-The Hindu The government has failed to heed recommendations made by economists and bureaucrats on turnaround measures One of the visitors to pay a courtesy call on Prime Minister Narendra Modi after his re-election this summer was a former Secretary to the Government of India holding a high-profile constitutional office. During the conversation, the Prime Minister asked: “Arthvyavastha ka kya karna chahiye? (What should be done about the economy?)” The former bureaucrat ,...

-The Hindu Stimulus measure to link pay to consumer price index with annual revision. Staring at a slump in rural demand and a slowdown in the rural economy, the Centre plans to inject more money into the UPA’s flagship Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme by linking wages under the Act to an updated inflation index, which will be revised annually. It hopes this will increase wages, thus increasing...

-PTI economists at State Bank Research also warned that any attempt to trim government spending to maintain the fiscal numbers will be severely detrimental to growth. Lose-monetary policy alone cannot arrest the deepening slump, instead government must take demand-boosting measures, especially in rural areas, by frontloading expenditure primarily through the national rural employment scheme, says a report. economists at State Bank Research Monday also warned that any attempt to trim government spending to...

-CaravanMagazine.in In the budget unveiled in July, the finance minister Nirmala Sitharaman ambitiously claimed that India’s economy would hit $5 trillion by 2025. In the weeks that followed, the Central Statistics Office revealed that the gross domestic product growth rate for the April–June quarter fell to a six-year low of five percent; the Reserve Bank of India cleared a surplus transfer of Rs 1.76 lakh crore to the union government; and...

-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...