-The Hindu After India’s economy collapsed in the first quarter of 2020-21 following the nationwide lockdown imposed to curb the COVID-19 pandemic, some economic indicators from September and October, from power consumption to GST collections, suggest that things are improving. But is this a sustainable recovery under way, or just an expression of pent-up demand combined with India’s festive-season spending? In a conversation moderated by Vikas Dhoot, Naushad Forbes and M....
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India must aim for wider consumer base, direct public spending accordingly -Suvodeep Rakshit and Avijit Puri
-The Indian Express To achieve economic growth of 7-8 per cent, the government needs to start addressing some of the traditional sore points such as the large infrastructure deficit, the weak financial sector, archaic land and labour laws, and the administrative and judicial hurdles. India entered the pandemic with declining growth and limited scope for a conventional and large fiscal stimulus. We had noted in an article (IE, January 20, ‘Limited scope...
More »Economy: steepest GDP decline on record -R Suryamurthy
-The Telegraph The last time that India faced a full-year contraction in its real GDP was in 1980 The Indian economy shrank by 23.9 per cent in the first quarter ended June 30, signalling that the road to recovery would be more arduous than most economists have projected. It marks the steepest decline since the National Statistical Office (NSO) started quarterly measurement of gross domestic product (GDP) in 1996. The slide in real GDP...
More »Dormant state -Renu Kohli
-The Telegraph Why are animal spirits in quarantine? Animal spirits, the primordial driver of growth that is unquantifiable, are once more in the spotlight. The current context is the dire growth outlook from the Covid-19 impact, future prospects and how to improve these. However, the absence of animal spirits has been felt and commented upon longer than that. It can be traced as far back as the 2012-13 slowdown, or the shortfall...
More »What sold or didn’t in lockdown: Bread, jam up, ice-cream down -Pranav Mukul and Anil Sasi
-The Indian Express While the two-month national lockdown generally dampened spending, fast-moving consumer goods (FMCG) companies saw certain unusual trends in demand in certain product categories, company executives said. As India remained locked down in April and May to control the spread of the novel coronavirus, people bought more bread, cheese, coffee, and jams — but less fruity cakes. They expectedly bought a lot of hand sanitisers — but not so expectedly,...
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