-The Hindu ‘Lacks vigour, won’t stand up to scrutiny’ The Prime Minister’s Economic Advisory Council (PMEAC) has released a detailed note enumerating its objections to former Chief Economic Adviser Arvind Subramanian’s paper on India’s GDP growth. The note said that Mr. Subramanian’s paper “lacks rigour” and would not stand up to academic scrutiny. Lower GDP The paper, released in Harvard University, postulated that the GDP growth between 2011-17 was significantly lower than the 7%...
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Which one is a better indicator for depicting the problem of joblessness -- Proportion Unemployed or Unemployment Rate?
In a recent blog post, Columbia University professor Arvind Panagariya mentions that the critics of the present Prime Minister of India failed to underscore ‘employment rate’ -- flip side of unemployment rate -- that stood at nearly 94 percent according to the report on Periodic Labour Force Survey 2017-18. A recent article by Dr. Vikas Rawal and Prachi Bansal, however, points out that in order to understand the problem of joblessness...
More »Despite Adityanath govt's big promises; unemployment situation worsens in Uttar Pradesh -Biswajeet Banerjee
-National Herald The unemployment situation is worsening in Uttar Pradesh and it is directly proportional to education. Which means, more educated the youth is, bigger is the chance of them being unemployed Despite the Yogi-led BJP government promised the Ram Rajya in Uttar Pradesh, the unemployment situation is worsening which is directly proportional to education. Thus meaning, more educated a youth is, bigger is the chances of him not getting a job. The...
More »Drought casts spell on Maharshtra economy, growth stagnant at 7.5% -Sandeep Ashar
-The Indian Express The one indicator that will worry the Devendra Fadnavis-led government the most as it spells out its final budget before the state polls on Tuesday is the negative growth in the crop sector. Mumbai: Suffering from a crippling drought and growing agrarian distress, Maharashtra’s economic growth remained stagnant at 7.5 per cent. According to the Economic Survey Report (ESR) 2018-19, which was presented to the state legislature on...
More »Arvind Subramanian's calculation of GDP is flawed too, says economist Arun Kumar
-Down to Earth He says neither the government not the former chief economic advisor include the unorganised sector while computing economic growth Noted economist Arun Kumar said former chief economic advisor Arvind Subramanian is correct in saying that the rate of growth of Gross Domestic Product (GDP) has been overestimated in the last few years. Subramanian's methodology to gauge economic growth, however, may also not be correct — both being indirect methods...
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