-Newsclick.in After economic liberalisation, barring a brief hiatus, the growth rate has scarcely moved up compared with earlier, with manufacturing -- the sector that counts most -- often logging lower growth than before. The “gross domestic product” (GDP) is a concept rooted in an epistemic position which is intrinsically incapable of recognising the existence of a “surplus” in society. A simple example will make this clear. Suppose we have an agrarian economy...
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Achchhe din's worst day
-The Telegraph The Central Statistics Office reported today that economic growth sank to a three-year low at 5.7 per cent, striking at the core of Prime Minister Narendra Modi's promise of achchhe din. The sharp slowdown is a result of the two biggest disruptive measures taken by the Modi government: demonetisation and the goods and services tax. The double whammy has badly crimped factory output and squeezed the services sector. The GDP growth...
More »At 5.7%, Q1 GDP growth slumps to 3-year low -KR Srivats
-The Hindu Business Line Uncertainty over GST and related de-stocking hit industrial sector in Q1, says Anant New Delhi: Three key macro-data points released on Thursday presented a worrying picture of the economy, adding credence to the Reserve Bank of India Monetary Policy Committee’s recent fears of slower growth. The keenly-awaited first-quarter GDP growth number came in at 5.7 per cent, a three-year low and far lower than the 7.9 per cent GDP...
More »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 »Loan waiver alone not the panacea for Maharashtra farmers' woes: Experts -Rahul Wadke
-The Hindu Business Line High inputs costs, low price for produce and water scarcity are major challenges Mumbai: Despite the Rs. 34,000 crore farm-loan waiver in Maharashtra, farmers’ lives are unlikely to change for the better as they will continue to be up against familiar problems such as high input costs, low prices for their produce, and scant water availability, say farm sector experts. They are of the opinion that the core issues...
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