-TheWire.in From demonetisation to GST and now the lockdown, the government's policies towards the 'unorganised sector' has spelt nothing but rack and ruin. What has the BJP-led government of Narendra Modi done since 2014 that does not suggest it wishes to destroy the informal economy, also known as the unorganised sector? While the ‘unorganised’ informal economy now accounts for roughly half of India’s GDP – and is shrinking relative to the share of...
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Recent reports predict gloomy days ahead for the overall economy
Most reports and studies by official agencies, international think tanks and private entities indicate the cataclysmic impact of the coronavirus pandemic on the economy and society. They anticipate that lockdowns imposed by various countries across the globe to reduce the exponential diffusion of COVID-19 (i.e. for flattening the curve by social distancing and quarantines) would adversely affect economic growth and disrupt supply chains in most sectors, on top of causing...
More »Economy infected: Task force has a prescription, concerns mount over delay -P Vaidyanathan Iyer
-The Indian Express Over the last one month, the government pulled out all stops to contain the spread of the Covid-19. During this period, economic ministries including Commerce and Industry, Heavy Industries, Road Transport, Civil Aviation, Pharmaceuticals and Consumer Affairs met and heard stakeholders. With Covid-19 wreaking havoc in Indian financial markets and global research and rating firms marking down GDP growth estimates by up to 100 basis points, Prime Minister Narendra...
More »Problematic revisions: We need fewer, quicker economic growth estimates -AK Bhattacharya
-Business Standard The CSO releases as many as 6 estimates of India's annual economic output growth; believe it or not, these estimates for the same year's economic output are released over a period of three years! When the Central Statistics Office (CSO) declared India’s gross domestic product (GDP) growth figure for 2016-17 on January 6, 2017, economic policy makers in the Narendra Modi government were disappointed. The GDP growth figure was only...
More »India adrift, optimism hard to sustain -Jean Drèze and Amartya Sen
-The Telegraph Prospects of the future damaged by failing development policy to collapsing democracy The recent estimate of GDP growth for the third quarter of 2019-20, at around 4.7 per cent, has prompted a predictable sense of gloom. However, even the 4.7 per cent estimate is deceptive, since in per-capita terms, the corresponding figure would be just above 3 per cent. This, sadly, is no more than half the growth rate of...
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