-TheWire.in Our relentless pursuit of Economic growth poses serious risks not just to the environment but also to public health. The COVID-19 pandemic is first and foremost a public health crisis, but it brings along with it an economic crisis that is no less devastating. The public health crisis and the economic crisis are closely interrelated, especially in a country like India. India’s healthcare system lacks the resources to withstand the potential...
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Economy infected: Task force has a prescription, concerns mount over delay -P Vaidyanathan Iyer
-The Indian Express Over the last one month, the government pulled out all stops to contain the spread of the Covid-19. During this period, economic ministries including Commerce and Industry, Heavy Industries, Road Transport, Civil Aviation, Pharmaceuticals and Consumer Affairs met and heard stakeholders. With Covid-19 wreaking havoc in Indian financial markets and global research and rating firms marking down GDP growth estimates by up to 100 basis points, Prime Minister Narendra...
More »Problematic revisions: We need fewer, quicker Economic growth estimates -AK Bhattacharya
-Business Standard The CSO releases as many as 6 estimates of India's annual economic output growth; believe it or not, these estimates for the same year's economic output are released over a period of three years! When the Central Statistics Office (CSO) declared India’s gross domestic product (GDP) growth figure for 2016-17 on January 6, 2017, economic policy makers in the Narendra Modi government were disappointed. The GDP growth figure was only...
More »From Plate to Plough: Growth and the farmer -Ashok Gulati
-The Indian Express Montek Singh Ahluwalia’s book helps frame the problem: Tilt in favour of consumer in food policy reduces incentives for farmers, makes it difficult to unlock resources for growth. Last month, Montek Singh Ahluwalia’s book, Backstage: The Story Behind India’s High Growth Years, was released. It is an account of India’s economic reform journey— a process in which Montek was an insider for about 30 years. Besides some very interesting...
More »India adrift, optimism hard to sustain -Jean Drèze and Amartya Sen
-The Telegraph Prospects of the future damaged by failing development policy to collapsing democracy The recent estimate of GDP growth for the third quarter of 2019-20, at around 4.7 per cent, has prompted a predictable sense of gloom. However, even the 4.7 per cent estimate is deceptive, since in per-capita terms, the corresponding figure would be just above 3 per cent. This, sadly, is no more than half the growth rate of...
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