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".
'The government has given up its focus on economic growth because it it not something Modi has been able to fully understand.' 'This explains the extraordinary focus on divisive politics by the BJP even at a time when the world's most important man in visiting India,' notes Aakar Patel.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
In keeping with the Trusts' objectives, the initiative was underpinned by an attempt to determine how over-nutrition was impacting citizens at a mass scale.
'The rise in unemployment, underemployment, discouraged workers and job insecurity is likely to continue, with very adverse consequences for the nation's economic well-being and social cohesion,' warns Shankar Acharya.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
A new paper by blames 'jobs deficit' for the decline in female labour force.
Future Group aims to increase customer spends - average of Rs 20,000 over 10 visits at its stores in a year
The government has the upper hand in the ongoing negotiations, and it is unclear if a real debate will happen, observes Tulika Narayan.
If the BJP wants to win 60 out of UP's 80 seats, it will need a jump of 30 percent in its vote share -- which is a mammoth task.
An NSSO survey has revealed that some are using the new toilets as store rooms.
Some of the players in the GST race are Payworld, Dell, Tally Solutions
If you have an active trading account or have consumer loans or thinking of taking out a loan, consider investing in NBFCs, says Devangshu Datta
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
The new numbers clearly had very different implications.
India must do away with policy paralysis to ensure growth in agriculture.
About 45 per cent of those who are part of the workforce, or about 207 million, are estimated to be engaged in agriculture and many of them will be outside the income-tax net and hence may not need a PAN. So, what does allotting PAN to 369 million individuals actually mean, wonders A K Bhattacharya.
'In old India, there was no hatred, anger or lynching. New India is one where humans are enemies of each other'
The Planning Commission's latest poverty estimates, based on the 2011-12 consumption expenditure survey, shows that across India, the number of people living below the poverty line declined by more than 15 percentage points -- from 2004-05 to 2011-12 and from 37 per cent to 21.9 per cent.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
Given the rapid changes in the Indian labour market, there is an urgent need to have current, accurate and publicly available data through regular, dynamic and comprehensive surveys. Indeed, this was the intention behind constituting the NITI Aayog Task Force on Improving Employment Data. The attempts by the government to "improve" labour data has actually made it worse, say Rosa Abraham, Janaki Shibu & Rajendran Narayanan.
The Raghuram Rajan committee report for evolving a composite development index of states, submitted to the finance ministry today, has a note of dissent from member Shaibal Gupta.
For the poorest 20 per cent of Indians, the expenditure on medicines alone is 85 per cent of what they spend on their health, according to the National Sample Survey.
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
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.
As of now, 12 million Indians join the workforce every year.
If people can lobby me for making changes in policies that goes against the country's interest, I won't keep myself in this position, says the vice chairman of NITI Aayog.
These institutes, while expensive, are a viable alternative to studying abroad.
RBI Governor Raghuram Rajan has noted the contradiction.
The first step is to estimate the retirement corpus you would need and to compute the approximate amount you can set aside every month, says V Viswanand, Senior Director and Chief Operations Officer, Max Life Insurance
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
Is India witnessing jobless growth or is there actually no issue with employment? The real story is between the first two suggesting that though there is sufficient employment, the challenge is to create well-paying quality jobs, says Amitabh Kant.
The government is doing things in agriculture that count for little, says Shreekant Sambrani.
There is hope for us non-vegetarians. At least some enlightened judges believe diet is a personal choice. Here's to Maansh Wapsi.
The construction sector is now India's second-largest employer after agriculture, the trend coinciding with India's high-growth phase and decline in poverty levels
About 13 million first time car/two-wheeler buyers are entering the market every year. If employment creation is such a big issue, where are these people coming from, asks Mahesh Nandurkar.
Lack of sanitation is leading to avoidable deaths of infants, and underweight and stunted children.
He said the NDA's work culture was different from that of the previous governments.
While the Delhi and Haryana governments have declared that they are all set to roll-out the food security programme on August 20 -- Rajiv Gandhi's birth anniversary -- there is confusion among the chief ministers about the implementation of the ordinance which gives the right to people to receive adequate quantity of food grains at affordable prices. Anita Katyal reports.
