-The Hindu Various ratings agencies had predicted such a slowdown in the second quarter due to the impact of rising Oil prices on input costs, and also due to the effect of the rupee devaluation. New Delhi: Second-quarter GDP growth slowed to 7.1%, from 8.2% in the preceding three-month period, official estimates released on Friday show. Gross Value Added (GVA) growth eased to 6.9% in July-September, from 8%. The GDP expansion in the...
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Demonetisation a massive, draconian, monetary shock: Arvind Subramanian
-IANS The former CEA says he does not think anyone disputes that demonetisation slowed growth. Demonetisation was a massive, draconian, monetary shock that accelerated economic slide to 6.8% in the seven quarters after it against the 8% recorded prior to the note ban, says former Chief Economic Advisor Arvind Subramanian. Breaking his silence on the November 8, 2016 decision of Prime Minister Narendra Modi, he says that he does not have a strongly-backed...
More »Tamil Nadu noon meal scam: Income Tax seizures reveal payment of Rs. 2,400 crore in kickbacks to politicians, officials -S Vijay Kumar
-The Hindu Seizures from premises of Christy Friedgram Industry included documents related to suspicious payments and classified documents like proposals for posting of IAS officers. Chennai: The Income Tax Department has unearthed documents that expose an alleged nexus between a major supplier of food items for Tamil Nadu’s flagship noon meal scheme and politicians, bureaucrats and their associates. Analysis of electronic storage devices and documents seized from the premises of Tiruchengode-based Christy Friedgram...
More »Aadhaar related inadequacies causing hunger and food insecurity in Jharkhand, allege Right to Food Campaign activists
-Press statement by Right to Food Campaign dated 19 November, 2018 At least two more persons died of starvation in Jharkhand in the last 25 days. This takes the total number of hunger deaths in the state to 17, since September 2017. The most recent victim is 45-year old Kaleshwar Soren who died of hunger and destitution on 11 November in Mahuatanr village of Jama block of Dumka district. A fact...
More »The Oil & rupee problem -Kirit Parikh
-The Indian Express A balanced approach can reduce petrol price without affecting revenues. RBI mustn’t artificially shore up rupee The Brent crude Oil price has changed from around $68/barrel in January to $70/barrel on November 9, touching a high of $86 on October 3. The rupee has also fallen from Rs 63.30 per US$ in January to Rs 70 on November 9. These fluctuations have created major policy problems for the...
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