-Livemint.com Overall foodgrain output, however, rose marginally to 252.22 mt in FY16, farm ministry’s advance estimates show New Delhi: The crippling drought over the past year failed to impact India’s overall foodgrain production but led to the lowest production of pulses in six years, showed the fourth advance estimates released by the agriculture ministry on Tuesday. In fact, according to the ministry, foodgrain production rose marginally—from 252.02 million tonnes (mt) in 2014-15 to 252.22...

-Business Standard This policy involves providing products and services such as electricity and fertilisers at below-market prices New Delhi: While much of public discourse in India has tended to focus on expanding the current subsidy regime to help the poor, Vijay Joshi, economist at Oxford University, advocates shifting to a universal basic income, replacing all government subsidies with a single cash transfer to all citizens, providing them with a basic income guarantee. At...

-Livemint.com In the last decade, the rural constituent has emerged an important factor for overall private final consumption, which forms more than half (55-60% range) of India’s demand side GDP An above-average monsoon is commonly expected to be a key demand driver in 2016-17. Gross domestic product (GDP) forecasts for the year incorporate a revival in rural consumption—a segment that suffered severe setback from two successive years of adverse rainfall. In...

-Livemint.com It is not possible to provide ‘maximum governance’ with ‘minimum government’. We need ‘good government’ for ‘good governance’, says Deepak Nayyar The erstwhile Planning Commission closed down soon after Prime Minister Narendra Modi announced the decision on 15 August 2014. Its demise was attributable partly to the ideological belief that planning is passé in this age of markets and globalization and partly to its poor performance combined with growing irrelevance. The...

-Business Standard As economic growth came in at 7.9 per cent in the fourth quarter of 2015-16, many argue that much of it could be attributed to discrepancies. Chief Statistician of India T C A Anant dispels these notions. He tells Dilasha Seth and Indivjal Dhasmana that the principal method of calculating the gross domestic product (GDP) is by taking into account the production-side estimates and not an expenditure one. Edited...