-Livemint.com Thankfully, India is enjoying a demographic dividend that gives it greater leeway for deficit-financing The dominant consensus on the slowdown in India is that we have a demand problem. Lack of aggregate demand is a phrase that goes back to John Maynard Keynes. He is a ghost who reappears from time to time, however much one tries to bury him. Regardless of whether you are a Keynes devotee or not, his...
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Top farm scientists body rejects zero budget natural farming -Harish Damodaran and Parthasarathi Biswas
-The Indian Express This comes even as Prime Minister Narendra Modi, addressing the 14th Conference of Parties to the UN Convention to Combat Desertification on Monday, mentioned that “we are focusing on ZBNF”. India’s premier academic body of agricultural scientists has hit out at Zero Budget Natural Farming (ZBNF), terming it as an “unproven” technology bringing no incremental value gain to either farmers or consumers. “The government should not needlessly invest capital...
More »Getting the economy to turn around -Ajay Shankar
-The Hindu Business Line Lowering the exchange rate to boost exports, a grant-based stimulus for auto sector and reviving stalled power projects will help The slowdown in the Indian economy is far steeper than what most observers had expected. The government has announced a set of measures for revival. It has also indicated that more are in the pipeline. For this to have become necessary within weeks of the presentation of the...
More »Hardly the brick and mortar of a revival -Jayati Ghosh
-The Hindu The transfer of the RBI’s surplus is only a stopgap measure which will not address the key problem of a lack of demand There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid off about 350,000 workers since April this...
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...
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