-The Indian Express Multiple data sets confirm sluggish pace of employment creation. Paucity of data can no longer be an excuse for the lack of debate. Jobs are an integral part of India’s political narrative today. This is unsurprising because the NDA came to power on the promise of creating a large number of jobs for India’s rapidly rising work force. However, much of the debate on employment performance over the last...
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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 »Declining bank credit indicates poor economic performance
Apart from gross domestic product (GDP) and gross value added (GVA), another indicator which shows whether an economy is thriving or stagnating is the growth in bank credit. Credit is a critical input in the production of goods and services. It is generally the case that during prosperous times, economic actors, who are engaged in different sectors or in various industry, take up bank loans to invest. The provisional data...
More »Where are the jobs? -Himanshu
-Livemint.com The BJP government, which came to power on the promise of creating 20 million jobs per year, has not yet recognized the gravity of the situation The Central Statistical Office (CSO) has released the full-year growth estimates for 2016-17. These had been much awaited given the uncertainty over the impact of demonetization. These were on expected lines, with fourth quarter growth in gross value added (GVA) in 2016-17 declining to 5.6%...
More »Budget expectations for rural sector
Amidst uncertainty over India's performance in terms of agricultural production and livelihood security of rural population, the Union Budget of 2016-17 will be presented by Finance Minister Shri Arun Jaitley on 29 February. Given the extent of drought in more than 10 states of India during 2015-16, it is expected that the NDA Government will allocate more resources for rejuvenating the rural sector. Since the country has seen two years of...
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