-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...
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Reversing the Economic Reversal -Pulapre Balakrishnan
-Hindustan Times Don’t bank on V-shaped recovery. The Centre must discard dogmas, enhance investment News of a contraction of almost 24% of the gross domestic product (GDP) in the first quarter of this year would have come as a shock to every responsible citizen. The degree of contraction exceeds that in any major world economy. This is not surprising as India combined the world’s most stringent lockdown with the weakest economic stimulus. For...
More »The US and India have failed the developing world -CP Chandrasekhar & Jayati Ghosh
-The Hindu Business Line By blocking a proposal for the IMF to issue new Special Drawing Rights, the two have denied developing countries much-needed liquidity at a time of extreme economic distress At the recent G20 and IMF-WB Spring meetings held virtually in the third week of April 2020, a proposal for the IMF to issue an additional 500 billion of Special Drawing Rights (SDRs) was blocked by the US and —...
More »Hans Timmer, World Bank's Chief Economist for South Asia, interviewed by Suhasini Haidar (The Hindu)
-The Hindu Disruptions in the supply chain and panic buying can lead to price spikes: Hans Timmer In a report released this month, the World Bank has predicted a ‘dire’ situation for South Asia due to the economic impact of measures to counter the novel coronavirus pandemic, suggesting that the eight SAARC countries (Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan, Maldives and Sri Lanka) will experience their worst economic performance in 40 years,...
More »Planting forests no panacea for the climate crisis: IPCC -Tarun Gopalakrishnan
-Down to Earth The IPCC’s Special Report on Climate Change and Land says land-based carbon sinks are not limitless The carbon cycle is classically described in terms of ‘sources’ and ‘sinks’ of emissions. The electricity sector, which converts fossil fuels into light and heat, is a source (as are most human activities since the dawn of the industrial age). Identifying sinks is trickier. We know that, as a general principle, more forest cover...
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