-The Hindu The latest GDP data show that there has been an undeniable decline in the growth rate over seven consecutive quarters On February 28, as per its release calendar, the National Statistical Office (NSO) put out the third quarter gross domestic product (GDP) estimates, that is, for October-December 2020. It showed that domestic output grew at 4.7% at constant prices (that is, net of inflation), compared to the same period the...
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Why capping withdrawals from Yes Bank is a terrible idea - P Vaidyanathan Iyer
-The Indian Express Capping withdrawals for Yes Bank depositors is foolish for two specific reasons, particularly when the economy is floundering with growth rates of around 5%. On March 5, the RBI imposed a cap of Rs 50,000 on withdrawals by Yes Bank depositors. A day later, Finance Minister Nirmala Sitharaman assured depositors that their money was safe. In the days and weeks running up to the RBI decision to supersede the Yes...
More »Government, RBI didn’t bother to read the balance sheet of Yes Bank, says Chidambaram -Sobhana K Nair
-The Hindu It is only part of mismanagement of financial institutions under BJP government watch, says ex-Finance Minister The government and the RBI didn’t bother to read the balance sheet of the Yes Bank, former Finance Minister P. Chidambaram said pointing out to the unusual growth in the loan book at the rate of 35% a year between March 2014 to March 2019. The loan book registered registered a spike especially in 2016-17...
More »Disabled and extremely poor -Vani S Kulkarni & Raghav Gaiha
-The Hindu There is a link between disability, loss of employment and impoverishment in rural India Of the world’s population, 15% live with some form of disability. Are disabilities associated with economic hardships through loss of employment and consequent impoverishment in rural India? For lack of more recent data (the NSS does not cover disabilities) we tried to answer this question by using the two rounds of the India Human Development Survey...
More »Domestic demand must play a greater role in India’s growth story -Jahangir Aziz
-The Indian Express Policymakers need to stop thinking about India as a perennially supply-constrained economy focusing almost all policies and reforms to easing these constraints. Instead, it is time to let domestic demand play a greater role in India’s growth story. India’s fourth quarter GDP growth (calendar year 2019) printed another sub-5 per cent growth rate. It would have been lower had it not been for the large downward revisions to previous...
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