-The Hindu The over-reliance on the organised sector for official GDP data is causing a gross miscalculation. During the global financial crisis, it was said that the experts were behind the curve. The International Monetary Fund (IMF) and financial sector experts continued to predict till October 2008 that the Global Economy would grow rather than shrink. They were way off the mark since the Global Economy was rapidly slipping into a great...
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Merchandise exports affected by global slowdown but not export of services
Is it the case that the global economic downturn instead of shrinking domestic demand has affected our economy more? If the aforesaid statement is true, then ideally the trade related data should indicate improvement in our imports and deceleration in the country's exports. However, that is not the case and we get a mixed picture. A press release by the Ministry of Commerce & Industry dated 13th September, 2019 shows...
More »IMF's 'Phantom FDI' destinations and the India connection -Sai Manish
-Business Standard IMF study says investments in empty corporate shells in these nations by companies' hints at tax evasion New Delhi: In a recently released paper, the International Monetary Fund (IMF) has drawn the world’s attention to the rising menace of ‘Phantom foreign direct investment (FDI)’, defined as investment flows that pass through empty corporate shells that have no real business activity, with the intention to avoid paying taxes in their host...
More »Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
More »Cyclical or Structural -- What is the nature of India's economic slowdown? -Nikita Vashisht
-TheWire.in Some analysts believe that a slowdown in the GDP growth for the fourth consecutive year, from 8.2% in FY17 to around 6.5% in FY20 (E), makes it a case of structural slowdown. India’s real or inflation-adjusted gross domestic product (GDP) grew at 5% in the June 2019 quarter of financial year 2019-20 (Q1FY20), the slowest growth in six years (25 quarters). In nominal terms, the growth stood at 7.99%, the lowest...
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