-PTI/ The Hindu Business Line Time for bureaucracy to take meaningful action, says former RBI governor Terming the 23.9 per cent fall in economic growth in June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding unfortunately, after an initial burst of activity, it seems to have retreated...
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Reversing the economic reversal -Pulapre Balakrishnan
-Hindustan Times Don’t bank on V-shaped recovery. The Centre must discard dogmas, enhance investment News of a contraction of almost 24% of the gross domestic product (GDP) in the first quarter of this year would have come as a shock to every responsible citizen. The degree of contraction exceeds that in any major world economy. This is not surprising as India combined the world’s most stringent lockdown with the weakest economic stimulus. For...
More »India’s descent into stepwells of growth -Kaushik Basu
-Livemint.com * Poor handling of the pandemic threatens to derail our competitive advantage in the global economy * India’s economy is well-positioned in IT and outsourcing; health and pharma; and higher education and research, which are sectors expected to be leading drivers of global growth NEW YORK: India’s economy is in a downward spiral. The Economist Intelligence Unit just lowered the forecast for India’s growth in the coming year from -5.8% to -8.5%....
More »Consumption shock severe, economic recovery will take longer, poorest hit the hardest: RBI -George Mathew
-The Indian Express “Private consumption has lost its discretionary elements across the board, particularly transport services, hospitality, recreation and cultural activities,” the RBI said in its Annual Report for 2019-20. The Reserve Bank of India (RBI) Tuesday indicated that the economy which is expected to contract for the first time ever, will take “quite some time to mend and regain” the pre-Covid momentum, as the “shock to consumption is severe” and the...
More »Why farmers are not cheering their exceptional feat this kharif season -Richard Mahapatra
-Down to Earth Highest rice acreage in six years, more farmers in farms, a bounty monsoon and an expected bumper harvest don't enthuse farmers as their earning dips It is a piece of news that everybody would love to cheer about, except those who made this possible. The current kharif season is exceptional. In comparison to last year, over eight million more hectares of farms are under cultivation this season. There are more...
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