-PTI Washington: Basu said from 2003 to 2011, India was growing typically over 8 per cent per annum. The year of global crisis, 2008, it dropped briefly to 6.8 per cent, but over 8 per cent growth had become the new norm for India. The downturn in India’s growth is “very worrying”, World Bank’s former chief economist Kaushik Basu said, underscoring that this is the “hefty price” the country had to pay...
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Economy outlook still cloudy -Ajit Ranade
-The Hindu An immediate stimulus is needed to regain the momentum to get India back to 8% growth The government’s move this past week to publish economic data for the April to June quarter of this year needs a look. The real growth of GDP, i.e. after removing the impact of inflation, was only 5.7%, much lower than expected. For the past six consecutive quarters, the growth rate has gone down steadily,...
More »Taking stock of the Indian Economy: Consumption key to GDP growth
-Livemint.com Nine charts that sketch the anatomy of the slowdown in India’s economic growth and look ahead The Indian economy’s growth in the June quarter, 5.7%, has been worse than expected. Economists expect the current quarter to see much higher growth. But how significant is the slowdown? And how sharp will the recovery be? Here are nine charts that sketch the anatomy of the slowdown and look ahead: Chart 1 shows the depth...
More »Central panel says states do not need to hike NREG pay to match minimum wage -Shalini Nair
-The Indian Express A report, prepared by a Ministry of Rural Development (MoRD) committee states that wages under the rural employment guarantee scheme were last aligned to minimum wages in 2009, and that “there is no compelling reason to align MGNREGA and states minimum wages again”. New Delhi: THE PANEL for revision of wages under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has recommended in its final report that there...
More »NITI Aayog's three-year action plan on agriculture raises hope as well as concerns
-Down to Earth In a major digression from the current discourse on GM crops, the report claimed that the farmers in India have “enthusiastically embraced” GM seeds For the first time since the five-year plans were scrapped, the NITI Aayog presented the three-year action plan last week. The report, which draws on recommendations made by the Task Force on Agricultural Development and a group of secretaries appointed by PM Modi at...
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