-The Hindu The reported contraction of the economy is likely an underestimate for reasons of omission and commission According to data released by the Ministry of Statistics and Programme Implementation of the Government of India on August 31, 2020, real quarterly GDP contracted by a whopping 23.9% between April-June 2019 and April-June 2020. This magnitude of real GDP decline is unprecedented since the country started publishing quarterly GDP estimates in 1996. This...
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Impact of Covid-19 Pandemic on the Indian economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar
-National Institute of Advanced Studies (NIAS), Bengaluru, Working Paper: NIAS/NSE/EEP/U/WP/18/2020 The paper entitled Impact of Covid-19 Pandemic on the Indian economy: A Critical Assessment by R Ramakumar and Tejal Kanitkar provides an analysis of the economic impact of the Covid-19 pandemic in India. First, using secondary data published by various sources, the paper attempts to document the trajectory of the infections and the lockdown in India. Secondly, the paper explains the...
More »The Indian economy on The Verge Of Collapse -Prabhat Patnaik
-Networkideas.org The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even this is an underestimate of the actual contraction brought about by the lockdown. In fact, a former chief statistician of India, Pronab Sen, believes that the actual contraction would have been about 32 per...
More »ExplainSpeaking on economy: Why unemployment could become a bigger headache for government -Udit Misra
-The Indian Express Rapid spread of Covid-19 and inadequate spending by government could result in India suffering a permanent loss of Rs 30 lakh crore, which is roughly the size of the Union Budget for 2020-21 Dear Readers, This week started with several economists coming out with their revised GDP growth expectations for India in response to the official GDP growth data that was released on August 31. With the economy shrinking more...
More »Six years of Modi govt’s rule has led Indian economy to near collapse -Prabhat Patnaik
-National Herald If the disaster that economy is heading towards is to be avoided, there has to be a massive injection of demand by govt both through transfers and through direct spending on goods and services The GDP growth in the first quarter (April-June) of 2020 over the first quarter of the previous year has been minus 24 per cent according to preliminary official estimates. But most knowledgeable people believe that even...
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