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<p style="text-align:justify"><em>The slump in the GDP and the pain ahead</em></p>
<p style="text-align:justify">The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the world’s steepest for India’s lockdown was the most stringent and the accompanying fiscal policy response the weakest. But the quarter per cent slump did surprise most analysts who have since rushed to savagely cut India’s annual growth forecast; on average, these have doubled down into the -10 per cent range, a possibility this author anticipated two months ago. Growth probably contracted more severely, although early estimates do not fully capture India’s large informal or unorganized segment whose performance is initially based upon the listed companies’; the -36.2 per cent decline in indirect tax revenues indicates a more severe decline. As we are now nearing the end of next quarter end, it’s useful to combine these numbers with newer information to get a grip on the distributive effects and the road ahead. </p>
<p style="text-align:justify">Let’s first examine the April-June performance. Production contracted in near-similar magnitudes (40-50 per cent) as restrictions applied everywhere except agriculture where harvesting and procurement continued and the virus hadn’t then spread; construction and services saw somewhat larger declines. A bolt out of the blue is the -10.3 per cent decline in public GDP (public administration, defence and other services) where positive support was expected from sustained government expenditure. This has trained focus upon ‘other services’ (56 per cent share), which include education, health, recreation and numerous personal services; it is a revelation that the plunge here was too steep for the increase in public spending to counter.</p>
<p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/the-slump-in-the-gdp-and-the-pain-ahead/cid/1791998?fbclid=IwAR1kSHHX2m-H37NNB838hqTCsutNl9ghkUlxgG0pAlwvZ2KBUp-Zk_dRd4Y">click here</a> to read more.</p>
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LATEST NEWS UPDATES | Tumbling down -Renu Kohli </title>
<meta name="description" content="-The Telegraph
The slump in the GDP and the pain ahead
The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the..."/>
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<meta property="og:description" content="-The Telegraph
The slump in the GDP and the pain ahead
The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the..." />
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<br><small>September 15, 2020</small>
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The slump in the GDP and the pain ahead
The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the world’s steepest for India’s lockdown...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-Down to Earth
Sugar prices had remained depressed, which had affected the liquidity of sugar mills, a govt reply said
While the new sugar-crushing season is set to begin from October, the outstanding payment dues to sugarcane farmers across the country stand at Rs 15,683 crore as...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-NDTV
Parliament Session: The ministry, however, admitted that more than 1 crore migrants made their way back to their home states from various corners of the country.
New Delhi: There is no data on migrant deaths so the "question does not arise" of compensation, the Union labour...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-The Hindu
No workers were registered in Delhi, Patna; No data on Shramik Special deaths, says responses to RTI requests.
In the last five years, there have been no inter-State migrant workers registered in the Delhi, Dehradun or Patna regions. Nationwide, there were less than 34,000 workers...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-National Institute of Advanced Studies (NIAS), Bengaluru, Working Paper: NIAS/NSE/EEP/U/WP/18/2020
The paper entitled Impact of Covid-19 Pandemic on the Indian Economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar provides an analysis of the economic impact of the Covid-19 pandemic in India. First, using secondary...</p>
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The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the..."/>
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<br><small>September 15, 2020</small>
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The slump in the GDP and the pain ahead
The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the world’s steepest for India’s lockdown...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-Down to Earth
Sugar prices had remained depressed, which had affected the liquidity of sugar mills, a govt reply said
While the new sugar-crushing season is set to begin from October, the outstanding payment dues to sugarcane farmers across the country stand at Rs 15,683 crore as...</p>
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<p style="padding-top: 6px;">-NDTV
Parliament Session: The ministry, however, admitted that more than 1 crore migrants made their way back to their home states from various corners of the country.
New Delhi: There is no data on migrant deaths so the "question does not arise" of compensation, the Union labour...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-The Hindu
No workers were registered in Delhi, Patna; No data on Shramik Special deaths, says responses to RTI requests.
In the last five years, there have been no inter-State migrant workers registered in the Delhi, Dehradun or Patna regions. Nationwide, there were less than 34,000 workers...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-National Institute of Advanced Studies (NIAS), Bengaluru, Working Paper: NIAS/NSE/EEP/U/WP/18/2020
The paper entitled Impact of Covid-19 Pandemic on the Indian Economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar provides an analysis of the economic impact of the Covid-19 pandemic in India. First, using secondary...</p>
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The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the..."/>
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<br><small>September 15, 2020</small>
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The slump in the GDP and the pain ahead
The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the world’s steepest for India’s lockdown...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-Down to Earth
Sugar prices had remained depressed, which had affected the liquidity of sugar mills, a govt reply said
While the new sugar-crushing season is set to begin from October, the outstanding payment dues to sugarcane farmers across the country stand at Rs 15,683 crore as...</p>
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Parliament Session: The ministry, however, admitted that more than 1 crore migrants made their way back to their home states from various corners of the country.
New Delhi: There is no data on migrant deaths so the "question does not arise" of compensation, the Union labour...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-The Hindu
No workers were registered in Delhi, Patna; No data on Shramik Special deaths, says responses to RTI requests.
In the last five years, there have been no inter-State migrant workers registered in the Delhi, Dehradun or Patna regions. Nationwide, there were less than 34,000 workers...</p>
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<br><small>September 15, 2020</small>
<p style="padding-top: 6px;">-National Institute of Advanced Studies (NIAS), Bengaluru, Working Paper: NIAS/NSE/EEP/U/WP/18/2020
The paper entitled Impact of Covid-19 Pandemic on the Indian Economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar provides an analysis of the economic impact of the Covid-19 pandemic in India. First, using secondary...</p>
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-The Telegraph
The slump in the GDP and the pain ahead
The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the world’s steepest for India’s lockdown...
-Down to Earth
Sugar prices had remained depressed, which had affected the liquidity of sugar mills, a govt reply said
While the new sugar-crushing season is set to begin from October, the outstanding payment dues to sugarcane farmers across the country stand at Rs 15,683 crore as...
-NDTV
Parliament Session: The ministry, however, admitted that more than 1 crore migrants made their way back to their home states from various corners of the country.
New Delhi: There is no data on migrant deaths so the "question does not arise" of compensation, the Union labour...
-The Hindu
No workers were registered in Delhi, Patna; No data on Shramik Special deaths, says responses to RTI requests.
In the last five years, there have been no inter-State migrant workers registered in the Delhi, Dehradun or Patna regions. Nationwide, there were less than 34,000 workers...
-National Institute of Advanced Studies (NIAS), Bengaluru, Working Paper: NIAS/NSE/EEP/U/WP/18/2020
The paper entitled Impact of Covid-19 Pandemic on the Indian Economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar provides an analysis of the economic impact of the Covid-19 pandemic in India. First, using secondary...
