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<p style="text-align:justify"><em>The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall</em></p>
<p style="text-align:justify">India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have been projected by a number of multilateral institutions and rating agencies including that for India. The 2020-21 real GDP growth for India is forecast in the range of (-) 5.8% (the Reserve Bank of India’s Survey of Professional Forecasters) to (-) 14.8% (Goldman Sachs). The Organisation for Economic Co-operation and Development (OECD) in its September 2020 Interim Economic Outlook has projected a contraction of (-) 10.2% in FY21 for India.</p>
<p style="text-align:justify">The annual projections also indicate a strong likelihood of even the nominal GDP growth showing a contraction for 2020-21. The latest data released by the Ministry of Statistics indicate a Consumer Price Index (CPI) inflation rate of 6.7% for August 2020. The average CPI inflation during the first five months of 2020-21 is estimated at 6.6%. Given the injection of periodic liquidity into the system and the inflation trends, the year as a whole may show a CPI inflation of close to 7%. Since deflator-based inflation tends to be lower than the CPI inflation, it may be about 5% or less. In fact, in the first quarter of 2020-21, the GDP-based deflator was only 1.8%. If we take the OECD’s real GDP growth projection at (-) 10.2% and a deflator-based inflation of about 5%, the implied contraction in nominal GDP is about (-) 5.0% for 2020-21.</p>
<p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/lead/growth-compulsions-fiscal-arithmetic/article32709726.ece?homepage=true">click here</a> to read more.</p>
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LATEST NEWS UPDATES | Growth compulsions, fiscal arithmetic -C Rangarajan and DK Srivastava </title>
<meta name="description" content="-The Hindu
The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have..."/>
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<meta property="og:description" content="-The Hindu
The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have..." />
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<a href="https://im4change.in/latest-news-updates/growth-compulsions-fiscal-arithmetic-c-rangarajan-and-dk-srivastava.html" target="_blank">Growth compulsions, fiscal arithmetic -C Rangarajan and DK Srivastava</a>
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<br><small>September 28, 2020</small>
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The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have been projected by a number...</p>
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<br><small>September 28, 2020</small>
<p style="padding-top: 6px;">-The Hindu
The incident occured at around 7.15 a.m. on Monday.
A tractor was set on fire at Delhi’s India Gate by a group of men protesting against the farm Bills on Monday morning.
Eish Singhal, DCP (New Delhi), said that around 15 to 20 persons gathered at...</p>
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<br><small>September 27, 2020</small>
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Lok Sabha has cleared three labour code Bills. What are the key changes, and why are some being seen as a cause for concern?
The Lok Sabha Tuesday cleared new versions of three labour codes — Industrial Relations Code Bill, 2020, Code on Social...</p>
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<br><small>September 27, 2020</small>
<p style="padding-top: 6px;">-Scroll.in
The systemic, structural reasons that precipitated their distress have been completely ignored.
The images of devastation faced by migrant workers in the aftermath of the Covid-19 lockdown imposed in March shook the conscience of the nation: the scale of the problem and the severity of the...</p>
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<br><small>September 27, 2020</small>
<p style="padding-top: 6px;">-The Indian Express
The idea of a Minimum Support Price for crops came first from a visiting US soil scientist and fertiliser expert
The institution of ‘mandis’ is as old as markets where wholesale trading in primary produce has been taking place since time immemorial.
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LATEST NEWS UPDATES | Growth compulsions, fiscal arithmetic -C Rangarajan and DK Srivastava </title>
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The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
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The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
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<a href="https://im4change.in/latest-news-updates/growth-compulsions-fiscal-arithmetic-c-rangarajan-and-dk-srivastava.html" target="_blank">Growth compulsions, fiscal arithmetic -C Rangarajan and DK Srivastava</a>
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<br><small>September 28, 2020</small>
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The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have been projected by a number...</p>
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<br><small>September 28, 2020</small>
<p style="padding-top: 6px;">-The Hindu
The incident occured at around 7.15 a.m. on Monday.
A tractor was set on fire at Delhi’s India Gate by a group of men protesting against the farm Bills on Monday morning.
Eish Singhal, DCP (New Delhi), said that around 15 to 20 persons gathered at...</p>
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<br><small>September 27, 2020</small>
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Lok Sabha has cleared three labour code Bills. What are the key changes, and why are some being seen as a cause for concern?
The Lok Sabha Tuesday cleared new versions of three labour codes — Industrial Relations Code Bill, 2020, Code on Social...</p>
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<br><small>September 27, 2020</small>
<p style="padding-top: 6px;">-Scroll.in
The systemic, structural reasons that precipitated their distress have been completely ignored.
The images of devastation faced by migrant workers in the aftermath of the Covid-19 lockdown imposed in March shook the conscience of the nation: the scale of the problem and the severity of the...</p>
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<br><small>September 27, 2020</small>
<p style="padding-top: 6px;">-The Indian Express
The idea of a Minimum Support Price for crops came first from a visiting US soil scientist and fertiliser expert
The institution of ‘mandis’ is as old as markets where wholesale trading in primary produce has been taking place since time immemorial.
APMCs or Agricultural...</p>
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LATEST NEWS UPDATES | Growth compulsions, fiscal arithmetic -C Rangarajan and DK Srivastava </title>
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The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have..."/>
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The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
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<a href="https://im4change.in/latest-news-updates/growth-compulsions-fiscal-arithmetic-c-rangarajan-and-dk-srivastava.html" target="_blank">Growth compulsions, fiscal arithmetic -C Rangarajan and DK Srivastava</a>
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<br><small>September 28, 2020</small>
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The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have been projected by a number...</p>
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<br><small>September 28, 2020</small>
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The incident occured at around 7.15 a.m. on Monday.
A tractor was set on fire at Delhi’s India Gate by a group of men protesting against the farm Bills on Monday morning.
Eish Singhal, DCP (New Delhi), said that around 15 to 20 persons gathered at...</p>
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<br><small>September 27, 2020</small>
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The Lok Sabha Tuesday cleared new versions of three labour codes — Industrial Relations Code Bill, 2020, Code on Social...</p>
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<br><small>September 27, 2020</small>
<p style="padding-top: 6px;">-Scroll.in
The systemic, structural reasons that precipitated their distress have been completely ignored.
The images of devastation faced by migrant workers in the aftermath of the Covid-19 lockdown imposed in March shook the conscience of the nation: the scale of the problem and the severity of the...</p>
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<br><small>September 27, 2020</small>
<p style="padding-top: 6px;">-The Indian Express
The idea of a Minimum Support Price for crops came first from a visiting US soil scientist and fertiliser expert
The institution of ‘mandis’ is as old as markets where wholesale trading in primary produce has been taking place since time immemorial.
APMCs or Agricultural...</p>
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-The Hindu
The economic situation warrants enhanced government expenditure; the policy challenge is to minimise the growth fall
India’s growth in the first quarter of 2020-21 at (-) 23.9% showed one of the highest contractions globally. Global growth prospects for 2020 have been projected by a number...
-The Hindu
The incident occured at around 7.15 a.m. on Monday.
A tractor was set on fire at Delhi’s India Gate by a group of men protesting against the farm Bills on Monday morning.
Eish Singhal, DCP (New Delhi), said that around 15 to 20 persons gathered at...
-The Indian Express
Lok Sabha has cleared three labour code Bills. What are the key changes, and why are some being seen as a cause for concern?
The Lok Sabha Tuesday cleared new versions of three labour codes — Industrial Relations Code Bill, 2020, Code on Social...
-Scroll.in
The systemic, structural reasons that precipitated their distress have been completely ignored.
The images of devastation faced by migrant workers in the aftermath of the Covid-19 lockdown imposed in March shook the conscience of the nation: the scale of the problem and the severity of the...
-The Indian Express
The idea of a Minimum Support Price for crops came first from a visiting US soil scientist and fertiliser expert
The institution of ‘mandis’ is as old as markets where wholesale trading in primary produce has been taking place since time immemorial.
APMCs or Agricultural...
