-The Indian Express The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally. The relation between the Centre and the states has reached its nadir with the controversy over the GST compensation payment. The shortfall in GST revenues in 2020-21 from the protected level will be of the order of Rs 3 lakh crore. The...
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Explained: Forex reserves at all-time high — why did this happen, and what does it mean for India’s economy? -George Mathew and Sandeep Singh
-The Indian Express The current situation stands in stark contrast to the one in 1991, when India had to pledge its gold reserves to stave off a major financial crisis. In March 1991, India had forex reserves of a mere $5.8 billion; today, the country can depend on its soaring foreign exchange reserves to tackle any crisis on the economic front. India’s foreign exchange (forex) reserves surged by $3.883 billion to touch...
More »Sangh seeks Ban on book Modi released -KM Rakesh
-The Telegraph The work eulogises a prominent leader of the 1921 Malabar Rebellion, Variyamkunnath Haji, who the Right wing describes as 'anti-Hindu' Social media forwards of excerpts from a central government-published book eulogising a rebel against British rule who the Right wing describes as “anti-Hindu” has caused embarrassment to the Sangh parivar, more so because the compilation had been released by Prime Minister Narendra Modi. Dictionary of Martyrs of India’s Freedom Struggle (1857-1947),...
More »Indian economy is heading for a K-shaped recovery and it won’t be a pretty sight -TN Ninan
-ThePrint.in K-shaped recovery means the growing gap between ‘winners and losers’. An example in India is the stock market being healthy while millions have lost their jobs. Amidst the flood of commentary that followed the finding that the world’s fastest-growing large economy had become its fastest-shrinking one, an observation that stood out was that India’s growth potential had dropped from 6 per cent to 5 per cent. Now, it has been obvious...
More »Big rural credit push from RBI, start-ups put in priority sector -George Mathew
-The Indian Express Loan limits for renewable energy, health infrastructure doubled The Reserve Bank of India (RBI) on Friday brought financing of start-ups under the priority sector lending (PSL) category of the Banking sector, proposed more credit flow to districts with lower PSL, and doubled loan limits for renewable energy and health infrastructure “to align it with emerging national priorities and bring sharper focus on inclusive development.” In a bid to address regional...
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