-Newsclick.in According to CMIE data, the national unemployment rate in April registered a four-month high of 7.97% – with urban and rural joblessness at 9.78% and 7.13% respectively – as against the previous month’s figure of 6.50%. The recent surge in COVID-19 cases has sent the pandemic spiralling anew in the country, with its impact visible not just on the already strained healthcare infrastructure but also on the economic front – particularly...
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A Market gone awry -CP Chandrasekhar and Jayati Ghosh
-The Hindu Business Line/ NetworkIdeas.org It defies all logic. As expected, once the implications of the Covid-19 contagion began to be absorbed, the BSE Sensex lost 37 per cent in value, falling from a level just above 41,000 on February 19, 2020, to just below 26,000 on 23 March 2000 (Chart 1). That was the day when the nationwide lockdown was declared and three days before the first of the government’s...
More »How India could spend its way out of the Great Recession -Nikita Kwatra and Pramit Bhattacharya
-Livemint.com The government will have to ensure its spending improves economy-wide productivity, and its own revenue-generating capacity, to avoid a stagflationary trap After dithering on a fiscal Stimulus Package for nearly a year, India’s finance minister Nirmala Sitharaman has declared that she will not allow the fiscal deficit number to worry her too much as she pushes spending to revive growth in the upcoming budget. The government hopes that growth will generate higher...
More »Decoding the dip in public expenditure -Avani Kapur and Sharad Pandey
-Hindustan Times Despite enhanced commitments across spheres, the government has spent less this year than it did last year Typically, when a crisis hits, the expectation is that the Centre — which has more revenue-raising abilities than states — will take the lead in preparing a fiscal road map, loosen its purse strings and raise expenditure significantly. The Covid-19 pandemic is unprecedented in its scale and impact. But this is also when...
More »Despite Stimulus, Data Shows The Government May Be Spending Less, Not More -Mariyam Alavi
-NDTV According to the data available with the Controller General of Accounts, however, the central government's total spending fell from ₹ 14.9 lakh crore in April-September 2019 to ₹ 14.8 lakh crore in April-September 2020, a drop of almost 1 per cent. In a year when the government has announced multiple Stimulus Packages to revive India's covid-hit economy, the central government has spent less than the previous year, NDTV has found. The...
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