-The Indian Express Rapid spread of Covid-19 and inadequate spending by government could result in India suffering a permanent loss of Rs 30 lakh crore, which is roughly the size of the Union Budget for 2020-21 Dear Readers, This week started with several economists coming out with their revised GDP growth expectations for India in response to the official GDP growth data that was released on August 31. With the economy shrinking more...
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Explained: Forex reserves at all-time high — why did this happen, and what does it mean for India’s economy? -George Mathew and Sandeep Singh
-The Indian Express The current situation stands in stark contrast to the one in 1991, when India had to pledge its Gold reserves to stave off a major financial crisis. In March 1991, India had forex reserves of a mere $5.8 billion; today, the country can depend on its soaring foreign exchange reserves to tackle any crisis on the economic front. India’s foreign exchange (forex) reserves surged by $3.883 billion to touch...
More »Opening India’s Food Economy to Demands of Imperialism -Prabhat Patnaik
-Newsclick.in Every step in the direction of opening agriculture to global trade – as announced in the three ordinances by the Modi government – is a step towards reducing domestic food availability. The tropical region can grow a variety of crops which either cannot be grown at all, or for much of the year, in the cold temperate regions of the world where metropolitan capitalism is located. These include beverages, fibres, vegetables...
More »Modi 2.0: Dark clouds have engulfed the nation -Sitaram Yechury
-Hindustan Times The government has undermined secular democracy; social justice; federalism; and economic self-reliance Surreal is, perhaps, the only way to describe marking of the first anniversary of the Modi 2.0 government. As the government data detailing the pre-coronavirus disease destruction of the economy and the consequent ruination of crores of lives during the last year was being released, Prime Minister (PM) Narendra Modi was writing to all of us describing the...
More »Farmers are among the heroes of the COVID-19 pandemic -Akila Kannadasan and Chitradeepa Anantharam
-The Hindu Amid stories of farmers struggling to sell their produce due to the lockdown, there is also a ray of hope in those who sell locally, creating more self-sufficient communities Vegetables are the new Gold. Whoever thought one would dream of roasted potato and carrot raita? These are strange times. After we venture out to buy them, mask and gloves on, we (hopefully) return triumphant, our bags bulging with carrots, beans,...
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