The World Economic Outlook – a bi-annual publication of the International Monetary Fund (IMF) -- released in October 2020 has anticipated that the economic progress made by the countries since the 1990s to reduce poverty would be turned upside down by the COVID-19 pandemic. On top of that, economic disparity would rise too in the post-COVID world because the crisis has disproportionately impacted women, informal sector workers and people with...
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CEA Subramanian asks NSC to make junked consumer spending report public -Somesh Jha
-Business Standard The findings of the report, published by Business Standard in November 2019, showed consumer spending falling for the first time in over four decades in 2017-18. Chief economic advisor (CEA) Krishnamurthy Subramanian has asked the National Statistical Commission (NSC) to make public the 2017-18 consumer spending survey data. “The government had decided to not release the consumer expenditure survey report. But, earlier this year, NSC Chairman Bimal Kumar Roy received a...
More »True fiscal responsibility -Pulapre Balakrishnan
-The Hindu Slashing public expenditure amid a recession is a recipe for serious economic disaster The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what...
More »Despite Stimulus, Data Shows The Government May Be Spending Less, Not More -Mariyam Alavi
-NDTV According to the data available with the Controller General of Accounts, however, the central government's total spending fell from ₹ 14.9 lakh crore in April-September 2019 to ₹ 14.8 lakh crore in April-September 2020, a drop of almost 1 per cent. In a year when the government has announced multiple stimulus packages to revive India's covid-hit economy, the central government has spent less than the previous year, NDTV has found. The...
More »Hunger, nutrition are worse than before lockdown. PDS must be universalised -Dipa Sinha and Rajendran Narayanan
-The Indian Express All indications show that an economic revival will take some time — support is required during this period to at least prevent starvation. The effects of the lockdown and the resultant economic crisis continue to disproportionately impact the poor and informal sector workers. Since the lockdown, the Government of India (GoI) has announced relief packages under the Pradhan Mantri Gareeb Kalyan Yojana (PMGKY) and Atmanirbhar Bharat. However, numerous studies...
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