-Livemint.com/ PTI Ashok Gehlot demanded that PM Modi reconsider the agriculture laws to protect the interests of farmers and democratic values Jaipur: Rajasthan Chief Minister Ashok Gehlot on Sunday demanded the central government reconsider the three new farm laws against which farmers are staging protests. In a letter to Prime Minister Narendra Modi, the chief minister said that even when GDP Growth rate has been -7.5 per cent in the financial year 2020-21,...
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Q2 GDP shows surprising resilience: Is it good enough to last?
-Livemint.com/ PTI * 'Despite being the worst affected sector in Q1(due to lockdown), it is quite puzzling how manufacturing turned itself around in Q2,' says Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI * There is evidence of inventory buildup that could act as a drag on future manufacturing Growth, says Ghosh New Delhi: The surprise resilience shown by the manufacturing sector that restricted GDP contraction to only 7.5 per cent in September...
More »Indian economy contracts by 7.5% in Q2
-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...
More »Why Recovery at Cost of Worker Immiserisation Won’t Last Long -Prabhat Patnaik
-Newsclick.in GDP recovery from the lockdown-induced abyss is accompanied by significant labour displacement and squeeze on wages, which will impact aggregate demand. Ministers from Narendra Modi to Nirmala Sitharaman are talking about a recovery of the Indian economy from the pandemic-induced crisis. Even the Reserve Bank of India (RBI), which estimated the second quarter GDP Growth to have been -8.6%, has seen signs of recovery in October. Of course, there had to be...
More »Is loan guarantee scheme serving the purpose? -Madan Sabnavis
-The Hindu Business Line MSMEs are using funds from the Emergency Credit Line Guarantee Scheme more to pay off earlier loans than as Growth capital The Emergency Credit Line Guarantee Scheme (ECLGS) was one of the highlights of the economic package announced by the government in May, and it became operational on May 23. The scheme is basically a loan guarantee for all MSMEs which were operational as on February 29 with...
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