-PTI The first meeting of the SCES is scheduled on January 6, 2020 The statistics ministry has constituted a 28 member Standing Committee on Statistics (SCES) chaired by former Chief Statistician Pronab Sen to improve quality of data amid criticism of the government over political interference. “The first meeting of the SCES is scheduled on January 6, 2020. The agenda would be very broad based. We will come to know about that only...
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Problem with figures
-The Indian Express Government does well to constitute panel on economic statistics, and even better to include critics on it The Narendra Modi government deserves credit for constituting a new Standing Committee on Economic Statistics “to review the extant framework relating to data sources, indicators, concepts/definitions and other issues” connected with measurement of economic activity. Significantly, the panel is headed by the former chief statistician of India, Pronab Sen, and has at...
More »Politics of exclusion and disenfranchisement is hurting investment and India's cooperative spirit -Kaushik Basu
-The Indian Express What economists do not like to dwell on and what Karl Polanyi had noted a long time ago is that the economy is ultimately embedded in society, institutions and politics. When these are damaged, the economy begins to stall. With India’s deep political troubles, and protest marches breaking out all over the country, it may seem odd to be writing on economics. Yet, it would also be wrong not...
More »India may have lost Rs 2.8 lakh crore due to economic slowdown -Sunitha Natti
-The New Indian Express According to the Organisation for OECD, India’s potential gross domestic product is pegged at seven per cent, while other forecasts show growth barely humming at five per cent. HYDERABAD: What is India’s lost economic activity due to the ongoing slowdown? It is difficult to determine, but according to one estimate, it could be as much as Rs 2.8 lakh crore. Often, economic growth or decline is measured in percentages,...
More »Can a cut in tax rates pull the economy out of the woods?
-The Indian Express A cut in income tax will naturally mean a loss of revenue for the government, which will impact the fiscal deficit. The quantum of the revenue loss will depend on how deep the tax cut is. Finance Minister Nirmala Sitharaman has said that the government is considering cutting tax rates to revive growth. “Tax rate cut is one among the many things we are thinking to boost growth,” Sitharaman...
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