring back once these restrictions are removed. However, after they are lifted, we would return to a world in which output is determined by demand. This now introduces the possibility that output may not spring back, as investment may have actually declined post the lockdown. It would happen if depressed output causes private investors to hold their plans for the future and contract expenditure. A quarter is, after all, a very short period of time, and impulses in one may take effect only in the next.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-trace').style.display = (document.getElementById('cakeErr67f06604857b1-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f06604857b1-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-code').style.display = (document.getElementById('cakeErr67f06604857b1-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f06604857b1-context').style.display = (document.getElementById('cakeErr67f06604857b1-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f06604857b1-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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<p style="text-align:justify"><em>Slashing public expenditure amid a recession is a recipe for serious economic disaster</em></p>
<p style="text-align:justify">The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government&rsquo;s economists.</p>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>
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<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>
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Slashing public expenditure amid a recession is a recipe for serious economic disaster
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<strong>True fiscal responsibility -Pulapre Balakrishnan</strong></h1>
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<p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Slashing public expenditure amid a recession is a recipe for serious economic disaster</em></p><p style="text-align:justify">The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government’s economists.</p><p style="text-align:justify">To have assumed a V-shaped recovery following the lifting of the Centre’s lockdown would not have been wrong if output were determined entirely from the supply side under normal circumstances. Following this reasoning, output would remain depressed so long as the lockdown prevented production from taking place, but would spring back once these restrictions are removed. However, after they are lifted, we would return to a world in which output is determined by demand. This now introduces the possibility that output may not spring back, as investment may have actually declined post the lockdown. It would happen if depressed output causes private investors to hold their plans for the future and contract expenditure. A quarter is, after all, a very short period of time, and impulses in one may take effect only in the next.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p> </font>
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<p style="text-align:justify"><em>Slashing public expenditure amid a recession is a recipe for serious economic disaster</em></p>
<p style="text-align:justify">The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government’s economists.</p>
<p style="text-align:justify">To have assumed a V-shaped recovery following the lifting of the Centre’s lockdown would not have been wrong if output were determined entirely from the supply side under normal circumstances. Following this reasoning, output would remain depressed so long as the lockdown prevented production from taking place, but would spring back once these restrictions are removed. However, after they are lifted, we would return to a world in which output is determined by demand. This now introduces the possibility that output may not spring back, as investment may have actually declined post the lockdown. It would happen if depressed output causes private investors to hold their plans for the future and contract expenditure. A quarter is, after all, a very short period of time, and impulses in one may take effect only in the next.</p>
<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>
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Slashing public expenditure amid a recession is a recipe for serious economic disaster
The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided...'
$disp = '<p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Slashing public expenditure amid a recession is a recipe for serious economic disaster</em></p><p style="text-align:justify">The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government’s economists.</p><p style="text-align:justify">To have assumed a V-shaped recovery following the lifting of the Centre’s lockdown would not have been wrong if output were determined entirely from the supply side under normal circumstances. Following this reasoning, output would remain depressed so long as the lockdown prevented production from taking place, but would spring back once these restrictions are removed. However, after they are lifted, we would return to a world in which output is determined by demand. This now introduces the possibility that output may not spring back, as investment may have actually declined post the lockdown. It would happen if depressed output causes private investors to hold their plans for the future and contract expenditure. A quarter is, after all, a very short period of time, and impulses in one may take effect only in the next.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/true-fiscal-responsibility/article33265567.ece?homepage=true">click here</a> to read more.</p>'
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Slashing public expenditure amid a recession is a recipe for serious economic disaster
The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what happened. The GDP contracted by 23.9% in that quarter (compared to the same quarter of the previous year). However, there was no particular reason for assuming that we would see a contraction in the second quarter as well, but that is what we now find. Though the contraction has been less than both what it was in the previous quarter and what several sources had forecast, at 7.5%, it is still significant. Thus far, we have not had the V-shaped recovery predicted by the government’s economists.
To have assumed a V-shaped recovery following the lifting of the Centre’s lockdown would not have been wrong if output were determined entirely from the supply side under normal circumstances. Following this reasoning, output would remain depressed so long as the lockdown prevented production from taking place, but would spring back once these restrictions are removed. However, after they are lifted, we would return to a world in which output is determined by demand. This now introduces the possibility that output may not spring back, as investment may have actually declined post the lockdown. It would happen if depressed output causes private investors to hold their plans for the future and contract expenditure. A quarter is, after all, a very short period of time, and impulses in one may take effect only in the next.
