-Business Standard GVA growth at 2-year low of 5.6%; Farming only bright spot India’s economic growth fell to 6.1 per cent in the fourth quarter (Q4) of 2016-17 (FY17), primarily because of demonetisation adversely affecting economic activity. This was at least a four-quarter low. The sectors worst affected were construction and financial services. Without indirect taxes, growth figures would be more dismal. Gross value added (GVA), the difference between gross domestic product...
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Farm provides growth impetus
-The Telegraph New Delhi: A robust farm growth of 5.2 per cent in the March quarter pushed GDP growth up to 7.1 per cent. However, growth in the sector was lower than the previous quarter's expansion of 6.9 per cent. Farm growth for the full fiscal zoomed to 4.9 per cent because of good rainfall and record food-grain production compared with a near flat 0.7 per cent expansion in 2015-16. "The third...
More »Sorting out farmers' incomes -Ishan Bakshi
-Business Standard Reportedly, Bibek Debroy suggested to tax agricultural income, which led to a public outcry Over the past few days, India’s agriculture has received much public attention for two apparently contradictory concerns. The first issue was the possibility of taxing agricultural income. NITI Aayog member Bibek Debroy reportedly suggested this move for widening the tax base and pruning exemptions. However, this led to a massive public outcry and within a few...
More »Farm Policy: Dis-ease of doing the business of agriculture -Pravesh Sharma
-The Indian Express As the Modi government completes three years, here are three potentially game-changing steps it could now take to harness the sector’s unrealised potential Amidst the predictable tidal wave of opinion pieces to mark the Narendra Modi government’s third anniversary, one little event last week squeezed its way into the inside pages of a few newspapers. This was a call for a “farm strike” in Maharashtra from June 1,...
More »The hazards of farm loan waivers -Tanika Chakraborty and Aarti Gupta
-Livemint.com Research provides evidence that a blanket farm loan waiver scheme is detrimental to the development of credit markets The Bharatiya Janata Party (BJP) won the 2017 state elections in Uttar Pradesh with a thumping majority and once again, the state government has a debt-waiver package ready to be implemented. The BJP’s electoral manifesto had committed to write off loans of small and marginal farmers, which would approximately cost the government Rs37,000...
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