Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18. The government has, however, termed it a "draft" report, reports Somesh Jha.
India's informal economy and service sector accounts for over three-fifths of its $1.8 trillion economy.
A collapse in global oil prices has unleashed a wave of monetary easing.
CRISIL chief economist D K Joshi is of the opinion that GDP is an indicator of the health of the economy.
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
The number of new jobs created declined by around 65 per cent to 64,000 in April-June 2017, from 185,000 in January-March 2017, according to the Labour Bureau's quarterly report on employment.
Data show 75 per cent of the girls in 2011 were those who did not contribute to any economic activity (termed as non-workers by Census) -- these could include students, those involved in household chores, beggars, or those not helping in even unpaid work in the family, etc.
Changes the base year and included more sectors.
Economists have cautioned that any deferment of the government's fiscal goals would prove counter-productive and raise the interest payment burden.
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During April-February, the index of industrial production, a measure of factory activity, declined 0.1 per cent compared with a 0.9 per cent growth in the corresponding period of 2012-13.
The panel finds 'discrepancy' in the Annual Survey of Industries data.
He was most recently credited as one of the brains behind labour law reforms in Rajasthan
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.
According to the final recommendations of an expert committee, the weight of primary (unprocessed) food items will go down by 0.5-1.0 percentage points in the new series compared to the current one
The bigger worry is that its effects could linger well into the next financial year.
India grew at 7.6% in 2015-16 and at 7.2% in 2014-15.
The party's research centre, overseen by chief Sonia Gandhi, provides members with solid facts that can be used to target the Centre.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
The prospect of further falls in remittances is a hindrance for the Reserve Bank of India, as it seeks to bullet-proof the economy against sudden capital outflows
Much of the rural recovery story is based on the premise of agriculture doing well. Even if it clocks a growth of 2.5-3 per cent this year, it is still just around 15 per cent of the overall GDP. The non-farm sector, which constitutes a bigger portion of the overall rural economy, is now hampered by disruptions and lockdowns.
Across 10 prominent services, revenue to the government reduced by 20 per cent in the first year of GST compared to the last year of the service tax regime. This happened despite tax liability against these services growing by 50 per cent in one year.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Budget announcements will come right before five states, with population of around 250 million, go to polls.
More than 40% of the companies surveyed showed job contraction in FY18, says a report by CARE Ratings
Though the NITI Aayog did not give its estimates for the required GDP growth at constant prices, economists pegged it at 9 per cent, a feat not seen since the GDP series was revised with 2011-12 as the base year.
Latest official data shows that investment is, in fact, showing signs of a moderate pick-up.
'If the government spends Rs 10 lakh crore this year then you would be looking at a GDP growth of minus 5 per cent.' 'If you do not do this, you will be looking at GDP growth between minus nine and minus 10 per cent.'
RBI Governor Raghuram Rajan has noted the contradiction.
Much of the Q3 data will simply not be available for the CSO to factor in its calculation.
Poor rainfall has also depleted water reservoirs levels, which is likely to impact the winter crops.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
Fresh investments are constrained by tepid demand.
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
Crorepatis' income rose by a staggering 40% between 2015-2016 and 2017-2018.
Maybe the new methods of measuring GDP helped us get an accurate picture.
Even if the new body focuses on long-term planning, it is unlikely to do so through five-year Plans.
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