-The Hindu India’s GDP growth continues to be powered by consumption, not investments A question being raised about the GDP estimates for the first quarter of this year (April-June) is: How should 8.2% GDP growth be interpreted in, or reconciled with, the overall context of some of the pronounced trends in the economy? These include the depreciating rupee, rising bank bad loans, or non-performing assets (NPAs), a trade deficit that has shot...
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Why are rural wages crawling when farm GDP growth is galloping -Gaurav Choudhury
-MoneyControl.com A continued property market slowdown and a vegetable glut may have pushed landless labourers back to villages, seeking daily jobs and depressing wage growth India’s gross domestic product (GDP) growth looks set to cruise along the 7-7.5 percent trail, partly aided by steady farm incomes and record harvests on the back of plentiful summer rains over the last three years. But it may still be early to open the bubbly yet. The...
More »GDP Growth Rate: A Crown of Thorns -Subodh Varma
-Newsclick.in It is bizarre that the recent GDP numbers are being celebrated even as there are no jobs, workers wages are frozen and farmers are demanding better prices. There is much celebration in government circles and, of course, in the mainstream media, that in the first quarter of 2018-19 (April to June 2018), the GDP growth rate picked up to touch 8.2% compared with the same quarter last year (April to June...
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 »NR Bhanumurthy, professor of economics at the National Institute of Public Finance and Policy (NIPFP) and author of the series presented in a report to the National Statistical Commission, interviewed by Abhishek Waghmare (Business Standard)
-Business Standard "Under the new GDP series, there has been reallocation of a few items from one sector to another, from services to manufacturing sectors" The back series data of GDP released recently by a panel of experts has evoked sharp reactions among political circles and experts. N R Bhanumurthy, professor of economics at the National Institute of Public Finance and Policy, and the author of the series, presented in a report...
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