-The Times of India NEW DELHI: The parliamentary standing committee on finance failed on Tuesday to adopt two reports critical of the government — on demonetisation and on the revised formula for calculating growth — in the face of vocal opposition by BJP and some non-NDA parties. The report on demonetisation, circulated in the morning ahead of the committee meeting, said the measure had cost the economy 1% of GDP. The other...
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'Input prices have pulled down farm income' -TV Jayan
-The Hindu Business Line New Delhi: A substantial increase in input costs of materials has led to a decline in crop income over the years. This has resulted in the purchasing power of farmers not improving even though there was an increase in farm output, an official report has said. “By and large, the per hectare real value of output increased for most crops during the period 2004-05 to 2013-14, but the...
More »That sinking feeling -MV Rajeev Gowda & Salman Soz
-The Hindu In contrast to its pronouncements, the government’s own data suggest the economy is in a deep hole Prime Minister Narendra Modi, in his Independence Day address, spoke triumphantly about how demonetisation drove ?3 lakh crore of unaccounted money into the banking system. The Reserve Bank of India (RBI) is still counting old notes, and unaccounted money cases are ongoing. Thus, this number is at best a guesstimate, and cannot be...
More »Economy Plunging Headlong Into Recession -Prabhat Patnaik
-TheCitizen.in NEW DELHI: Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy. The growth rate of real Gross Value Added (GVA which is the appropriate thing to look at, since the GDP measure includes net indirect taxes and hence does not truly reflect output trends), was 6.6 percent for 2016-17 as a whole,...
More »Economy red flags go up -Jayanta Roy Chowdhury and R Suryamurthy
-The Telegraph New Delhi: India's growth juggernaut has started to lose steam. In the mid-year Economic Survey, chief economic adviser Arvind Subramanian flagged big risks to economic growth and fiscal targets while asserting that the country had entered a "new phase of relatively low, possibly very low, inflation". In the first volume of the survey published in January, the government had forecast GDP growth in the range of 6.75 to 7.5 per cent...
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