-The Hindu In contrast to its pronouncements, the government’s own data suggest the economy is in a deep hole Prime Minister Narendra Modi, in his Independence Day address, spoke triumphantly about how demonetisation drove ?3 lakh crore of unaccounted money into the banking system. The Reserve Bank of India (RBI) is still counting old notes, and unaccounted money cases are ongoing. Thus, this number is at best a guesstimate, and cannot be...
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Economy red flags go up -Jayanta Roy Chowdhury and R Suryamurthy
-The Telegraph New Delhi: India's growth juggernaut has started to lose steam. In the mid-year Economic Survey, chief economic adviser Arvind Subramanian flagged big risks to economic growth and fiscal targets while asserting that the country had entered a "new phase of relatively low, possibly very low, inflation". In the first volume of the survey published in January, the government had forecast GDP growth in the range of 6.75 to 7.5 per cent...
More »Are farmer movements in India changing course? -Sayantan Bera
-Livemint.com Unlike the dhoti-clad, topi-wearing quintessential ‘kisan’, the new Indian farmer is vocal and tech-savvy New Delhi: In the winter of 1988 when the feisty farmer leader from Uttar Pradesh, Mahendra Singh Tikait, laid siege to Delhi with thousands of cultivators and their cattle literally creating a mess of the boat club lawns, agriculture’s share in India’s gross domestic product (GDP) was about 30%. About three decades later, the farm sector’s share in...
More »Farm crisis: Landless may be better off, but landed are worse off; here is what you should know of rural distress puzzle -Pranjul Bhandari
-The Financial Express The state of India’s rural economy is puzzling. There is enough evidence to support both opposing statements: one, that the rural economy has improved, and two, that the rural economy is in the doldrums. Some macro indicators have improved, though. The rural unemployment rate has been falling, while rural wages have been rising, particularly on a real basis. Alongside, indicators such as two-wheeler sales and consumer non-durables production...
More »Retail inflation dips to record low in June, IIP slows in May
-The Times of India NEW DELHI: Retail inflation dipped to a record low in June on the back of sliding food prices, while industrial output growth slowed in May as manufacturing remained sluggish, mounting pressure on the RBI to cut interest rates when it reviews monetary policy on August 2. Data released by the Central Statistics Office (CSO) on Wednesday showed retail inflation, as measured by the consumer price index (CPI), rose...
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