-The Hindu The rhetoric in the Budget of accelerated, inclusive and sustainable development receives only limited financial backing The general election is over and a new government has been formed. But the campaign does not seem to end. More than an hour of Finance Minister Nirmala Sitharaman’s maiden Budget speech was largely devoted to underlining what she claimed were the remarkable economic achievements of the previous government. Given that legacy, she presented...
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A Budget that goes nowhere -C Rammanohar Reddy
-The Hindu It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy. The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will...
More »India GDP overestimation: more evidence -Nikita Kwatra
-Livemint.com India’s actual growth rate over the past few years may have been in the range of 5-5.5% over the past few years, according to a new study Last month, a research paper by the former chief economic adviser to the finance ministry, Arvind Subramanian, reignited the controversy surrounding India’s GDP calculations. In his paper, Subramanian suggested that India’s growth rate in recent years had been grossly overestimated --- a claim that...
More »Not by wishful thinking -R Nagaraj
-The Hindu A $5 trillion Indian economy may be attainable if domestic saving and investment are stepped up In early June, at a NITI Aayog meeting, Prime Minister Narendra Modi set a clear and bold economic target — to grow India into a $5 trillion economy by 2024. It is now for ‘Team India’, as the meeting was bannered, to translate this target into a plan and policies and programmes. Historically, such...
More »Prudent prescription: on MSME sector
-The Hindu An RBI panel’s suggestions on the MSME sector cut to the heart of crucial issues The micro, small and medium enterprises (MSME) sector in India is not only a key engine of growth, contributing more than 28% of the GDP and about 45% to manufacturing output. It is also a true reflection of economics where people really matter. Providing employment to about 111 million people, the sector’s health is crucial...
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