-The Hindu The pursuit of full employment of labour cannot primarily rely on domestic private investment, much less FDI. Only public investment will steady us in the long run. We are increasingly told that the inflow of capital — particularly the foreign direct investment (FDI) variety — increases employment levels and contributes to economic growth. In a rare interview given to The Wall Street Journal in May, Prime Minister Narendra Modi reinforced...
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The gap between rich and poor States -Praveen Chakravarty & Vivek Dehejia
-The Hindu India is the only large country that is experiencing an economic divergence among its States. “Real freedom lies in economic freedom,” said Tamil Nadu Chief Minister Jayalalithaa, in her Independence Day speech this year. The subtle reference here was to the Goods and Services Tax (GST) Bill, which her party, the All India Anna Dravida Munnetra Kazhagam, did not endorse, the only political party to do so in Parliament, on...
More »Keep a watch on food inflation
-The Hindu The latest inflation readings based on the Wholesale Price Index and the Consumer Price Index are a cause for concern. While the annual gain in wholesale prices hit a 23-month high of 3.55 per cent in July, retail inflation quickened past the Centre’s new Monetary Policy Framework’s upper limit for tolerance to 6.07 per cent. Food costs — a key component in both indices — were the main culprit....
More »IMF calls for budgeting to bridge gender gap -Timsy Jaipuria
-Hindustan Times The International Monetary Fund (IMF) has called on governments to incorporate pro-women fiscal measures in budgets, so as to bridge the gender gap. In its first-ever global review of the use of tax and spending policies to promote gender equality, IMF has found that financial policies in Union and state budgets have helped gender parity. Highlighting changes across 80 countries, the IMF study, Tackling Gender Inequality, says Fiscal Policy efforts were...
More »Double-whammy: inflation is rising, factory output is falling
-The Hindu Business Line June IIP up, but manufacturing grows just 0.9%; retail inflation hits 6.07% in July New Delhi: A barely growing manufacturing sector and a surging inflation dealt a double-whammy to the economy. Retail inflation surged to 6.07 per cent in July, overshooting the government and central bank’s comfort zone of 5 per cent, even as manufacturing growth remained almost standstill at 0.9 per cent in June. Yet, the Index of Industrial...
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