-Livemint.com A failure to protect incomes could widen the gap between have-nots and haves and thus hurt growth When the facts change, I change my mind," John Maynard Keynes is believed to have said almost a century ago. Responding to the economic after-shocks of the covid pandemic, governments and central banks have been living by this maxim. In the UK and US, supposedly fiscally conservative governments have spent with abandon to prop...

-The Hindu The government’s economic recovery hype is off track and this is not a time for fiscal conservatism Preliminary evidence that India’s economy contracted by 7.5% in the second quarter of financial year 2020-21 was, as news, both good and bad. Good because that figure is far lower than the 23.9% contraction registered in the first quarter of this financial year. Bad because a 7.5% second quarter contraction is high both...

-The Hindu Slashing public expenditure amid a Recession is a recipe for serious economic disaster The National Statistical Office (NSO) recently announced estimates of economic activity in the second quarter of the current financial year. As most of the first quarter coincided with the lockdown announced by the Central government, it would only have been expected that output would be depressed as production could not have taken place. And this is what...

-The Hindu Country enters technical Recession. India’s Gross Domestic Product (GDP) contracted 7.5% in the second quarter of 2020-21, following the record 23.9% decline recorded in the first quarter, as per estimates released by the National Statistical Office on Friday. The country has now entered a technical Recession with two successive quarters of negative growth. However, the economy’s performance between July and September when lockdown restrictions were eased is better than most rating...

Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...