-Newsclick.in The estimated growth rate for the second quarter has been declared as 6.3%, but this is nothing that an average Indian should celebrate. The quick estimated growth rate of GDP for the second quarter (Q2) of 2017-18, has been declared as 6.3%, compared to 5.7% of the previous quarter (Q1). This is seen by many, including Mr Jaitley, as a sign that India’s economic growth is back on track. According to...
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Monsoon in India: Country feels the pinch as rainfall 5 pct less than normal
-The Financial Express The cumulative rainfall for southwest monsoon this year (July to September) has been 5% less than normal. The distribution has been uneven, with excess rains in some parts and shortage in several other areas like Uttar Pradesh, Haryana, Punjab, Madhya Pradesh and parts of Maharashtra. This has impacted sowing. As compared with last year, sowing is lower for foodgrains and oilseeds. Even the government’s first advance estimates say that...
More »Rural distress may lessen even as agriculture growth may stay flat -Sandip Das and Banikinkar Pattanayak
-The Financial Express The distress in rural India on account of a glut-induced crash in prices of farm commodities will likely alleviate soon as prices tend to look up, but statistical factors will keep farm-sector growth subdued in the short-term. A crash in prices kept growth in nominal gross value added (GVA) for the agriculture and allied sector above the expansion in real term in Q1FY18 for the first time in five...
More »Rising input prices keeping down net crop incomes in many states, observes new report
For those who asked why the farmers of Madhya Pradesh, Maharashtra and other states hit the streets during June and July this year, the report prepared by the Committee on Doubling Farmers’ Income could be a ready reckoner. Prepared under the chairpersonship of Ashok Dalwai, the report on Doubling Farmers’ Income after studying the trends in crop income and cost associated with 23 crops, reveals a mixed picture across the...
More »That sinking feeling -MV Rajeev Gowda & Salman Soz
-The Hindu In contrast to its pronouncements, the government’s own data suggest the economy is in a deep hole Prime Minister Narendra Modi, in his Independence Day address, spoke triumphantly about how demonetisation drove ?3 lakh crore of unaccounted money into the banking system. The Reserve Bank of India (RBI) is still counting old notes, and unaccounted money cases are ongoing. Thus, this number is at best a guesstimate, and cannot be...
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