-The New Indian Express According to the Organisation for OECD, India’s potential gross domestic product is pegged at seven per cent, while other forecasts show Growth barely humming at five per cent. HYDERABAD: What is India’s lost economic activity due to the ongoing slowdown? It is difficult to determine, but according to one estimate, it could be as much as Rs 2.8 lakh crore. Often, economic Growth or decline is measured in percentages,...
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What a sharp rise in inflation rate amid spike in food prices means -Prabhat Patnaik
-Newsclick.in Even as the Growth rate of the Indian economy is slowing down, and the index of industrial production (IIP) is actually showing negative Growth for three consecutive months, August to October (over the corresponding months a year ago), the inflation rate in the economy has started accelerating. Significantly, the acceleration in inflation has been the sharpest precisely during these very months when the contraction in industrial output has been the...
More »Universal basic income can boost consumption instead of I-T cut: Arvind Subramanian -Gireesh Chandra Prasad
-Livemint.com * 'If you want to boost consumption, it has to be a direct benefits transfer or a universal basic income, not a personal income tax cut,' the former CEA said in New Delhi * Subramanian said that India has infused quite a bit of capital into stressed state-run banks and any further capital infusion should be linked to reforms New Delhi: A universal basic income, rather than a cut in the tax...
More »IMF may significantly downgrade India Growth forecast in January: Gita Gopinath
-PTI * While speaking at an event in Mumbai, the IMF chief economist also sounded doubtful about India achieving $5 trillion GDP target by FY25 * 'If you look at recent incoming data, we would be revising our numbers,' she said Mumbai: The International Monetary Fund is set to join other downbeat analysts and cut the Growth estimate for India "significantly", its India-born chief economist Gita Gopinath said on Tuesday. The Washington-based institution had...
More »India facing 'Great Slowdown', economy headed to ICU: Arvind Subramanian
-PTI * Subramanian had flagged the problem of debt accumulated by private corporates becoming NPA of banks back in December 2014 * At that time, he was CEA to the Narendra Modi government NEW DELHI: India is facing a "Great Slowdown" with its economy headed for intensive care unit primarily due to a "second wave" of the twin balance sheet crisis at banks, former Chief Economic Adviser Arvind Subramanian has said. Subramanian, who was...
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