RBI Governor Shaktikanta Das on Friday said that inflation is on a declining trajectory, as it has fallen by 170 basis points from its January 2020 peak. Retail inflation fell to four-month low of 5.91 per cent in March over the previous month, mainly due to easing food prices.
This time there has been a rather peculiar criticism of the latest GDP numbers.
The government on Monday appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shankanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI
Dr Ajay Kumar Sood will have to complete a task his predecessor started: Getting the government to sign off on a new Science, Technology, and Innovation Policy on which work was begun in 2020.
Going forward, the February factory output may be impacted as several industries such as automobiles, technology, pharma and fashion have some exposure to imports of raw and intermediate materials from China.
One in five students drop out from school.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
Only 48.3 per cent of the rural households used LPG, while the figures were much higher in urban areas at 86.6 per cent, according to a NSO report.
Three-quarters into the 10 years that Mr Modi had sought for transforming India, the 'output' numbers look impressive, but the key 'outcome' numbers don't show up much, if at all, observes T N Ninan.
Much of the Q3 data will simply not be available for the CSO to factor in its calculation.
N R Bhanumurthy, professor of economics at the National Institute of Public Finance and Policy, and the author of the series, presented in a report to the National Statistical Commission, explains to Abhishek Waghmare various aspects of the methodology.
Only half India's population has received the first shot of Covishield and Covaxin and the government's immediate task is to first vaccinate its adult population before placing its focus on children.
'But will there be matching action as far as tribals are concerned on the ground?'
New body to replace Plan panel might retain 40% of existing staff
The most serious recommendations to change the financial year came in the years preceded by deficient rainfall. The Jha committee was formed after droughts in 1979-80 and 1982-83, reports Rishika Pardikar/IndiaSpend.
Alleging that there had been politicisation and criminalisation of government officers in the state, the BJP leader, who was on a two-day visit, said the TMC government had stopped sending crime statistics to the National Crime Record Bureau (NCRB) after 2018.
Rediff.com's data journalists have visualised the National Sample Survey Office (NSS 66th round, July 2009-June 2010 and 68th round, July 2011-June 2012) data into an interactive map.
'Without reviving employment, consumer confidence will not go up.'
The GDP always has a base year, which defines the composition of the economy in that year. As the composition changes, the base year needs to be revised regularly. Abhishek Waghmare explains how that is done.
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
Amid a spike in coronavirus infection in parts of Maharashtra, Mumbai has witnessed 36.38 per cent rise in the active COVID-19 cases since February 8, as per the city civic body.
Why is China's supreme leader promoting Han Chauvinism so aggressively, asks Claude Arpi.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
R0 values, or the average number of infections expected to be caused by a Covid carrier, vary between states, and have not stabilised. While unlocking, it would be wise to look at these variations, advises Atanu Biswas.
If Nirmala Sitharaman does indeed present a 'never-before' like Budget on February 1, going by her promise, she would create a new benchmark for post-contraction Budgets, observes A K Bhattacharya.
Experts believe that under-reporting is likely to cause an underestimation of the spread of the disease.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
The BJP has bettered its show this time as its vote share in several states is well over 50 per cent, nothing short of a statistical wonder in Indian electoral history.
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
India grew at 7.6% in 2015-16 and at 7.2% in 2014-15.
Earlier, the CSO in its advance estimate had pegged the GDP growth rate for 2018-19 at 7.2 per cent.
The Rohingyas, who fled to India after violence in the western Rakhine State of Myanmar, have settled in Jammu, Hyderabad, Haryana, Uttar Pradesh, Delhi-NCR and Rajasthan.
India's problem cannot be blamed on external considerations alone.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
'Everyone confuses GDP to be a measure of output, when it is actually a measure of income.'
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
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