-The Indian Express States have spent less in this year, may focus on fiscal consolidation in the year to come. This belies hopes of a public-spending-led recovery. Over the past few weeks, several state governments have presented their budgets for the financial year 2021-22. These budgets shed light not only on how state finances have fared during the current year (2020-21) but equally critically, detail the expenditure stance of these governments during...
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A disconnect that shows the real state of the country’s economy -Himanshu
-Livemint.com * Disaggregated data contradicts the rosy picture that national accounts paint of our performance * It’s premature to conclude that a recovery is underway, as our GDP rise in 2020-21’s third quarter was on a very low base. Also, other data sets reveal that distress remains widespread. Estimates of growth in the third quarter of 2020-21 along with advance estimates of the full year were released last month by India’s statistics ministry....
More »Indian economy to be hardest hit by Covid-19 despite recovery, predicts new OECD report -Shoaib Daniyal
-Scroll.in The high growth in 2021 cannot undo the damage caused by the country’s harsh lockdown. India will be among the large economies most severely hit by the Covid-19 pandemic and the lockdown restrictions to combat it, a new report by the Organisation for Economic Co-operation and Development predicts. Data published as part of the OECD Economic Outlook, Interim Report March 2021 on Tuesday forecasts that the real GDP value of India’s economy...
More »The Survey as policy with ideological overtones -MA Oommen
-The Hindu To say that growth and inequality converge in terms of their effects on socio-economic outcomes is outrageous The Economic Survey 2021 (https://bit.ly/2OfqfVQ) does not seem to be a policy document derived straight from the empirical data of the economy or the social compulsions embedded in it. On the contrary, the Survey rings with policy postulates based on strong ideological overtones. Of interest would be Chapter 4, captioned ‘Inequality and Growth:...
More »Declining Wages, No Government Aid: Daily Wage Workers Are Stuck in a Deep Crisis -Deepanshu Mohan, Jignesh Mistry, Advaita Singh, Snehal Sreedhar, Sunanda Mishra, Shivani Agarwal, Vanshika Mittal and Ada Nagar
-TheWire.in A survey of mazdoor mandis in Surat, Lucknow and Pune shows that even many months after the lockdown ended, workers are struggling to make ends meet. “Since the time of COVID-19 lockdown, there has been a severe crisis of employment opportunities in local labour markets. Getting work for even two days a week is difficult for us. Daily wages too, for any work possible, have dipped by half,” says Rajesh Singh,...
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