-Down to Earth Exceptional growth in agriculture and acreage in kharif season precipitate a crisis like never before for farmers In recent times, agriculture made headlines for all the wrong reasons: Farmers quitting cultivation; the sector turning into a perennial loss-making enterprise; and the country’s official policy to downsize the dependence on agriculture to reduce overall economic hardship among the poorest of the population. Agriculture’s fast-declining economic importance reached such an extent...
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An Expert Explains: Decoding GDP contraction --Neelkanth Mishra
-The Indian Express The contraction seen in first-quarter GDP data is severe, but not unexpected. What should be done — or not done – at the level of govt policy so that the economy gets a chance to rebound as quickly as possible? * How should one read the first-quarter GDP data and the contraction by 23.9%? What signal does it offer for the future? And does it give any idea of...
More »Indian economy is heading for a K-shaped recovery and it won’t be a pretty sight -TN Ninan
-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...
More »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 »India must aim for wider consumer base, direct public spending accordingly -Suvodeep Rakshit and Avijit Puri
-The Indian Express To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative and judicial hurdles. India entered the pandemic with declining growth and limited scope for a conventional and large fiscal stimulus. We had noted in an article (IE, January 20, ‘Limited scope...
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