-The Telegraph The last time that India faced a full-year contraction in its real GDP was in 1980 The Indian economy shrank by 23.9 per cent in the first quarter ended June 30, signalling that the road to recovery would be more arduous than most economists have projected. It marks the steepest decline since the National Statistical Office (NSO) started quarterly measurement of gross domestic product (GDP) in 1996. The slide in real GDP...
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What Vahan data tells us about India’s economic recovery -howindialives
-Livemint.com Barring sales of second-hand vehicles and new tractors, the auto industry remains badly hit. Vehicles used for transporting goods are among the worst-hit segments Will the Indian economy recover quickly from the June quarter lows? That’s the trillion dollar question facing investors today. One sector that offers vital clues in this regard is the automobile sector. Vehicle sales are among the key lead indicators of consumption and an important source of...
More »Fears of contraction, GDP data today will mark Covid effect & phase of recession -Aanchal Magazine
-The Indian Express With economic activity severely disrupted in the first two months of this fiscal, hit hard by a series of localised lockdowns and rising Covid-19 cases, GDP contraction for the first quarter is being pegged at an average 20 per cent by economists, with the de-growth range between 15.2 per cent and 25.5 per cent. The April-June Gross Domestic Product (GDP) will mark India’s entry into a recessionary phase —...
More »In ‘act of god’, coercive not cooperative federalism -Rajeev Gowda and Manpreet Singh Badal
-The Hindu In bridging the GST gap, the Centre ought to help States through the Consolidated Fund of India It is beyond anyone’s imagination that the Government of India would invoke the “Force Majeure” clause against its own people. Unfortunately, this has become reality at a time when every Indian State is massively burdened by the COVID-19 crisis and governance has been severely affected. Finance Minister Nirmala Sitharaman’s statement on Thursday that the...
More »Govt blames Covid, but payment stalled year ago -Aanchal Magazine
-The Indian Express The economic slowdown, which has been underway for almost three years now, began to adversely impact GST revenue collections in August last year. While the Centre Thursday chose to pin much of the blame for the delays on GST compensation payments to the slowdown inflicted by the pandemic, the delays preceded the Covid-19 shock by almost a year – when payments due for August-September 2019 got delayed. Since then,...
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