-Down to Earth Agriculture was the only sector to have clocked a positive Growth at constant prices in 2020-21 The share of agriculture in gross domestic product (GDP) has reached almost 20 per cent for the first time in the last 17 years, making it the sole bright spot in GDP performance during 2020-21, according to the Economic Survey 2020-2021. The resilience of the farming community in the face of adversities made agriculture...
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Fix inverted tariff structures to boost industrial Growth in India -C Veeramani and Anwesha Basu
-Livemint.com Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness A steady decline in import tariff rates in manufacturing industries had been an important feature of India’s economic reforms during the 1990s and 2000s. The average import tariff rate was reduced from about 84% in 1990 to the lowest-ever level of 8.6% in 2010. Consequently, imports of goods plus services as a percentage...
More »India only key nation with double-digit Growth in FY22: IMF
-The Indian Express In its latest World Economic Outlook Update, released Tuesday, the IMF predicted that China would grow 8.1 per cent in 2021, followed by Spain (5.9 per cent) and France (5.5 per cent). The Indian economy will stage a strong rebound and grow as much as 11.5 per cent on year in FY22, the International Monetary Fund (IMF) said on Tuesday, revising up its earlier forecast of an 8.8 per...
More »Budget 2021 Is a Chance to Undo the COVID-Induced Inequality That Has Surged Across India -Nikhil Dey
-TheWire.in Ideally, the government should increase the work entitlement for MGNREGA to at least 150 days, double the budget and put in place an urban employment guarantee act. Let’s start with those who did well over the last 10 months. The Sensex index crossed the 50,000 benchmark for the first time on January 21, 2021, with a whopping 70% increase since April 2020. The Oxfam inequality report, just released, gives an idea of...
More »Budgeting in a time of crisis -TCA Ramanujam
-The Hindu Keynesian economics offers guidelines for preparing the Budget The Great Depression wrecked the economies of the U.S. and Europe. In the words of Jonathan Alter, when Franklin Roosevelt became the American President in 1933, he was told: “Mr. President, if your programme succeeds you would be the greatest President in American history. If it fails, you will be the worst one”. Roosevelt replied: “If it fails, I will be the...
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