-The Telegraph The slump in the GDP and the pain ahead The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the world’s steepest for India’s lockdown was the most stringent and the accompanying fiscal policy response the weakest. But the quarter per cent slump did surprise most analysts who have since...
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ExplainSpeaking on economy: Why unemployment could become a bigger headache for government -Udit Misra
-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...
More »India’s descent into stepwells of growth -Kaushik Basu
-Livemint.com * Poor handling of the pandemic threatens to derail our competitive advantage in the global economy * India’s economy is well-positioned in IT and outsourcing; health and pharma; and higher education and research, which are sectors expected to be leading drivers of global growth NEW YORK: India’s economy is in a downward spiral. The Economist Intelligence Unit just lowered the forecast for India’s growth in the coming year from -5.8% to -8.5%....
More »Locust invasions in a number of Indian states have arisen out of climate change induced extreme rainfalls in desert areas
In the midst of COVID-19 lockdown, desert locust swarms have been seen in parts of Rajasthan, Maharashtra, Gujarat, Uttar Pradesh, Punjab, Haryana and Madhya Pradesh in the second half of May 2020. The recent attacks by desert locust swarms have caused massive crop damage, depletion in the stock of cattle fodder and destruction of green vegetation in these states. As on 25th May, 2020, over half of Rajasthan’s 33 districts were...
More »12-year low -- and Before Covid
-The Telegraph 2019-20 economic growth tumbles to 4.2% India’s economic growth has tumbled to a 12-year low of 4.2 per cent in 2019-20. What is even worse is that this statistic barely reflects the impact of the coronavirus-induced lockdown, which has silenced the clangour in its factories for over two months. The lockdown began on March 25 — barely a week before the close of the financial year. “Due to a contraction in investment of...
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