-The Indian Express Former Chief Economic Advisor Arvind Subramanian expands on his twin-Balance Sheet analysis to explain how the Indian economy reached the current state of turmoil. To a lay observer, the collapse of India’s economic growth momentum is nothing short of befuddling. That’s because until just a few years ago – to be precise until March 2017 – the Indian economy was not only growing at a progressively rapid pace but...
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Lending to small units fell in Q1, says MSME report
-The Hindu Business Line Credit risk is building in auto MSMEs, says Pulse report Mumbai: There was a marked slowdown in commercial credit growth in the quarter ending June 2019 along with a marginal deterioration in asset quality, according to the seventh edition of TransUnion CIBIL-SIDBI MSME Pulse Report. The total on-Balance Sheet commercial lending exposure in India declined to Rs.63.8 lakh crores in June 2019 from Rs.65.5 lakh crores in March 2019....
More »Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-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...
More »RBI's bonanza: Fiscal deficit by another name -Aunindyo Chakravarty
-Newsclick.in It’s just a parlour trick to disguise financing of government spending that does not appear in the formal Budget. We all know by now, that economic activity in this country has come to a grinding halt. That’s not just bad for our earnings, but also for the Government of India (GoI). Because, when people don’t buy or sell things, or even produce them, the government doesn’t get enough taxes. So, economists...
More »Former CEA rubbishes government arguments; sticks to claim of India overestimating GDP growth
-PTI In a new paper 'Validating India's GDP Growth Estimates', Arvind Subramanian said he had indicated his doubts on the growth numbers in the Economic Survey in 2015 as well as mid-year Economic Analysis. New Delhi: Sticking to his analysis that India’s economic growth has been overestimated, Arvind Subramanian said he had raised doubts about the GDP numbers in 2015 when he was the chief economic adviser of the Modi government...
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