-The Hindu COVID-19 could impact final numbers, says the National Statistical Office. India’s gross domestic product (GDP) is expected to grow by 9.2% in the current financial year following last fiscal’s 7.3% contraction, the National Statistical Office (NSO) said in its first advance estimates of economic output released on Friday, amid concerns over the likely impact of a third wave of the COVID pandemic. The NSO, however, made clear that these were “early...
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Jean Drèze, development economist and right to food activist, interviewed by Shriya Mohan (The Hindu Business Line)
-The Hindu Business Line The development economist, now part of Tamil Nadu’s Economic Advisory Council, says that public expenditure on health is just 0.6 per cent of the state domestic product, one of the lowest ratios among Indian states * Universal quality education, health care and social security are still distant goals * A well-designed system of emergency cash transfers would be quite useful in this situation of recurrent crises, which may last...
More »China may have become more prosperous in comparison to India in 2020, estimates new study
During the last one year, India seems to have lost the race in becoming the world leader in terms of development, prosperity and growth thanks to the recession brought about by the Covid-19 pandemic. The total number of poor people in the country has swelled and the middle class has shrunk in 2020 in comparison to what was anticipated earlier. A new study by the United States based think tank Pew...
More »A disconnect that shows the real state of the country’s economy -Himanshu
-Livemint.com * Disaggregated data contradicts the rosy picture that national accounts paint of our performance * It’s premature to conclude that a recovery is underway, as our GDP rise in 2020-21’s third quarter was on a very low base. Also, other data sets reveal that distress remains widespread. Estimates of growth in the third quarter of 2020-21 along with advance estimates of the full year were released last month by India’s statistics ministry....
More »The Enormous Extra Spend In Budget Is An Illusion -Aunindyo Chakravarty
-NDTV blog Nirmala Sitharaman said: "We have spent, we have spent and we have spent." She had every reason to claim that, since the budget numbers show that the centre spent ₹ 4.1 lakh crore, or 13 percent above what it had planned for last year. Additional spending will continue this year: expenditure is estimated to go up by 14.5 percent in 2021-2022 compared to last year, even though the government's...
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