-Newsclick.in GDP recovery from the lockdown-induced abyss is accompanied by significant labour displacement and squeeze on wages, which will impact aggregate demand. Ministers from Narendra Modi to Nirmala Sitharaman are talking about a recovery of the Indian economy from the pandemic-induced crisis. Even the Reserve Bank of India (RBI), which estimated the second quarter GDP growth to have been -8.6%, has seen signs of recovery in October. Of course, there had to be...
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Top Court To Hear Plea Seeking Regulation On UPI Platform Data On Monday
-NDTV.com/ PTI The matter came up for hearing before a Supreme Court bench comprising Chief Justice SA Bobde and Justices AS Bopanna and V Ramasubramanian which listed it for hearing next week. New Delhi: The Supreme Court has said it would hear on November 23 the plea filed by Rajya Sabha MP Binoy Viswam seeking direction to the RBI for framing regulation to ensure that data collected on UPI platforms is not...
More »Did not ignore plight of borrowers, Centre tells Supreme Court -Krishnadas Rajagopal
-The Hindu Financial packages in place as early as March, court told The Centre took strong objection to averments made in the Supreme Court on Thursday that it would not have budged to protect borrowers from financial ruin triggered by the COVID-19 lockdown, had the court not intervened on time. Appearing before a Bench led by Justice Ashok Bhushan, Solicitor General Tushar Mehta said submissions like that were painted in “political colour”. Mr. Mehta...
More »Has personal loans seen a rebound ahead of the festive season? The answer is in the negative
Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
More »The Hindu Explains: What is technical recession, and what does it mean for the Indian economy? -Suresh Seshadri
-The Hindu * What has the RBI cautioned about GDP decline amid the pandemic, and what lies ahead? The story so far: The Reserve Bank of India’s (RBI) latest monthly bulletin features an article by an official at its Monetary Policy Department titled ‘An Economic Activity Index for India’, where the author has, in a ‘nowcast’ (a forecast that estimates the outcome of a near-term event), projected that India’s GDP (Gross Domestic...
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