-CaravanMagazine.in In May 2020, 10 central trade unions jointly wrote twice to Guy Ryder, the director general of the International Labour Organisation, drawing attention to the plight of migrant workers during the COVID-19 crisis as well as the government’s dilution and suspension of labour laws. In May, several states—including Uttar Pradesh, Madhya Pradesh and Gujarat—introduced sweeping changes in labour laws such as increasing the working hours from eight to 12. The...
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There’s Nothing to Celebrate About Q2 GDP Estimates -Prabhat Patmaik
-Newsclick.in The statistics are dubious because there is a substantial increase in GDP under the head “discrepancies”, which is synonymous with errors and omissions. It is ironic that government spokespersons should exhibit so much euphoria over the second quarter (July-September) gross domestic product (GDP) estimate, which shows a drop “only” of 7.5% compared with the second quarter 2019-20. The expectation had been that the drop would be larger, about 8 to 9%;...
More »Questionable data, little room for exuberance -R Nagaraj
-The Hindu Using the latest quarterly estimates to point to an economic rebound seems flawed; recovery is likely to remain modest The decline in the quarterly GDP growth rate, by 7.5% during July-September 2020 (FY 2020-21: Q2), compared to a 24% decline in the first quarter has raised expectations of a sharp economic recovery after the novel coronavirus pandemic and the national lockdown. But is such optimism justified? A tracker India’s GDP at current...
More »Q2 GDP shows surprising resilience: Is it good enough to last?
-Livemint.com/ PTI * 'Despite being the worst affected sector in Q1(due to lockdown), it is quite puzzling how manufacturing turned itself around in Q2,' says Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI * There is evidence of inventory buildup that could act as a drag on future manufacturing growth, says Ghosh New Delhi: The surprise resilience shown by the manufacturing sector that restricted GDP contraction to only 7.5 per cent in September...
More »Indian economy contracts by 7.5% in Q2
-The Hindu Country enters technical recession. India’s Gross Domestic Product (GDP) contracted 7.5% in the second quarter of 2020-21, following the record 23.9% decline recorded in the first quarter, as per estimates released by the National Statistical Office on Friday. The country has now entered a technical recession with two successive quarters of negative growth. However, the economy’s performance between July and September when lockdown restrictions were eased is better than most rating...
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