-The Hindu The UN Secretary General’s recent advice to India amounts to asking for its virtual de-industrialisation and stagnation The UN Secretary General António Guterres’s call for India to give up coal immediately and reduce emissions by 45% by 2030 is a call to de-industrialise the country and abandon the population to a permanent low-development trap. Piling on the pressure In an extraordinary move in climate diplomacy, Mr. Guterres, delivering the Darbari Seth Memorial...
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India should opt for income support so that pandemic does not turn into a financial crisis -Jahangir Aziz
-The Indian Express What is needed is ample income support for households and firms now so that the recovery is not hamstrung by excessively damaged balance sheets Even a cursory reading of Brazil’s recent history will confirm that the adoption of the all-encompassing cap on government spending in late 2016 was critical in rescuing the economy from the crisis of 2014-16. After riding the commodity boom of the 2000s, economic mismanagement and a...
More »An economic disaster foretold -Amit Bhaduri and Deepankar Basu
-The Hindu The reported contraction of the economy is likely an underestimate for reasons of omission and commission According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP contracted by a whopping 23.9% between April-June 2019 and April-June 2020. This magnitude of real GDP decline is unprecedented since the country started publishing quarterly GDP estimates in 1996. This...
More »Impact of Covid-19 Pandemic on the Indian Economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar
-National Institute of Advanced Studies (NIAS), Bengaluru, Working Paper: NIAS/NSE/EEP/U/WP/18/2020 The paper entitled Impact of Covid-19 Pandemic on the Indian Economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar provides an analysis of the economic impact of the Covid-19 pandemic in India. First, using secondary data published by various sources, the paper attempts to document the trajectory of the infections and the lockdown in India. Secondly, the paper explains the...
More »Rural distress looms: dip in crop prices, remittances; rising Covid cases -Aanchal Magazine, Sunny Verma and Anil Sasi
-The Indian Express While the over 3% agriculture growth in the first quarter factored in strong Rabi procurement, with high-price realisations getting reflected in the output numbers, fresh data from mandis indicate a slide in the prices of the intercrop produce — horticulture, milk and poultry etc. The rural sector may have held out the only sliver of hope amid the broader collapse in the first-quarter GDP numbers but there are fresh...
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