-The Times of India NEW DELHI: In the last one week or so, the government has actively turned its focus towards reviving the country's economy. On Thursday, news agency Reuters quoted government officials to report that the Centre is planning to spend up to Rs 50,000 crore to arrest the 'economic slowdown'. This report came a day after Finance Minister Arun Jaitley said that the government is considering additional measures to...
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'Need revenue for public spending,' says Arun Jaitley on high petrol, diesel taxes
-PTI 'If public spending is slashed, it will mean cutting down expenditure on social sector scheme." There is hardly any private investment,' explained Finance Minister Arun Jaitley. Finance Minister Arun Jaitley provided no indication today of any cut in excise duty on petrol and diesel to cushion the spike in rates, saying that the government needs revenue to support public spending without which growth will suffer. States levy a high amount...
More »Himanshu, an associate professor in economics at Delhi's Jawaharlal Nehru University, interviewed by Nitin Sethi (Scroll.in)
-Scroll.in JNU professor Himanshu says the economic slowdown is not the result of a one-off event like demonetisation, the slump began almost two years ago. The economy is in a trough. The first quarter of 2017-2018 saw the growth of gross domestic product (the total value of all goods and services produced in a country in a year) drop to 5.7% from 7.9% in the corresponding period last year – the...
More »Why govt-subsidised Amma, Indira canteens are lifesavers -Reetika Khera
-Hindustan Times After Tamil Nadu’s pioneering Amma canteens, many states have started community kitchens, such as Karnataka’s Indira Canteens. This is a welcome development. The first coverage of the recently inaugurated “Indira canteens” in Karnataka that I noticed were two reports on television channels. Both were poking fun (justifiably) at Rahul Gandhi’s goofy speech at the launch. Sadly though, neither commented on the rationale or importance of the Karnataka government’s initiative. This...
More »Economy red flags go up -Jayanta Roy Chowdhury and R Suryamurthy
-The Telegraph New Delhi: India's growth juggernaut has started to lose steam. In the mid-year Economic Survey, chief economic adviser Arvind Subramanian flagged big risks to economic growth and fiscal targets while asserting that the country had entered a "new phase of relatively low, possibly very low, inflation". In the first volume of the survey published in January, the government had forecast GDP growth in the range of 6.75 to 7.5 per cent...
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