-The Hindu An immediate stimulus is needed to regain the momentum to get India back to 8% growth The government’s move this past week to publish economic data for the April to June quarter of this year needs a look. The real growth of GDP, i.e. after removing the impact of inflation, was only 5.7%, much lower than expected. For the past six consecutive quarters, the growth rate has gone down steadily,...
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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 »Pradhan Mantri Fasal Bima Yojana -- a good scheme with flawed implementation, says CSE's latest report
-Centre for Science and Environment New Delhi: Centre for Science and Environment (CSE) released here today the first detailed independent evaluation and analysis of the Pradhan Mantri Fasal Bima Yojana (PMFBY) – government’s flagship national agricultural insurance programme. Across the world, agriculture insurance is recognised as an important part of the safety net for farmers to deal with the impacts of extreme and unseasonal weather due to climate change. Releasing the report...
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 »Data in the post truth era -Prabhat Patnaik
-The Telegraph The Narendra Modi government's record in tacitly supporting the actions of a bunch of vigilante thugs who have been terrorizing the country, especially the Muslims and the Dalits, in the guise of gau rakshaks, or opponents of love jihad, or 'nationalists', has been so outrageous that it has grabbed all the critical attention. In the process, the government's abysmal failures in other spheres have gone virtually unnoticed. One such...
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