Weekly Updates on Indian Economy

(11th January 2020 to 17th January 2020)

 

National Accounts and state of the economy

1. India’s weak economy likely to halt jump in company bond yields

https://www.livemint.com/news/india/india-s-weak-economy-likely-to-halt-jump-in-company-bond-yields-11579134827334.html

2. Join Global Value Chain(GVC) and RCEP
   https://economictimes.indiatimes.com/news/economy/foreign-trade/why-being-a-part-of-the-global-value-chains-matters-for-india/articleshow/73256703.cms
3. Exports contracts for the fifth consecutive month in December
   https://www.financialexpress.com/economy/trade-woes-exports-contract-for-fifth-straight-month-in-december/1824534/
4. Some stability, but risk remains
   https://www.business-standard.com/article/opinion/some-stability-but-risks-remain-120011600023_1.html
5. Worry about the trend, not the cycle
   https://www.business-standard.com/article/opinion/worry-about-the-trend-not-the-cycle-120011200970_1.html
6. Behind the polar market behaviour
   https://www.thehindubusinessline.com/opinion/columns/behind-the-bipolar-market-behaviour/article30536141.ece
7. The inequality debate we need
   https://www.business-standard.com/article/opinion/the-inequality-debate-we-need-120011400015_1.html
8. Let’s inflate growth
   https://timesofindia.indiatimes.com/blogs/toi-editorials/lets-inflate-growth-food-inflation-is-a-matter-of-concern-but-growth-revival-should-be-the-priority/
9. Now wholesale inflation touches a 7 month high of 2.59 % in December
   https://www.thehindubusinessline.com/economy/wpi-inflation-surges-to-259-per-cent-in-december/article30565175.ece
10. We are all prisoners of the attention economy now

https://www.livemint.com/opinion/columns/we-are-all-prisoners-of-the-attention-economy-now-11579110363978.html

11. The idea of diversity in an open economy

https://www.livemint.com/opinion/online-views/the-idea-of-diversity-in-an-open-economy-11579023612704.html

12. Lessons for India from other economies in the Asian region

https://www.livemint.com/opinion/columns/lessons-for-india-from-other-economies-in-the-asian-region-11579021408650.html

13. How India, the world’s fastest-growing economy, plunged into stagflation

https://www.livemint.com/news/india/how-india-the-world-s-fastest-growing-economy-plunged-into-stagflation-11578976396567.html

14. It’s still too early to worry about a middle-income trap

https://www.livemint.com/opinion/online-views/it-s-still-too-early-to-worry-about-a-middle-income-trap-11578935058982.html

15. Rupee rises 7 paise to 70.75 against dollar in early trade on signs of easing Sino-US trade tensions

https://www.firstpost.com/business/rupee-rises-7-paise-to-70-75-against-dollar-in-early-trade-on-signs-of-easing-sino-us-trade-tensions-7913631.html

16. WPI rises to 7-month high at 2.59% in December from 0.58% in November on hike in onion, potato prices

https://www.firstpost.com/business/wpi-rises-to-7-month-high-at-2-59-in-december-from-0-58-in-november-on-hike-in-onion-potato-prices-7903781.html
https://scroll.in/latest/949833/wholesale-inflation-rose-to-2-59-in-december-onion-prices-up-455-since-2018

17. ‘Back-breaking inflation, unemployment has created financial emergency,’ says Rahul Gandhi

https://scroll.in/latest/949905/back-breaking-inflation-unemployment-has-created-financial-emergency-says-rahul-gandhi

18. Retail inflation rose to 7.35% in December – the highest since July 2014

https://scroll.in/latest/949768/retail-inflation-rose-to-7-35-in-december-the-highest-since-july-2014

19. Why India really lags behind
    https://timesofindia.indiatimes.com/blogs/toi-edit-page/why-india-really-lags-behind-the-answer-is-not-those-five-myths-about-china-that-we-love-so-much/
20. An economic revival plan for the states
    https://www.thehindubusinessline.com/opinion/an-economic-revival-plan-for-the-states/article30578456.ece

Public Finance

1. Odisha, UP and Telangana Record Highest Retail Inflation Rate in December

https://thewire.in/economy/odisha-up-and-telangana-record-highest-retail-inflation-rate-in-december

2. Why Not Mint Money | Changes tax experts want from Budget 2020

https://www.livemint.com/videos/why-not-mint-money-changes-tax-experts-want-from-budget-2020-11579056965053.html

3. GST fraud: Over 1,200 exporters untraceable, govt saves Rs 350 cr fake IGST refunds; involvement of customs brokers suspected

https://www.firstpost.com/business/gst-fraud-over-1200-exporters-untraceable-govt-saves-rs-350-cr-fake-igst-refunds-involvement-of-customs-brokers-suspected-7910871.html

4. Assocham for cut in GST rates by 25% across the board for next six months to boost investment, consumer demand

https://www.firstpost.com/business/assocham-for-cut-in-gst-rates-by-25-across-the-board-for-next-six-months-to-boost-investment-consumer-demand-7910731.html

5. Union Budget 2020-21: Auto industry seeks bold fiscal measures to revive growth amid slowdown concerns

https://www.firstpost.com/business/union-budget-2020-21-auto-industry-seeks-bold-fiscal-measures-to-revive-growth-amid-slowdown-concerns-7898041.html

6. Budget 2020: Govt to draft first national fisheries policy with Rs 45,000 cr; to focus on aquaculture, mariculture among others

https://www.firstpost.com/business/budget-2020-govt-to-draft-first-national-fisheries-policy-with-rs-45000-cr-to-focus-on-aquaculture-mariculture-among-others-7913711.html

7. 1200 exporters seeking GST refunds missing
   https://timesofindia.indiatimes.com/business/india-business/over-1200-exporters-untraceable-government-saves-rs-350-crore-fake-igst-refund/articleshow/73274904.cms
8. Addressing the GST revenue woes
   https://www.newindianexpress.com/opinions/2020/jan/13/addressing-the-gst-revenue-woes-2088797.html
9. Why is the government sitting on unutilised cess of over 3 lakh crore
   https://www.thehindubusinessline.com/portfolio/news-analysis/why-is-the-government-sitting-on-unutilised-cess-of-3-lakh-crore/article30550983.ece
10. Direct Tax immunity scheme on the cards
    https://www.business-standard.com/budget/article/budget-2020-direct-tax-amnesty-scheme-on-cards-to-improve-compliance-120011200707_1.html
11. Fiscal Deficit may be 3.5 percent of GDP
    https://www.business-standard.com/article/news-ani/fiscal-deficit-will-remain-with-3-5-percent-of-gdp-finance-ministry-118032900570_1.html
12. Budget and the building blocs of growth
    https://www.business-standard.com/article/opinion/budget-and-the-building-blocks-of-growth-120011700022_1.html

Industry, Manufacturing, Services and Technology

1. India’s Exports Decline for Fifth Consecutive Month in December

https://thewire.in/economy/india-export-decline-commerce

2. IIP grows 1.8 percent in November. Turns positive after 3 months of decline
   https://www.hindustantimes.com/business-news/iip-grows-1-8-percent-in-nov-turns-positive-after-3-months-of-decline/story-0ytpy4Mr1a3IMQ5opsxHnM.html
3. Funds of funds for MSME sector likely to be unveiled in budget
   https://economictimes.indiatimes.com/small-biz/sme-sector/budget-likely-to-unveil-fund-of-funds-for-msme-sector/articleshow/73262276.cms
4. Energy sector needs GST council like model
   https://www.thehindubusinessline.com/opinion/energy-sector-needs-a-gst-council-like-model/article30569096.ece
5. Innovations that creates markets
   https://www.business-standard.com/article/opinion/innovations-that-create-markets-120011601394_1.html
    

Banking and Central Bank related

1. Bank Unions Call Two-Day Strike From January 31

https://thewire.in/banking/bank-unions-call-two-day-strike-from-january-31

2. Depositors Panic as RBI Imposes Withdrawal Limit on Bengaluru Co-Op Bank

https://thewire.in/banking/rbi-bengaluru-co-op-bank

3. Slowdown, Credit Squeeze to Increase NPA, but Banks More Resilient Now: RBI

https://thewire.in/banking/slowdown-credit-squeeze-npa-banks-rbi-report

4. Demand for personal loans and credit card spikes as the economy slows down

https://www.livemint.com/money/personal-finance/demand-for-personal-loans-and-credit-card-spikes-as-the-economy-slows-down-11579145230266.html

5. India likely to create 16 lakh fewer jobs across govt, low-paying sectors: SBI report

https://www.livemint.com/news/india/india-likely-to-create-16-lakh-fewer-jobs-across-govt-low-paying-sectors-sbi-report-11578922964363.html

6. SBI warns India creating fewer jobs across govt and low-paying sectors

https://www.livemint.com/news/india/sbi-warns-india-creating-fewer-jobs-across-govt-and-low-paying-sectors-11578890643886.html

7. RBI issues new guidelines for credit, debit cards; move aims to prevent digital transaction frauds

https://www.firstpost.com/business/rbi-issues-new-guidelines-for-credit-debit-cards-move-aims-to-prevent-digital-transaction-frauds-7913441.html

8. Government asks banks to open 15000 branches in FY21
   https://economictimes.indiatimes.com/industry/banking/finance/banking/govt-asks-banks-to-open-15000-branches-in-fy21/articleshow/73286116.cms
9. India banks on swelling forex kitty amid west Asian conflict
   https://economictimes.indiatimes.com/markets/stocks/news/india-banks-on-swelling-forex-kitty-amid-west-asia-conflict/articleshow/73132659.cms
10. The perils of RBI’s fixation of inflation
    https://www.thehindu.com/opinion/lead/the-perils-of-rbis-fixation-on-inflation/article30578704.ece

External Sector

1. US - China sign phase 1 of trade deal
   https://www.bloomberg.com/news/articles/2020-01-15/u-s-china-sign-phase-one-of-trade-deal-trump-calls-remarkable
2. Oil, the world’s Oyster
   https://economictimes.indiatimes.com/markets/commodities/news/view-oil-is-the-worlds-new-oyster/articleshow/73239008.cms
3. What role did exports play in India’s growth acceleration
   https://www.thehindubusinessline.com/opinion/columns/c-p-chandrasekhar/what-role-did-exports-play-in-indias-growth-acceleration/article30559542.ece

India Forum

1. For A Bahujan Economics: A Personal Statement

https://www.theindiaforum.in/article/bahujan-economics

2. What is Happening to Rural Welfare, Poverty, and Inequality in India?

https://www.theindiaforum.in/article/what-happened-rural-welfare-poverty-and-inequality-india-between-2011-12-and-2017-18

3. India’s Biggest Challenge: The Future of Farming

https://www.theindiaforum.in/article/india-s-biggest-challenge-future-farming

4. What Should We Do About the Indian Economy? A Wide-Angled Perspective

https://www.theindiaforum.in/article/what-should-we-do-about-indian-economy

 

Columns by Joseph Stiglitz and Paul Krugman

1. Why does America hate its children (Paul Krugman)
   https://www.nytimes.com/2020/01/16/opinion/children-america.html
2. Trump’s plot against health care continues (Paul Krugman)
   https://www.nytimes.com/2020/01/16/opinion/children-america.html