-Business Standard As critics find fault in the new gross domestic product (GDP) data, National Statistical Commission (NSC) Chairman Pronab Sen, heading a committee to review the methodology of the new series, tells Indivjal Dhasmana much of the criticism is due to the lack of information about the methodology and sourcing of the new data. Edited excerpts: NSC has appointed a committee under you to review the new GDP data. Has it...
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New GDP numbers' sheen to UPA-II -Indivjal Dhasmana
-Business Standard Govt's revised method of calculating output and growth make recomparisons inevitable in earlier judgments At the outset, nobody would believe that India's economy expanded by double-digits only four years earlier and the growth rate in gross domestic product (GDP) dived to as little as below four per cent during the global financial crisis period of 2008-09. Yet, these would be the facts if one measures growth in terms of the...
More »The dynamics of inequality
-The Hindu Occupational and geographic mobility across the region are bridging income and consumption-related disparities, says the World Bank report, ‘Addressing Inequality in South Asia'. The findings accordingly underscore the role of urbanisation and private sector participation as being critical to mitigating socio-economic disadvantages. Inequality should be understood in terms of monetary and non-monetary dimensions of well-being, contends the report. The share of the poorest 40 per cent of households...
More »Free market model has failed: Kaushik Basu -Puja Mehra
-The Hindu "World Bank too has changed its goal to fighting no longer for just eradication of poverty but also for shared prosperity" There is now a consensus the world over that the free market economic model does not work, said World Bank chief economist and former Chief Economic Adviser to the government of India Kaushik Basu on Sunday. Dr. Basu was speaking at a function organised here by the ‘Ideas for...
More »Modi U-turn for the better: Changing NREGA would have been a mistake -Rajesh Pandathil
-FirstPost.com Not all U-turns are bad. Some are good, like the one by the NDA government on the MNREGA, also called NREGA . For the uninitiated, the new NDA government had about three months back proposed to make changes to the pro-poor scheme launched by the erstwhile United Progressive Alliance. According to media reports that cited a circular, the proposal was to amend the NREG Act by restricting the area of work...
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