-Newsclick.in Unemployment has inched up to over 9% as the year ends and the so-called economic recovery is a mirage. For Indians, 2020 will go down in history as the worst year for livelihoods and incomes. Unemployment levels rose to record highs, incomes plummeted to record lows and such was the scale of deprivation that thousands of families teetered on the brink of starvation. Tragically, this was not just the pandemic. It...
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Unprecedented rise in China’s ‘market-subverting’ impact on global economy going forward: Niti Aayog -Roshan Kishore
-Hindustan Times The note, which has been reviewed by HT, paints a grim picture of the global economy going forward, does not rule out something like the Great Depression of the 1930s, and sees a rise in poverty, unemployment and debt. The Covid-19 pandemic will transform the global economic order for worse, with a “market subverting” China emerging as the alternative pole to the US, says a background note of the Niti...
More »India’s external sector during the pandemic -CP Chandrasekhar and Jayati Ghosh
-NetworkIdeas.org The complete absence of any meaningful fiscal response from the Indian government in the face of one of the biggest economic crises ever faced, cries out for explanation. One argument has been that the central government is concerned about its external vulnerability: a large increase in public spending could generate higher imports, thereby worsening the trade deficit at a time when volatile capital flows have already made the balance of...
More »India’s budget needs to address gender inequity in employment -Ashwini Deshpande
-Livemint.com The country can’t expect to be a superpower with gender disparities worsening the way they are The latest bulletins from the Centre for Monitoring Indian Economy (CMIE) present a dismal picture. The calamitous fall in employment in April 2020 was followed by a partial recovery in May and June, but the recovery tapered off by September. October and November saw declines again. This slowdown in economic activity can be seen in...
More »India’s economy in 2020: Year of many questions -Anil Sasi
-The Indian Express India's economy in 2020: As Annus Horribilis 2020 comes to an end, there are positives in the economy: signs of a GDP rebound, and buoyant equity markets. But demand is weak, receipts are down, and the employment situation is grim. All eyes are on the Budget — and on the vaccines In a little over a month, Finance Minister Nirmala Sitharaman will present what she has heralded as “a...
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