-The Hindu Business Line Why access to capital for MSME entrepreneurs has the potential to alter India’s social fabric India’s social fabric has undergone a series of transformations since Independence. After the liberalisation of the economy in the 1990s, the market opened up and employment opportunities grew, as did the spending power and standard of living of the average Indian. As financial access grew, so did social mobility. However, certain sections have lagged...
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Indians Account for 80% of Those Who Became Poor Globally in 2020 Due to COVID-19: World Bank -Vikram Mukka
-TheWire.in In its latest report 'Poverty and Shared Prosperity 2022: Correcting the Course', the World Bank flagged concerns over how the lack of official data on poverty from India affects the world in drawing up global poverty estimates. New Delhi: A study by the World Bank has concluded that nearly 80% of people who slipped into poverty in 2020 due to the COVID-19 pandemic hailed from India. Out of 7 crore people...
More »The low productivity trap of collateralised lending for MSMEs -Harsh Vardhan
-Ideas for India The share of bank credit extended to MSMEs increased dramatically during the pandemic. In this post, Harsh Vardhan discusses the the government guarantee of bank loans as a possible driver of this growth. He outlines the current policy of providing credit against collateral, and the constraints MSMEs face while borrowing– which leads to decreased investment and firm productivity. He argues that the learnings from the credit guarantee scheme...
More »Through a rosy lens -Anup Sinha
-The Telegraph The airbrushing of the Indian economy is damaging The latest Monthly Economic Review from the ministry of finance gives the reader a great deal of comfort by indicating that all is well with the Indian economy. If there is any cause for concern at all, it is from external economic and political shocks: events like the Federal Reserve in the United States of America raising interest rates, or Russia invading...
More »World Bank cuts India’s GDP forecast to 6.5%, but there's some positive news too -Harshit Sabarwal
-Hindustan Times In its South Asia Economic Focus report released on Thursday, the World Bank said, “The spillovers from the Russia-Ukraine war and global monetary policy tightening will continue to weigh on India’s economic outlook.” The World Bank on Thursday downgraded India's GDP or gross domestic product to 6.5% for the fiscal year 2022-23 from an earlier estimate of 7.5%. In the previous year, the Indian economy grew by 8.7%. In its South...
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