-The Hindu The pursuit of full employment of labour cannot primarily rely on domestic private investment, much less FDI. Only public investment will steady us in the long run. We are increasingly told that the inflow of capital — particularly the foreign direct investment (FDI) variety — increases employment levels and contributes to economic growth. In a rare interview given to The Wall Street Journal in May, Prime Minister Narendra Modi reinforced...
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The gap between rich and poor States -Praveen Chakravarty & Vivek Dehejia
-The Hindu India is the only large country that is experiencing an economic divergence among its States. “Real freedom lies in economic freedom,” said Tamil Nadu Chief Minister Jayalalithaa, in her Independence Day speech this year. The subtle reference here was to the Goods and Services Tax (GST) Bill, which her party, the All India Anna Dravida Munnetra Kazhagam, did not endorse, the only political party to do so in Parliament, on...
More »Realising energy sector targets -Kirit S Parikh
-The Hindu A reasonable aim of 1,500 MT of coal production by 2022 and a calibrated renewable energy push should enable reaching ambitious targets. Prime Minister Narendra Modi’s style is to set ambitious targets with impossible-looking deadlines. Perhaps he is inspired by a Gujarati poet who said, “Nishaan chuk maaf, nahi neechu nishaan” (missing the target can be forgiven, setting a low target cannot). This challenges his colleagues and staff to accomplish...
More »Priyanka Kishore, Lead Asia Economist at Oxford Economics, speaks to Sarika Malhotra (Business Today)
-Business Today Priyanka Kishore, Lead Asia Economist at Oxford Economics tells Business Today why India's GDP may well not be 7 per cent. Excerpts from an interview. * What were the reasons that prompted you to relook at India's growth numbers? India announced a revamped GDP series in early 2015, based on the requirements of the 2008 System of National Accounts (SNA). The new method made substantial changes to both the estimation and...
More »Keep a watch on food inflation
-The Hindu The latest inflation readings based on the Wholesale Price Index and the Consumer Price Index are a cause for concern. While the annual gain in wholesale prices hit a 23-month high of 3.55 per cent in July, retail inflation quickened past the Centre’s new Monetary Policy Framework’s upper limit for tolerance to 6.07 per cent. Food costs — a key component in both indices — were the main culprit....
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