-CBGA Blog India presented its latest Union Budget (for FY 2022 -23) in early February amid much hope, as the country is still reeling from the aftermath of Covid-19 pandemic, which has lasted for two years. To deal with the pandemic induced socio-economic crisis, countries across the world have been announcing policy measures outside of their annual budgets. The Indian government, too, made many such announcements, but given the scale of the...
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Should the government loosen its purse strings? -Prashanth Perumal
-The Hindu As inflation is driven by supply-side factors, tax policy can be used to cushion its impact With the Union Budget 10 days away, many economic observers are now focused on what support the Centre can offer the economy, which is still struggling to recover from the pandemic. Some analysts believe that the government must keep its spending in check to prevent price rise from getting out of control. Retail inflation...
More »GDP Numbers: What’s Wrong With How India Measures Manufacturing Output Data -Kaushal Shroff
-TheWire.in A claim of an 8.4% real GDP growth rate has little relevance even as rural India battles plummeting wage levels, depleted incomes and widespread unemployment. With the release of the GDP figures for the quarter ending September, the government machinery has been in full swing advancing the narrative that economic growth is indeed back on track. However, sorely missing from these narratives is the inconvenient factoid on the currently dismal state of...
More »Richest 20% facing more inflation than poorest 20%: Crisil
-PTI/ The Hindu The Crisil argument is based on the fact that the burden of inflation varies across different income groups, as the share of spending on food, fuel, and core categories differ across classes Extrapolating the retail inflation print for October, which inched up on-month to 4.5% from 4.3% in September, but steeply declined from 7.6% on-year, Crisil says the richest 20% of the population, who pay more on non-food or...
More »Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey
-ThePrint.in RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority. The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply. Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the...
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