-TheWire.in Significant downward revision in GDP Growth during Q1 and Q2 of FY19 has been one of the key reasons for boosting GDP Growth in the corresponding quarters of FY'20. India’s gross domestic product (GDP) estimation by the Central Statistics Office (CSO) has been a story of upward and downward revisions in the last year. While the GDP for Q3-FY’20 is estimated at 4.7%, its slowest pace in almost seven years, what is...
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Car sales fell by over 8% last month compared to January 2019: SIAM
-IANS According to Rajan Wadhera, President of industry body Society of Indian Automobile Manufacturers (SIAM), which gives out the auto sales numbers, the overall slump in vehicle sales in India was due to the 'rising cost of vehicle ownership and slower growth in GDP'. Cheaper lending rates in the country along with the government's booster via tax cuts seem to have had little effect on vehicle sales in January, with car sales...
More »Economic Survey: Focus on wealth of big business than wealth and health of nation -Surajit Das
-Newsclick.in The Economic Survey 2019-20 indicates that the government’s broad policy direction will remain the same -- of neglecting the social sector and serving the interests of the big businesses. This year’s Economic Survey begins with emphasising the importance of wealth of nations (inspired by Adam Smith) and depicts long-term contributions of the US, China, India and various other countries in world GDP (gross domestic product). The shares of China and India...
More »Fashioning the framework of a New India -Indira Hirway
-The Hindu A major solution to the present economic crisis is to go in for inclusive growth; it also means shared prosperity The Indian economy is going through a severe crisis: a slowdown as well as a structural crisis. In the words of the former Chief Economic Adviser, Arvind Subramanian, it is headed towards the ICU. Almost all sectors of the economy are in decline: the rate of growth of the national...
More »MGNREGA allocation is way off the mark to uplift the rural economy & address economic downturn, say Right to Work activists
The Union Budget 2020-21, which was presented by the Finance Minister Smt. Nirmala Sitharaman on 1st February, 2020 has failed to impress civil society activists and farmers' rights groups (click here and here). Through their press releases and notes, members of CSOs were demanding as well as suggesting the Union Government for hiking the budgetary allocation for schemes like Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and Pradhan Mantri...
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