-Down to Earth Government spending has led to demand growth in rural areas; but what if it comes down? Rural India has emerged as the saviour of the shattered Indian economy. From Ratan Tata to the governor of the Reserve Bank of India, everybody is betting on the consumption demand growth in rural areas to boost the novel coronavirus disease (COVID-19) pandemic-stricken economy. There is a lot of talk on the ‘green shoots’...
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Explained: What is a technical recession? -Udit Misra
-The Indian Express Latest RBI bulletin projects contraction for a second consecutive quarter, which means the economy is in a ‘technical recession’. What does it mean, and how is it different from a ‘recession’ and a ‘recessionary phase’? In its latest monthly bulletin — for November — the Reserve Bank of India has dedicated a chapter on the “State of the economy”. The idea is to provide a monthly snapshot of some...
More »Centre rolls out ₹1.19 lakh-crore stimulus package
-The Hindu Atma Nirbhar Bharat Abhiyan 3.0 includes scheme to incentivise new recruitment. Finance Minister Nirmala Sitharaman on Thursday announced a fresh set of relief and stimulus measures for the economy worth ₹1.19 lakh crore, including a scheme to boost re-employment chances of formal sector employees who lost their jobs amidst the COVID-19 pandemic. The measures, announced a day after the Reserve Bank of India (RBI) said the country had entered into a...
More »Recession: July-Sept GDP to contract 8.6%, estimates RBI
-The Indian Express The RBI, however, said the economy will break out of contraction of the six months gone by and return to positive growth in the October-December quarter of 2020-21. Mumbai: The Indian economy likely entered into a technical recession for the first time in history at the end of the first half of 2020-21, according to the Reserve Bank of India. After an unprecedented decline of 23.9 per cent in GDP...
More »Four years since demonetisation: Cash in system steadily rising, at all-time high -George Mathew and Sandeep Singh
-The Indian Express After Rs 500 and Rs 1,000 notes were withdrawn from the system in November 2016, currency with the public, which stood at Rs 17.97 lakh crore on November 4, 2016, declined to Rs 7.8 lakh crore in January 2017 soon after demonetisation. Four years after the government announced demonetisation on November 8, 2016, the currency with public for the fortnight ended October 23, 2020 stood at a record high...
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