-The Hindu Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening. India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well as households and individuals worst hit by the pandemic, CII president Uday Kotak said on Wednesday. “I think the time has come for the fisc [fiscal authorities] to do a lot...
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The fault line of poor health infrastructure -Ashwini Deshpande
-The Hindu As and when India emerges on the other side of the pandemic, bolstering public care systems has to be the top priority As the second wave of the COVID-19 pandemic ravages India, many bitter home truths and fault lines have been starkly exposed. One of these is the abysmally poor state of the country’s health infrastructure. world bank data reveal that India had 85.7 physicians per 1,00,000 people in 2017...
More »Expected growth of 12.5% for India but “ very severe downside risks” due to COVID wave: IMF -Sriram Lakshman
-The Hindu Averting divergent outcomes would mean “resolving the health crisis everywhere” the report says After an estimated contraction of 8% in the fiscal year that ended March 31, India is projected to grow at 12.5 % during the current year, settling down to 6.9% growth year (FY22/23), according to the World Economic Outlook (WEO): Managing Divergent Recoveries, released by the IMF as the world bank IMF Spring Meetings kick off virtually....
More »The pillars of an equitable post-COVID India -S Mahendra Dev
-The Hindu In the post-pandemic world, addressing inequality is key to sustaining growth and well-being COVID-19 in the last one year has once again reminded us of the growing inequalities in India. A recent Pew Research Report shows that India’s middle class may have shrunk by a third due to the novel coronavirus pandemic while the number of poor people earning less than ₹150 per day more than doubled. The Pew report...
More »India FY21-22 growth will be in the 7.5%-12.5% range, likely 10.1 %: world bank -Sriram Lakshman
-The Hindu The Bank expects public consumption to contribute positively, but pent-up private demand to fade by end of 2021 India’s economy is expected to grow at 10.1% for the year starting April 1, 2021, as the vaccine roll-out drives activity in contact-intensive sectors, as per the world bank’s South Asia Economic Focus South Asia Vaccinates report. However, given the significant uncertainty around epidemiological and policy factors, real GDP growth could range...
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