-The Hindu Business Line Nations must rely more on innovative, home-grown solutions to deal with the uncertain economic situation The International Monetary Fund (IMF), in its latest July 2022 World Economic Outlook (WEO) Update, foretells a story of a gloomy and more uncertain outlook for the global economy. While the global growth was projected at 3.6 per cent in April 2022, as per the latest July 2022 projections, it is 3.2 per...
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What’s falling: Poverty or quality of analysis? -Santosh Mehrotra
-Deccan Herald Dodgy data Surjit Bhalla, India’s Executive Director (IMF), Arvind Virmani, former Chief Economic Advisor under UPA, and K Bhasin, in an IMF Working Paper, state that to estimate poverty, when no survey has been undertaken, is to take the most recent survey (2011-12) data and update individual consumption (or personal) income by the corresponding growth rate observed in the national accounts (NAS). However, there are problems with estimating poverty based on...
More »"Beg India To Reconsider Wheat Export Ban As Soon As Possible": IMF Chief
-NDTV.com India banned wheat exports earlier this month as an intense heat wave hit output and domestic prices hit a record high. Davos: International Monetary Fund (IMF) chief Kristalina Georgieva on Tuesday implored India to reconsider its ban on wheat exports, saying the country could play a key role in international food security and global stability. "I do have an appreciation for the fact that India needs to feed nearly 1.35 billion people...
More »Poor Economics: Has India’s poverty really fallen? -Santosh Mehrotra & Jajati Parida
-Financial Express Dataset and methodological weaknesses cast doubt on recent poverty estimates that claim drastic reduction Bhalla, Bhasin and Virmani in a working paper (IMF), claimed India’s poverty, per a $1.9 per person per day poverty line (at PPP), was 0.9% of the population in 2020. Thanks to government transfer of free rations of 5 kg per person month, it fell to 0.8% (from 0.9% in 2019). Roy and de Velt, for...
More »India witnessed sharp decline in poverty with 12.3 percentage points between 2011-2019. Details here
-Livemint.com Poverty reduction was higher in rural areas compared to urban India as rural poverty declined from 26.3% in 2011 to 11.6% in 2019, while in urban areas the decline was from 14.2% to 6.3% during the corresponding period, as per report Spelling some relief for the country's prosperity, India's extreme poverty declined 12.3 percentage points lower in 2019 than in 2011 as poverty headcount rate has dropped from 22.5% in 2011...
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