-Hindustan Times Most forecasters, institutional and private, have revised their GDP estimates for both 2020-21 and 2021-22. India imposed one of the world’s most stringent lockdowns -- it went on for 68 days -- starting on March 25 to curb the spread of Covid-19 infections. It was this lockdown which triggered a record contraction of 24% in India’s gross domestic product (GDP) in the first quarter of fiscal 2020-21. The economic shock...
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A Market gone awry -CP Chandrasekhar and Jayati Ghosh
-The Hindu Business Line/ NetworkIdeas.org It defies all logic. As expected, once the implications of the Covid-19 contagion began to be absorbed, the BSE Sensex lost 37 per cent in value, falling from a level just above 41,000 on February 19, 2020, to just below 26,000 on 23 March 2000 (Chart 1). That was the day when the nationwide lockdown was declared and three days before the first of the government’s...
More »A Budget that fails to address the hunger pandemic -Dipa Sinha
-The Hindu In a year of economic slowdown and growing inequality, we have been presented with a stingy Budget that fails to ensure the bare necessities for all While the country continues to grapple with the health and economic crisis as a result of COVID-19, widespread hunger and food insecurity is a silent emergency that has not been getting sufficient attention. Unfortunately, the Union Budget also does not include any significant measures...
More »Despite some hits, the Budget has crucial misses -R Nagaraj
-The Hindu That there is no targeted employment programme to alleviate the immediate crisis is a matter of concern The Budget, at its simplest, is the government’s tentative income and expenditure statement. Like all financial statements, the devil lies in the fine print. At its broadest, the Budget is a pious statement of the government’s policy and ideological intentions. It is also the government’s statement of how it seeks to tackle the...
More »Union Budget 2021: Slashed funds for NREGA, Poshan Abhiyan 2.0, elderly pensions reflect poorly on Centre -Swati Narayan
-Firstpost.com The biggest hoodwink is the starved Poshan Abhiyan 2.0, which though merges the Supplementary Nutrition Programme and the Poshan Abhiyan, has been allocated an amount less than what was prescribed for Anganwadi services in 2020 In a post-truth world, the plain cold statistics in the fine print of the Union Budget 2021 often reveal more than the Union Finance Minister Nirmala Sitharaman's speech. The budget for NREGA labourers has been slashed despite...
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