-The Hindu Business Line Nominal income already doubles every 6 years; real income will take 16 years Nearly a year ago, Prime Minister Narendra Modi unveiled his dream of doubling farmers’ incomes by 2022. But how viable is this promise? For one, there is ambiguity on the number the Centre is targeting. Data on farm income is not released at regular intervals. A survey of the National Sample Survey Organisation comes once in...
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Salt to the wound -Prabhat Patnaik
-The Indian Express Government could have undone the damage of demonetisation through the budget. The opportunity has been missed in deference to the whims of global finance. Since 97 per cent of the value of demonetised currency has returned to the banks, causing, contrary to the government’s expectations, very little extinction of currency, it is obvious that demonetisation has totally failed to achieve its purported objective of denting the black economy. It...
More »Jaitley's Tax Argument Isn't a Good Indicator of India's Economic Health -Suyash Rai
-TheWire.in Using tax collection numbers as signifiers of robust economic activity may be highly optimistic. One of the most interesting questions in Indian macroeconomics today is – how are we faring since late 2016? In this article, I seek to analyse data on tax revenues and obtain some clues about the performance of the economy. In a press release published on January 9, the central government reported the following increases in tax collections...
More »Towards less-cash agriculture: Well before demonetisation, low credit-driven model came up in Dewas -Vivian Fernandes
-The Financial Express In Madhya Pradesh’s tribal districts of Dewas and Khargone, the NGO, Samaj Pragati Sahayog, discourages cash transactions for agricultural inputs. The Interest rates are usurious and vary according to commodities. For fertiliser, it is dheda—loan for the stuff has to be repaid 1.5 times over by the end of the harvest season. For pesticides it is sawa, or 1.25 times. Even barter can be extortionate. One quintal of...
More »From plate to plough: Growth amidst gloom -Ashok Gulati
-The Indian Express Agriculture GDP bucks the trend of decline in other sectors. But can the government help the farmers sustain this growth? The first advanced estimates of GDP growth for the financial year 2016-2017 (FY17) show a marginal decline from 7.6 per cent last year to 7.1 per cent this year. Of the various sectors, gross value added at basic prices (2011-12), mining and quarrying is down from 7.4 per cent...
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