KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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The arithmetic for Tamil Nadu as a $1 trillion economy -C Rangarajan and KR Shanmugam
-The Hindu Reaching the target by 2030-31 has to be ruled out, as it requires a nominal annual growth rate of 18.2%; instead, the scenario can be 2033-34, with the required real rate of growth at 9% The Chief Minister of Tamil Nadu has set Tamil Nadu the goal of becoming a trillion dollar economy (by 2030), as he has indicated over the past year. This is a good aspirational goal. Tamil...
More »The clock’s ticking -Mahesh Rangarajan
-The Telegraph Climate change is the defining issue of the century but is clearly on the back-burner It is not often that the secretary-general of the United Nations, arguably the world’s most visible diplomat and peace-maker, tells it like he sees it. At COP27 in Sharm El-Sheikh, António Guterres did just that. The planet is fast approaching tipping points in terms of greenhouse emissions and their consequences. Climate change is the defining...
More »Charting the economic journey ahead -C Rangarajan
-The Hindu India has no choice but to grow fast, given the present level of per capita income The big question before India is where its economy will be 25 years from now. By 2047, India will complete 100 years after Independence. By that time, will India achieve the status of a developed economy, which means achieving a minimum per capita income equivalent to $13,000? We also need to know what the...
More »Realistic analysis shows that the Indian economy has simply taken little steps in Q1 instead of a quantum leap
There is euphoria abound about India's growth performance during the first quarter of the current fiscal. As compared to the corresponding period last year, the year-on-year (y-o-y) GDP growth in the first quarter (Q1) of 2022-23 is down. However, one should take into account the fact that the high growth performance of the real GDP in Q1 of 2021-22 was due to the low base in the corresponding period of...
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