-The Indian Express Current economic contraction is different from previous ones. Governments should borrow and spend India has never experienced negative economic growth since 1979-80, and before that in 1972-73, 1965-66 and 1957-58. All these were drought years with 1957-58 also registering a significant balance of payments (BOP) deterioration and 1979-80 witnessing the second global oil shock following the Iranian Revolution. The real GDP decline of 5-10 per cent that various agencies are...
More »SEARCH RESULT
Dr. Himanshu. associate professor at JNU and a visiting fellow at Centre de Sciences Humaines, interviewed by Shreehari Paliath (IndiaSpend.com)
-IndiaSpend.com Bengaluru: As India deals with growing numbers of COVID-19 cases and the economic ramifications of the resultant lockdowns, the Bharatiya Janata Party-led government has made a slew of announcements and promulgated ordinances to revive the economy, including the agriculture sector. It brought in the Farmers’ Produce Trade and Commerce (Promotion & Facilitation) Ordinance 2020, Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance 2020, and amended the...
More »How China Reduced the Urban-Rural Economic Chasm – and How India Can Do it Too -Mahesh Uniyal
-TheWire.in Unlike China which supported productivity-enhancing R&D investments, India’s focus has been on politically-driven subsidies that mainly benefit large farmers. We saw the trailer two years ago. TV news visuals of the plight of thousands of rural poor marching to Mumbai shocked the relatively affluent residents of India’s financial capital. The March 2018 Maharashtra farmers’ march and now the nationwide COVID-19 lockdown-triggered migrant exodus has exposed the stark duality of India – an...
More »Opening India’s Food Economy to Demands of Imperialism -Prabhat Patnaik
-Newsclick.in Every step in the direction of opening agriculture to global trade – as announced in the three ordinances by the Modi government – is a step towards reducing domestic food availability. The tropical region can grow a variety of crops which either cannot be grown at all, or for much of the year, in the cold temperate regions of the world where metropolitan capitalism is located. These include beverages, fibres, vegetables...
More »GDP Growth Rate Slump: Another Blow to Modi Govt's Economic Growth Story -AK Bhattacharya
-TheWire.in/ Business Standard The rate of growth for India’s GDP has just about halved in just three years. New Delhi: The Narendra Modi government’s economic growth story has suffered yet another huge knock. Along with that has come the official admission that the government’s fiscal deficit last year was as large as 4.6% of gross domestic product (GDP), much wider than the 3.8%provided in the Budget presented in February earlier this year. On...
More »