-CaravanMagazine.in In the budget unveiled in July, the finance minister Nirmala Sitharaman ambitiously claimed that India’s economy would hit $5 trillion by 2025. In the weeks that followed, the Central Statistics Office revealed that the gross domestic product growth rate for the April–June quarter fell to a six-year low of five percent; the Reserve Bank of India cleared a surplus transfer of Rs 1.76 lakh crore to the union government; and...
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Merchandise exports affected by global slowdown but not export of services
Is it the case that the global economic downturn instead of shrinking domestic demand has affected our economy more? If the aforesaid statement is true, then ideally the trade related data should indicate improvement in our imports and deceleration in the country's exports. However, that is not the case and we get a mixed picture. A press release by the Ministry of Commerce & Industry dated 13th September, 2019 shows...
More »Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
More »A wider deficit is unavoidable to strengthen demand -Ajit Ranade
-Livemint.com Thankfully, India is enjoying a demographic dividend that gives it greater leeway for deficit-financing The dominant consensus on the slowdown in India is that we have a demand problem. Lack of aggregate demand is a phrase that goes back to John Maynard Keynes. He is a ghost who reappears from time to time, however much one tries to bury him. Regardless of whether you are a Keynes devotee or not, his...
More »Getting the economy to turn around -Ajay Shankar
-The Hindu Business Line Lowering the exchange rate to boost exports, a grant-based stimulus for auto sector and reviving stalled power projects will help The slowdown in the Indian economy is far steeper than what most observers had expected. The government has announced a set of measures for revival. It has also indicated that more are in the pipeline. For this to have become necessary within weeks of the presentation of the...
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