-OutlookIndia.com The principal economic advisor is confident of achieving GDP growth promised by finance minister Nirmala Sitharaman in the budget but is also cautious that some external factors can derail the projections Automobiles and two-wheelers are seeing muted sales not because of a low-demand situation afflicting the sector, but because there is a supply-side issue about chips, principal economic advisor to the government Sanjeev Sanyal told Outlook Business. He also said that...
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A Pandemic and a Union Budget: A Study in Three Acts -Suyash Rai
-TheWire.in How did the onset of the pandemic affect already-struggling budget management, how did the second wave affect the measures taken in Budget 2021-22 and what should we look for in the upcoming Budget? The latest estimates suggest that India’s economic output in 2021-22 is likely to, once again, reach the level it was at in 2019-20. If this happens, the pandemic would have delayed India’s journey to prosperity by two years....
More »Indian Economy is in a Vicious Spiral; Only Way Out is by Empowering Working People -Prabhat Patnaik
-Newsclick.in India needs a larger government expenditure on transfers to the working people. For such larger expenditure, resources have to be raised through greatly increased taxation of the rich- a reversal of the perverse fiscal strategy the government has pursued so far. The Indian economy is currently caught in a vicious spiral of inflation, stagnation and a widening of the fiscal deficit. And this spiral is set to become even more vicious...
More »Look out for the FY22 revised estimates -Madan Sabnavis
-Financial Express This is of special interest as FY22 was challenging on several fronts, needing govt intervention Budget FY23 will, of course, be important for the content and its take on the economy, given the Union government has to necessarily take a call on how it thinks the third wave has affected the economy and accordingly make provisions in the Budget. But, also important will be the revised numbers for the different estimates...
More »NSO estimates FY22 GDP growth at 9.2%
-The Hindu COVID-19 could impact final numbers, says the National Statistical Office. India’s gross domestic product (GDP) is expected to grow by 9.2% in the current financial year following last fiscal’s 7.3% contraction, the National Statistical Office (NSO) said in its first advance estimates of economic output released on Friday, amid concerns over the likely impact of a third wave of the COVID pandemic. The NSO, however, made clear that these were “early...
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