-Hindustan Times Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. Let’s assume it takes a tonne of steel to build half a kilometre of road. Let’s also assume steel costs ₹1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year,...
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NSO estimates FY22 GDP growth at 9.2%
-The Hindu COVID-19 could impact final numbers, says the National Statistical Office. India’s gross domestic product (GDP) is expected to grow by 9.2% in the current financial year following last fiscal’s 7.3% contraction, the National Statistical Office (NSO) said in its first advance estimates of economic output released on Friday, amid concerns over the likely impact of a third wave of the COVID pandemic. The NSO, however, made clear that these were “early...
More »As Uttar Pradesh Heads to Polls, How Does the Yogi Govt's Economic Performance Hold Up? -Santosh Mehrotra
-TheWire.in Employment trends are dismal under the 'double engine government' of Modi and Adityanath. Several claims made in ads do not appear to hold up. Uttar Pradesh’s per capita income was barely half (Rs 41,023) of India’s average (Rs 86,659) in 2019-20. The per capita income of UP (at 2011-12 prices) is ranked 32 out of 36 states and Union Territories. That the state’s economy has been one of the poorly performing...
More »GDP Numbers: What’s Wrong With How India Measures Manufacturing Output Data -Kaushal Shroff
-TheWire.in A claim of an 8.4% real GDP growth rate has little relevance even as rural India battles plummeting wage levels, depleted incomes and widespread unemployment. With the release of the GDP figures for the quarter ending September, the government machinery has been in full swing advancing the narrative that economic growth is indeed back on track. However, sorely missing from these narratives is the inconvenient factoid on the currently dismal state of...
More »India faces 'extreme pain', aspirations dashed: economist Abhijit Banerjee
-PTI/ Business Standard The Nobel laureate was sharing his observations from a recent visit to West Bengal. People in India are in "extreme pain" and the economy is still below the 2019 levels, with "small aspirations" of people becoming even smaller now, Nobel laureate economist Abhijit Banerjee has said. He was virtually addressing students of the Ahmedabad University in Gujarat on Saturday night from the US during the varsity's 11th annual convocation which...
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