-Livemint.com * GDP estimates are based on accepted methodologies, says government * Subramanian made the claims in his latest working paper published on the Harvard University website New Delhi: India’s statistics ministry likely underestimated the impact of demonetization and the rollout of the goods and services tax (GST) on economic activity, leading to an overestimation of gross domestic product (GDP) figures, the finance ministry’s former chief economic adviser, Arvind Subramanian, has said. On 31...

-The Indian Express While official estimates have pegged average annual growth at around 7 per cent during this period, actual GDP growth is likely to have been lower, at around 4.5 per cent, says Subramanian New Delhi: In the midst of a raging controversy over India’s economic growth under the new GDP series, former Chief Economic Adviser Arvind Subramanian has concluded that the country’s growth has been overestimated by around 2.5...

-Livemint.com * Of the total estimated revenue losses, approximately $4 billion was due to export misinvoicing and approximately $9 billion due to import misinvoicing * Almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from China New Delhi: India lost a staggering $13 billion, over Rs.90,000 crore, to trade misinvoicing, equivalent to 5.5% of the value of the country's total revenue...

-Hindustan Times IMD on June 1 said that this year the monsoon rainfall is likely to be “normal” at 96% of the long period average (LPA), and indicated that it would be evenly spread that could bring some respite to people suffering from dry weather conditions. New Delhi/ Pune/ Bhopal: Around 43% of the country is staring at a drought, government reports released in the past week show. By June 15, it...

-Down to Earth Devansh Mehta believes that people can be sensitised through incentives, be it as small as mobile top-ups In 2016, when Devansh Mehta was asked to sensitise tribal people about the Forest Rights Act, 2006 (FRA), he came up with a simple solution: “Give them an incentive. They will come on their own.” Raipur-based non-profit CGnet Swara, where Mehta heads sustainability initiatives, implemented his proposal on an experimental basis and...