-Business Standard Pending labour wages by the end of 2016-17 could be around Rs 3,000-4,000 crore For the second year running, the Centre is likely to approve a labour budget of around 2.2 billion person-days under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). The labour budget, for 2017-18, could be enhanced as well, if more demand is generated owing to drought or insufficient rainfall in any part of the country, senior...
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Demonetisation and the GDP: knock-out punch or mild tap? -Aarati Krishnan
-The Hindu The CSO has been consistent with its methods, allowing little room for suspicion of window dressing. Did demonetisation deal a knock-out punch to the Indian economy? Or was it just a mild tap from which it is already recovering? This debate should have been settled with the latest second Advance Estimates from the Central Statistics Office (CSO) which peg FY17 GDP growth at 7.1%. But commentators who believe that the economy...
More »Politically opportune data -Jayati Ghosh
-The Indian Express GDP estimates are advance figures, but by the time they are revised only staid economists will be interested in them Unless we simply dreamt it, demonetisation delivered a massive shock to the economy in early November, which continued well into December because of slow pace remonetisation. The ensuing liquidity crunch affected most informal economic activity and some formal business, and economists generally agreed that declines in demand and disruption...
More »Horticulture output likely to exceed foodgrain production in 2016-17 despite meagre growth
For the fifth year in a row, horticulture production is expected to surpass foodgrain production. However, as compared to the crop years 2014-15 and 2015-16, when drought was faced by most Indian states, horticulture production this year is predicted to rise by a meagre amount. As compared to 2014-15 and 2015-16, horticulture production this year is expected to rise by 2.2 percent and 0.4 percent, respectively. However, as compared to...
More »Consumption mystery could be traced to piling up of inventories -Aanchal Magazine
-The Indian Express As per the methodology, since no direct data of expenditure is used, most of the GDP data is calculated based on output data The answer to the puzzling rise in Private Final Consumption Expenditure (PFCE) in the second advance estimate of GDP for 2016-17 despite the evident cash squeeze due to demonetisation may very well lie in the methodology used for calculating the new series of GDP. As per...
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