-National Herald Maitreesh Ghatak, Professor of Economics at London School of Economics, in an interview to Tathagata Bhattacharya says the government has failed on many counts At the end of the day, it is growth and employment generation via new investment that is key to long-term economic progress. Various welfare schemes are a way of providing a social safety net to the poor in the short-run. It is performance along these two...
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Why factory output figures are suspect -R Nagaraj
-The Hindu Business Line The MCA database, which underpins the jump in factory GDP, is unconvincing. The ASI method was set aside for wrong reasons In early 2015, the Central Statistical Office (CSO) introduced a new series of National Accounts Statistics (NAS) with 2011-12 as the base year, replacing the earlier series with the base year 2004-05. It is the CSO's routine job to make such revisions, roughly once in a decade,...
More »Consumption-driven GDP growth unhealthy for Indian economy -Manas Chakravarty
-Livemint.com A consumption-driven growth not only fuels inflation, but also can arguably lead to a slackening of future growth Economic growth of 8.2% for the June quarter may have beaten all estimates, but the big question is: what kind of growth is it? Is the economy firing on all the engines of domestic consumption, investment demand and external demand? Let’s look at the numbers. The anecdotal evidence of a spurt in consumption growth...
More »Pronab Sen, former Chief Statistician of India, interviewed by TCA Sharad Raghavan
-The Hindu The former Chief Statistician on calculating GDP back series, on indicators of development, and the fall of the rupee The draft of the back series GDP data, which was made public by the government recently, is unlikely to change drastically even if other methods of calculation are used, says former Chief Statistician of India, Pronab Sen. The noted economist discusses GDP, employment and poverty data; the value of the rupee;...
More »Factory workers in India -CP Chandrasekhar and Jayati Ghosh
-NetworkIdeas.org Recent data from the Annual Survey of Industries, covering up to 2015-16, provide some interesting insights into the changing nature of industrial employment in India. In the decade up to 2015-16, there was a significant increase in the number of factory workers, by around 40 per cent. This expansion can be dated from around 2005-06 onwards and especially up to 2011-12. This is to be expected, given that that was...
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