-PTI/ The Hindu Business Line Time for bureaucracy to take meaningful action, says former RBI governor Terming the 23.9 per cent fall in economic growth in June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding unfortunately, after an initial burst of activity, it seems to have retreated...
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Role of collective organisations during economic crises -Indranil De, Mubashshir Iqbal and Rooba Hasan
-The Hindu Business Line The government, market and collectives should have worked in tandem to develop resilience of economic institutions during the slowdown in India The sharp downfall in the economic growth rate could be attributable to a lack of resilience of Indian economy. Only fiscal and monetary policies may not halt the downfall of the economy. Collective organisations, including NGOs, have played an important role in consumption and income-smoothing. The downfall...
More »A guide to flattening the curve of economic chaos -Jayati Ghosh
-The Hindu Well-thought-out policies can reverse the results of incompetence; the onus is on the Centre to spend now Now it is official: India has managed to become the global leader in the number of new daily cases of COVID-19 and the worst performing of all major economies during the pandemic so far. How did we manage this double feat? Not through ‘acts of god’, but because of the incompetence and apathy...
More »India’s GDP growth contracts 23.9%: What is the economics behind the math? -Udit Misra and Nushaiba Iqbal
-The Indian Express India GDP Q1 Data: Demand from individual citizens and private businesses plummeted in Q1, increase in government’s demand made up for just 6% of this fall Although most people expected India’s GDP to show substantial contraction when the Ministry of Statistics and Programme Implementation (MoSPI) released the data for the first quarter (April, May, June) of the current financial year on Monday, the broad consensus was that the decline...
More »Economy: steepest GDP decline on record -R Suryamurthy
-The Telegraph The last time that India faced a full-year contraction in its real GDP was in 1980 The Indian economy shrank by 23.9 per cent in the first quarter ended June 30, signalling that the road to recovery would be more arduous than most economists have projected. It marks the steepest decline since the National Statistical Office (NSO) started quarterly measurement of gross domestic product (GDP) in 1996. The slide in real GDP...
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