-Down to Earth Agriculture was the only sector to have clocked a positive growth at constant prices in 2020-21 The share of agriculture in Gross Domestic Product (GDP) has reached almost 20 per cent for the first time in the last 17 years, making it the sole bright spot in GDP performance during 2020-21, according to the Economic Survey 2020-2021. The resilience of the farming community in the face of adversities made agriculture...
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India only key nation with double-digit growth in FY22: IMF
-The Indian Express In its latest World Economic Outlook Update, released Tuesday, the IMF predicted that China would grow 8.1 per cent in 2021, followed by Spain (5.9 per cent) and France (5.5 per cent). The Indian economy will stage a strong rebound and grow as much as 11.5 per cent on year in FY22, the International Monetary Fund (IMF) said on Tuesday, revising up its earlier forecast of an 8.8 per...
More »Fix inverted tariff structures to boost industrial growth in India -C Veeramani and Anwesha Basu
-Livemint.com Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness A steady decline in import tariff rates in manufacturing industries had been an important feature of India’s economic reforms during the 1990s and 2000s. The average import tariff rate was reduced from about 84% in 1990 to the lowest-ever level of 8.6% in 2010. Consequently, imports of goods plus services as a percentage...
More »Why we must listen to farmers -Sudeshna Maya Sen
-IDROnline.org Agriculture value-chains can only be strengthened by listening to multiple actors; most importantly, farmers. India has been witnessing a spate of month-long farmer protests across the country, particularly in the national capital, against the recently introduced farm bills by the central government. One of the major reasons behind these agitations, including calls for repealing the law, is that farmers were not actively involved in the policymaking cycle of these laws, which...
More »RBI Warns Gross NPAs of Banks May Escalate to 14.8% in September in Absence of Adequate Capital
-Moneylife.in While highlighting the need for proactive building up of adequate capital for banks to withstand possible asset quality deterioration, the Reserve Bank of India (RBI) has warned that the gross non-performing assets (GNPAs) of scheduled commercial banks (SCBs) may escalate to 14.8% under a severe stress scenario. In its financial stability report (FSR), the central bank says, "Macro stress tests incorporating the first advance estimates of Gross Domestic Product (GDP) for...
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