-ThePrint.in K-shaped recovery means the growing gap between ‘winners and losers’. An example in India is the stock market being healthy while millions have lost their jobs. Amidst the flood of commentary that followed the finding that the world’s fastest-growing large economy had become its fastest-shrinking one, an observation that stood out was that India’s growth potential had dropped from 6 per cent to 5 per cent. Now, it has been obvious...
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What GDP numbers didn’t tell -Surajit Das
-TelanganaToday.in Pvt consumption and investment (90% of GDP) have shrunk 35% and revised numbers could present a scarier picture On 31st August, the National Statistical Office (NSO) came out with the provisional estimate of the GDP. According to this, the GDP shrunk by 23.9% during April, May and June as compared with the first quarter of the last financial year (2019-20). Aggregate private final consumption expenditure contracted 26.7% and investment (including gross...
More »A crisis without villains -Harish Damodaran
-The Indian Express Current economic contraction is different from previous ones. Governments should borrow and spend India has never experienced negative economic growth since 1979-80, and before that in 1972-73, 1965-66 and 1957-58. All these were drought years with 1957-58 also registering a significant balance of payments (BOP) deterioration and 1979-80 witnessing the second global oil shock following the Iranian Revolution. The real GDP decline of 5-10 per cent that various agencies are...
More »Centre's 'Surplus' Rice to Ethanol Move Goes Back to a March Meeting Chaired by Modi -Kabir Agarwal
-TheWire.in The decision, which has been severely criticised as it comes in the wake of rising hunger in the country, was defended by the government as being needed to manufacture alcohol-based hand sanitisers. New Delhi: A high-level meeting chaired by Prime Minister Narendra Modi on March 3, 2020 all but cleared the way for the government’s much-criticised decision to convert ‘surplus’ rice to ethanol, information obtained by The Wire via the Right...
More »Foodgrain stocks fall marginally despite PMGKAY -Harish Damodaran
-The Indian Express For July 1, the normative minimum stocks to run the targeted public distribution system (TPDS) and other welfare schemes, plus maintain a strategic reserve over and above that, are 27.58 mt of wheat and 13.54 mt of rice. Despite efforts at disposing of surplus foodgrains – including by distributing these free under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) and a special scheme for migrant labourers returning to...
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