-The Hindu ‘Today’s 4.5% is impressive as size of the economy now is five times of 1980 levels’ New Delhi: India may have to revise downwards what is considered its “potential” rate of growth from 7-8% to bring expectations more in line with reality, former Chief Economic Adviser (CEA) Arvind Subramanian has argued in a paper. This paper comes as a follow-up to the one Mr. Subramanian published last month, in which he...
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Every number in Budget is authentic, says Sitharaman amid row over disparity in GDP figures
-The Indian Express The Economic Survey, released by Chief Economic Advisor S Krishnamurathy a day before the Union Budget, pegged the nominal GDP Growth at 12 per cent while the budget projected it at 11 per cent. New Delhi: Finance Minister Nirmala Sitharaman Wednesday dismissed speculations surrounding the GDP figures quoted in the Union Budget, saying “every number is authentic”. Replying to the debate on her maiden Union Budget in the Lok...
More »Debate on Budget: Opposition targets govt on NREGS allocation, unemployment -Liz Mathew & Shalini Nair
-The Indian Express Opposition members said it has no roadmap and does not address the serious issues of agrarian crisis and unemployment. TARGETING THE Union Budget in the Lok Sabha on Tuesday, Opposition members said it has no roadmap and does not address the serious issues of agrarian crisis and unemployment. The ruling BJP members countered that the Budget has “everything to take the country to a $5 trillion economy in...
More »Getting the GDP numbers right -S Mahendra Dev
-The Indian Express Estimates are not perfect, but the process is revised and fine-tuned. Former Chief Economic Adviser Arvind Subramanian’s recent paper claims that the Indian GDP Growth may have been overestimated by 2.5 per cent per annum between the period 2011-12 and 2016-17. A note by Prime Minister’s Economic Advisory Council (PMEAC) rejects the methodology, arguments and conclusions of Subramanian’s paper. A study done at our institute by Ashima Goyal...
More »More of the dismal same -Prabhat Patnaik
-The Indian Express The budget needed to break new ground, provide a thrust to a slowing economy. This budget lacks innovation. Economics has never been a strong point of the NDA government. Its only two major economic forays, demonetisation and the GST, have both turned out to be pretty disastrous. It was futile, therefore, to expect much from the Union Budget for 2019-20. Even so, one is surprised by the budget’s...
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