-Scroll.in JNU professor Himanshu says the economic slowdown is not the result of a one-off event like demonetisation, the slump began almost two years ago. The economy is in a trough. The first quarter of 2017-2018 saw the growth of gross domestic product (the total value of all goods and services produced in a country in a year) drop to 5.7% from 7.9% in the corresponding period last year – the...
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Economy Plunging Headlong Into Recession -Prabhat Patnaik
-TheCitizen.in NEW DELHI: Volume II of the Economic Survey which was brought out by the Ministry of Finance a few days ago paints an extremely grim picture of the Indian economy. The growth rate of real Gross Value Added (GVA which is the appropriate thing to look at, since the GDP measure includes net indirect taxes and hence does not truly reflect output trends), was 6.6 percent for 2016-17 as a whole,...
More »Economy will decelerate if States resort to farm loan waivers
-The Hindu Business Line Total burden could swell to Rs. 2.7 lakh cr New Delhi: Farm loan waivers could be detrimental to the economy as they could reduce aggregate demand by 0.7 per cent of GDP, imparting a significant deflationary shock to the economy, the Survey said. There is visible farm stress, even though it is not as widespread as it is made out to be, the Survey said, adding that the drastic...
More »Economy red flags go up -Jayanta Roy Chowdhury and R Suryamurthy
-The Telegraph New Delhi: India's growth juggernaut has started to lose steam. In the mid-year Economic Survey, chief economic adviser Arvind Subramanian flagged big risks to economic growth and fiscal targets while asserting that the country had entered a "new phase of relatively low, possibly very low, inflation". In the first volume of the survey published in January, the government had forecast GDP growth in the range of 6.75 to 7.5 per cent...
More »RBI surveys a wake-up call for the Narendra Modi government -Manas Chakravarty
-Livemint.com The RBI survey for June 2017 shows people are as unhappy with their income growth, employment and economic well-being as they were before the Narendra Modi government came to power Perceptions matter. The government of the day will be able to garner more support if people feel their incomes are increasing or their employment prospects have improved. True, non-economic factors matter a lot and, throughout history, the ability to stage circuses...
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