-Livemint.com The government will have to ensure its spending improves economy-wide productivity, and its own revenue-generating capacity, to avoid a stagflationary trap After dithering on a fiscal stimulus package for nearly a year, India’s finance minister Nirmala Sitharaman has declared that she will not allow the fiscal deficit number to worry her too much as she pushes spending to revive growth in the upcoming budget. The government hopes that growth will generate higher...
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A brief history of the Indian economy in 2020 -Udit Misra
-The Indian Express India started the calendar year by recording the slowest GDP growth rate in six years and ended it by entering a technical Recession. Here's how it all unfolded. Dear Readers, Right through the year, at ExplainSpeaking, we have strived to make sense of the most important developments in the Indian economy. As the year ends, here are the highlights from 2020 and five things to watch out for in 2021. The...
More »The country should worry about further worsening of economic inequality in the post-COVID period
The World Economic Outlook – a bi-annual publication of the International Monetary Fund (IMF) -- released in October 2020 has anticipated that the economic progress made by the countries since the 1990s to reduce poverty would be turned upside down by the COVID-19 pandemic. On top of that, economic disparity would rise too in the post-COVID world because the crisis has disproportionately impacted women, informal sector workers and people with...
More »Tax policy in trying times -TCA Ramanujam and TCA Sangeetha
-The Hindu The events of the pandemic show how it is the need of the hour to modernise India’s archaic tax laws The word ‘lockdown’, which is Collins Dictionary’s word of the year, sums up the pain that the world underwent in 2020. As a result of the pandemic-induced lockdown, India’s GDP contracted consecutively for two quarters from April to September 2020. Some have gained from the pandemic. India’s super rich only became...
More »Govt citing lack of fiscal space for reluctance to provide adequate support to economy is odd -Jahangir Aziz
-The Indian Express What needs to be ensured is that the recovery is not hamstrung by damaged household and SME balance sheets because of the extended loss of wages and incomes. This requires extensive income support now. Sometimes we miss the forest for the trees, and at other times the trees themselves become the story. That seems to be the case with India’s 3Q20 GDP print. Some have exulted over headline growth printing...
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