Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
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The Hindu Explains: What is technical recession, and what does it mean for the Indian economy? -Suresh Seshadri
-The Hindu * What has the RBI cautioned about GDP decline amid the pandemic, and what lies ahead? The story so far: The Reserve Bank of India’s (RBI) latest monthly bulletin features an article by an official at its Monetary Policy Department titled ‘An Economic Activity Index for India’, where the author has, in a ‘nowcast’ (a forecast that estimates the outcome of a near-term event), projected that India’s GDP (Gross Domestic...
More »Firecrackers heard across Delhi on Diwali night despite Ban
-The Hindu/PTI Action will be taken against those violating the Ban. says police Bursting of firecrackers could be heard across Delhi and its neighbouring areas on Diwali night even though a Ban was imposed on its sale and use in the national capital region in view of rising air pollution and COVID-19 pandemic. Sparklers were seen lighting up the night sky while crackers went off on the ground in various areas. Please click here...
More »Demonetisation: Modi’s Hollow Claims on Curbing Black Money -Prabhat Patnaik
-Newsclick.in The PM’s claim that greater cash use is associated with less transparency and hence a larger black economy is baseless, as is his assertion that cash use in India has fallen. On the fourth anniversary of demonetisation (November 8), Prime Minister Narendra Modi has claimed that it succeeded in curbing black money. He probably believes he can get away with making this claim because of the passage of time. But most...
More »After Sikkim, Lakshadweep set to turn 100% organic -Vineet Kumar
-Down to Earth The use of synthetic chemicals for agriculture was halted completely in 2005 by the Union territory Lakshadweep, after Sikkim, is on its way to become 100 per cent organic. The Union territory’s agriculture department had submitted a proposal to the Union Ministry of Agriculture and Farmers’ Welfare, seeking to declare its entire 32 square kilometre geographical land area as organic. The proposal was approved October 26, 2020 after receiving required certifications...
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