-The Hindu RBI told banks that they could shift the repayment schedule for loans and the residual tenor across the board by three months after the moratorium period. Banks which give borrowers a three-month moratorium on repayment of loans will continue to charge interest on the outstanding portion of the loans during this window period, the Reserve Bank of India clarified on Friday evening. The 3-month moratorium on repayment of loans - including...
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Economy infected: Task force has a prescription, concerns mount over delay -P Vaidyanathan Iyer
-The Indian Express Over the last one month, the government pulled out all stops to contain the spread of the Covid-19. During this period, economic ministries including Commerce and Industry, Heavy Industries, Road Transport, Civil Aviation, Pharmaceuticals and Consumer Affairs met and heard stakeholders. With Covid-19 wreaking havoc in Indian financial markets and global research and rating firms marking down GDP Growth estimates by up to 100 basis points, Prime Minister Narendra...
More »Govt shouldn’t junk unpleasant data -Biswajit Mandal & Saswati Chaudhuri
-The Hindu Business Line Suppressing data that point to low Growth, rising joblessness and poverty impedes effective policymaking in a crisis Finance Minister Nirmala Sitharaman, in her Budget speech, said “data is the new oil” and stressed on the credibility of data to combat the difficulties in real-time monitoring of the Indian economy. She even proposed building data centre parks throughout the country so that skilful incorporation of data in every step...
More »India adrift, optimism hard to sustain -Jean Drèze and Amartya Sen
-The Telegraph Prospects of the future damaged by failing development policy to collapsing democracy The recent estimate of GDP Growth for the third quarter of 2019-20, at around 4.7 per cent, has prompted a predictable sense of gloom. However, even the 4.7 per cent estimate is deceptive, since in per-capita terms, the corresponding figure would be just above 3 per cent. This, sadly, is no more than half the Growth rate of...
More »Problematic revisions: We need fewer, quicker economic Growth estimates -AK Bhattacharya
-Business Standard The CSO releases as many as 6 estimates of India's annual economic output Growth; believe it or not, these estimates for the same year's economic output are released over a period of three years! When the Central Statistics Office (CSO) declared India’s gross domestic product (GDP) Growth figure for 2016-17 on January 6, 2017, economic policy makers in the Narendra Modi government were disappointed. The GDP Growth figure was only...
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