Weekly Updates on Indian Economy

(1^st Feb 2020 to 7^th Feb 2020)

 

National Accounts and state of the economy

1. A Brief Exercise in Not Taking the Economic Survey 2020 Seriously

https://thewire.in/economy/union-budget-economic-survey-2020

2. India's Manufacturing and Services Sector Activity Hits Seven-Year-High: IHS Markit

https://thewire.in/economy/indias-manufacturing-and-services-sector-activity-hits-seven-year-high-ihs-markit

3. Indian Economy Experiencing a Slowdown, Not a Recession: IMF Managing Director

https://thewire.in/economy/indian-economy-experiencing-a-slowdown-not-a-recession-imf-managing-director

4. Opinion | India’s puzzle of consumption, credit and confidence

https://www.livemint.com/opinion/online-views/india-s-puzzle-of-consumption-credit-and-confidence-11580921551722.html

5. A grinding economic recovery at best next year

https://www.livemint.com/budget/opinion/a-grinding-economic-recovery-at-best-next-year-11580572007616.html

6. Economic Survey 2020 tries to settle debate over veracity of macroeconomic data; says concerns on GDP growth estimates unfounded

https://www.firstpost.com/business/economic-survey-2020-tries-to-settle-debate-over-veracity-of-macroeconomic-data-says-concerns-on-gdp-growth-estimates-unfounded-7984391.html

7. Economic Survey trust free market to create wealth
   https://www.thehindubusinessline.com/economy/reposing-trust-in-markets-to-create-wealth/article30705251.ece

https://www.newindianexpress.com/business/2020/feb/01/economic-survey-2019-20-sees-rebound-celebrates-wealth-creators-2097426.html

https://timesofindia.indiatimes.com/business/india-business/economic-survey-pitches-reforms-says-free-market-part-of-indias-ethos/articleshow/73818894.cms

https://economictimes.indiatimes.com/news/economy/policy/economic-survey-gdp-no-longer-in-a-pickle-on-ceas-special-thali/articleshow/73824241.cms?from=mdr

https://m.economictimes.com/news/economy/indicators/economic-slowdown-bottomed-out-uptick-from-here-onwards-cea/articleshow/73802869.cms

8. Economic Survey highlights
   https://www.financialexpress.com/budget/economic-survey-2020-live-updates-pdf-download-parliament-budget-session-nirmala-sitharaman/1840901/

https://pib.gov.in/newsite/PrintRelease.aspx?relid=197771

9. https://economictimes.indiatimes.com/news/economy/indicators/economic-survey-2020-key-highlights/articleshow/73791464.cms?from=mdr
10. No evidence of wrong estimation of growth
    https://www.thehindu.com/business/Economy/economic-survey-2019-20-no-evidence-of-wrong-estimation-of-growth/article30705845.ece
11. 30 years later, survey lay down the ground for liberalisation 2.0
    https://www.business-standard.com/article/economy-policy/30-years-later-economic-survey-lays-down-the-ground-for-liberalisation-2-0-120013101877_1.html
12. A poor country of very rich people
    https://www.business-standard.com/article/opinion/a-poor-country-of-very-rich-people-120013101758_1.html
13. An exercise benefit of macroeconomic vision
    https://www.thehindu.com/opinion/lead/an-exercise-bereft-of-macroeconomic-vision/article30715581.ece
14. Short on Stimulus , long on reforms
    https://www.thehindubusinessline.com/opinion/short-on-stimulus-long-on-reform/article30727768.ece
15. Has Sitharaman done enough to address the slowdown ?
    https://www.business-standard.com/budget/article/budget-2020-has-fm-sitharaman-done-enough-to-address-the-slowdown-120020101718_1.html
16. Autonomy for NSC: If proposed National Statistical Commission is to make a difference, its independence is imperative

https://timesofindia.indiatimes.com/blogs/toi-editorials/autonomy-for-nsc-if-proposed-national-statistical-commission-is-to-make-a-difference-its-independence-is-imperative/

17. Unemployment at 6.1 per cent, new survey underway: Santosh Gangwar at Rajya Sabha

https://www.newindianexpress.com/nation/2020/feb/06/unemployment-at-61-per-cent-new-survey-underway-santosh-gangwar-at-rajya-sabha-2099695.html

 

Union Budget 2020

1. Budget 2020 Fails MGNREGA, Yet Again

https://thewire.in/labour/budget-2020-nirmala-sitharaman-mgnrega

2. Budget 2020 Sidesteps the Question of What the Govt Should Do to Revive the Economy

https://thewire.in/economy/budget-2020-centre-revive-economy-sidestep

3. On Income Tax, Agriculture and Education, Budget 2020 Mostly Disappoints

https://thewire.in/economy/on-income-tax-agriculture-and-education-budget-2020-mostly-disappoints

4. In a Surprise Move, Education Ministry's Budget Hiked by 5%

https://thewire.in/education/in-a-surprise-move-education-ministrys-budget-hiked-by-5

5. Sitharaman’s ‘Budget of Giveaways’ Will Not Help India's Broken Economy

https://thewire.in/economy/budget-2020-india-economy

6. Budget 2020: How did Nirmala Sitharman Manage to Rein in Fiscal Deficit at Only 3.8%?

https://thewire.in/economy/budget-2020-how-did-nirmala-sitharman-manage-to-rein-in-fiscal-deficit-at-only-3-8

7. Budget 2020: India's Silent Fiscal Heart Attack Persists

https://thewire.in/economy/budget-2020-nirmala-sitharaman-tax-revenue-shortfall

8. Nirmala Sitharaman Has Given us a Lacklustre Budget, Aimed Not at Growth or Welfare

https://thewire.in/economy/nirmala-sitharaman-has-given-us-a-lacklustre-budget-aimed-not-at-growth-or-welfare

9. Budget 2020: Does the Govt Intend to Reduce Coverage Under the Food Security Act?

https://thewire.in/food/budget-2020-does-the-govt-intend-to-reduce-coverage-under-the-food-security-act

10. Missing and Wanted in Budget 2020 – a Boost for India's Economy 

https://thewire.in/economy/budget-2020-economy-boost

11. How Many People Will Benefit From Nirmala Sitharaman's New Income Tax Rates?

https://thewire.in/economy/budget-new-income-tax-rates

12. Budget 2020: Scientific Depts. Get 8% Hike, Much More for 'Disruptive' Tech

https://thewire.in/the-sciences/budget-2020-scientific-depts-get-8-hike-much-more-for-disruptive-tech

13. Budget 2020: Trickle Down Economics Will Fail Like Always

https://thewire.in/economy/budget-2020-trickle-down-economics

14. Budget Fails Yet Again to Present a Roadmap to Increase Rural Demand, Double Farmers' Income

https://thewire.in/agriculture/budget-rural-demand-farmers

15. What the budget says and how it impacts you

https://www.livemint.com/budget/news/what-the-budget-says-and-how-it-impacts-you-11580581766028.html

16. Opinion | A directional Budget that doesn’t go far enough to kick-start economy

https://www.livemint.com/budget/opinion/a-directional-budget-that-doesn-t-go-far-enough-to-kick-start-economy-11580576990460.html

17. What is the Impact of the Budget 2020-21 for revival of economic growth?

https://www.livemint.com/budget/opinion/what-is-the-impact-of-the-budget-2020-21-for-revival-of-economic-growth-11580566043428.html

18. Budget 2020: Startups expect slew of sops from tax cuts to simplification of GST filing systems from finance minister

https://www.firstpost.com/business/budget-2020-startups-expect-slew-of-sops-from-tax-cuts-to-simplification-of-gst-filing-systems-from-finance-minister-7983471.html

19. Budget 2020: India maps out path to promote solar energy and cleaner air

https://scroll.in/article/951901/budget-2020-india-maps-out-path-to-promote-solar-energy-and-cleaner-air

20. Budget again reveals structural fiscal constraints
    https://www.business-standard.com/article/opinion/budget-2020-again-reveals-structural-fiscal-constraint-120020101750_1.html
21. A disappointing budget
    https://www.business-standard.com/article/opinion/a-disappointing-budget-120020101840_1.html
22. Does Budget fulfils long-standing demands of start-ups ?
    https://www.opindia.com/2020/02/budget-2020-finance-minister-5-year-tax-holiday-esop-defer-startup/
23. Budget 2020 does little to address current economic slowdown

https://www.newindianexpress.com/business/2020/feb/05/budget-2021-does-little-to-address-current-economic-slowdown-2099212.html

24. Moody's says nominal GDP growth projections in Budget 2020 appear ambitious

https://www.business-standard.com/article/pti-stories/nominal-gdp-growth-projections-ambitious-given-structural-challenges-moody-s-120020401005_1.html

25. Can Budget plan double farmers’ income?

https://www.thehindubusinessline.com/opinion/can-budget-plan-double-farmers-income/article30736328.ece

26. Beyond numbers: Budget speech should have been fact-checked

https://www.business-standard.com/article/opinion/beyond-numbers-120020402059_1.html

27. A budget for the middle class?
    https://www.thehindu.com/opinion/op-ed/a-budget-for-the-middle-class/article30715737.ece

 

 

Public Finance

1. GST collection crosses Rs 1 lakh cr mark for third month in a row in January; in line with set target
2. https://www.firstpost.com/business/gst-collection-crosses-rs-1-lakh-cr-mark-for-third-month-in-a-row-in-january-in-line-with-set-target-7986931.html
3. Fiscal Deficit Challenges for Finance Minister
   https://www.newindianexpress.com/opinions/2020/feb/01/fiscal-deficit-challenge-for-finance-minister-2097402.html
4. Unmet tax target to cause fiscal slippage hints
   https://www.newindianexpress.com/business/2020/feb/01/unmet-tax-target-to-cause-fiscal-slippage-hints-cea-kv-subramanian-2097451.html
5. States’ tax share to stay at 42 percent 
   https://www.businesstoday.in/current/policy/share-of-states-in-central-taxes-raised-to-42-percent/story/216105.html
6. Not a full thali, only morsel for everyone
   https://www.thehindubusinessline.com/economy/budget/not-a-full-thali-only-morsels-for-everyone/article30715409.ece
7. F M uses fiscal spaces to spur the economy
   https://www.business-standard.com/budget/article/budget-2020-nirmala-sitharaman-uses-fiscal-space-to-spur-the-economy-120020101636_1.html
8. Immunity scheme for Direct Tax Disputes
   https://www.businesstoday.in/union-budget-2020/news/not-vivad-but-vishwas-direct-tax-amnesty-scheme-in-budget-aims-to-clear-disputes-worth-rs-9-41-lakh-crore/story/395282.html
9. Trust: The new mantra in tax policy
   https://www.business-standard.com/article/opinion/budget-2020-trust-the-new-mantra-in-tax-policy-120020101786_1.html
10. Towards a co-operative federalism
    https://www.thehindu.com/opinion/lead/towards-cooperative-federalism/article30729075.ece
11. Education should have received higher outlay
    https://www.thehindubusinessline.com/opinion/education-should-have-received-a-higher-outlay/article30727875.ece
12. Corporate tax to GDP ratio to be 13-year-low in FY20

https://www.newindianexpress.com/business/2020/feb/05/corporate-tax-to-gdp-ratio-to-be-13-yr-low-in-fy20-2099207.html

13. Continuity and fiscal follow-through

https://www.thehindu.com/opinion/lead/continuity-and-fiscal-follow-through/article30736905.ece

14. Tax collection targets: Has the Budget set the bar too high?

https://www.pressreader.com/india/the-hindu-business-line/20200205/281685436835027

15. Complicating the tax regime further

https://www.thehindu.com/opinion/op-ed/complicating-the-tax-regime-further/article30756313.ece

16. GST’s ‘inverted’ logic on refunds

https://www.thehindubusinessline.com/opinion/gsts-inverted-logic-on-refunds/article30759883.ece

17. Point is to raise growth without inflation

https://www.thehindubusinessline.com/opinion/point-is-to-raise-growth-without-inflation/article30754489.ece

 

Industry, Manufacturing, Services and Technology

1. Auto sector crisis: It's amber light for motown as demand unlikely to revive in FY21; revenue growth, margins to be subdued, says eport

https://www.firstpost.com/business/auto-sector-crisis-its-amber-light-for-motown-as-demand-unlikely-to-revive-in-fy21-revenue-growth-margins-to-be-subdued-says-eport-8023441.html

2. From Make in India to Assemble in India
   https://timesofindia.indiatimes.com/business/india-business/from-make-in-india-to-assemble-in-india/articleshow/73821300.cms
3. https://www.thehindubusinessline.com/economy/assemble-in-india-for-world-can-raise-export-market-by-6-per-cent-by-2030-economic-survey/article30701302.ece
4. Funding 1.4 trillion NIP is a challenge
   https://www.magzter.com/article/Newspaper/The-Hindu-Business-Line/Funding-14-Trillion-NIP-Is-A-Challenge
5. 100 new airports to take off by FY24, number of aircrafts to double to 1200
   https://www.thehindubusinessline.com/economy/logistics/100-new-airports-to-take-off-by-fy24/article30703376.ece
6. Core sector growth at 1.3 percent in December
   https://www.bloombergquint.com/economy-finance/core-sector-growth-recovers-to-1-3-pc-in-dec-2
7. LIC-IPO leads to Government sell off in FY 21
   https://www.business-standard.com/budget/article/lic-ipo-idbi-stake-sale-to-lead-govt-s-rs-2-1-trn-sell-off-drive-in-fy21-120020101682_1.html

 

Agriculture and Rural Economy

1. For Farmers Facing India's Biggest Locust Attack, Govt Provides Insufficient Relief

https://thewire.in/agriculture/india-locust-attack-relief-farmers

2. India's Import Tax Hike on Crude Palm Oil Has Only Added to the Industry's Confusion

https://thewire.in/agriculture/india-import-tax-crude-palm-oil-malaysia

3. Thinking beyond farm soups
   https://www.thehindu.com/opinion/op-ed/thinking-beyond-farm-sops/article30706291.ece
4. Control Distorts: Agri Markets
   https://economictimes.indiatimes.com/news/economy/agriculture/controls-distort-agricultural-markets/articleshow/73825476.cms
5. Essential commodities Act hamper development of farm market
   https://www.thehindubusinessline.com/markets/commodities/economic-survey-time-essential-commodities-act-revisited/article30701838.ece
6. How to improve crop insurance coverage
   https://www.thehindubusinessline.com/opinion/how-to-improve-crop-insurance-coverage/article30705320.ece
7. Budget: a mixed bag for farmers
   https://www.thehindubusinessline.com/opinion/budget-a-mixed-bag-for-farmers/article30727955.ece

 

Banking and Monetary Policy

1. RBI Holds Rates Steady As Expected Amid Accelerating Inflation

https://thewire.in/economy/rbi-holds-rates-steady-as-expected-amid-accelerating-inflation

2. How Long can RBI and LIC Bailout a Crisis-Ridden Fisc?

https://thewire.in/economy/budget-2020-fiscal-crisis-revenue-expenditure

3. ‘Das does a Draghi’ with Reserve Bank of India adopting unconventional tools

https://www.livemint.com/politics/policy/-das-does-a-draghi-with-reserve-bank-of-india-adopting-unconventional-tools-11581035635833.html

4. India needs to double credit growth to 15 pc to achieve USD 5 trn economy target by FY25: Bankers

https://www.livemint.com/industry/banking/india-needs-to-double-credit-growth-to-15-pc-to-achieve-usd-5-trn-economy-target-by-fy25-bankers-11581019095283.html

5. RBI has many other tools to revive growth, not just interest rates: Guv Das

https://www.livemint.com/politics/policy/rbi-has-many-other-tools-to-revive-growth-not-just-interest-rates-guv-das-11580973416496.html

6. RBI extends one-time restructuring scheme for MSME loans

https://www.livemint.com/industry/banking/rbi-extends-one-time-restructuring-scheme-for-msme-loans-11580972534743.html

7. RBI estimates GDP to expand at 6% in FY21

https://www.livemint.com/news/india/rbi-estimates-gdp-to-expand-at-6-in-fy21-11580971921121.html

8. RBI Policy: Rates unchanged, scope for future policy action

https://www.livemint.com/news/india/rbi-policy-rates-unchanged-scope-for-future-policy-action-11580963661949.html

9. Analysts expect RBI to hike rates in 2020

https://www.livemint.com/industry/banking/analysts-expect-rbi-to-hike-rates-in-2020-11580726741237.html

10. RBI monetary policy: Corporate India pitches for rate cut going forward; welcomes economy-boosting measures

https://www.firstpost.com/business/rbi-monetary-policy-corporate-india-pitches-for-rate-cut-going-forward-welcomes-economy-boosting-measures-8014721.html

11. RBI monetary policy: Central bank announces incentive for lending to MSME, home, auto sectors

https://www.firstpost.com/business/rbi-monetary-policy-central-bank-announces-incentive-for-lending-to-msme-home-auto-sectors-8010711.html

12. There is more space for intervention on the monetary front than fiscal front
    https://www.thehindu.com/news/national/theres-more-space-for-intervention-on-monetary-front-than-fiscal-front-says-sanjeet-sanyal/article30705409.ece
13. Bigger banks need for $5 trillion economy
    https://www.thehindu.com/business/Economy/economic-survey-2019-20-bigger-banks-needed-for-5-trillion-economy/article30706141.ece
    https://www.business-standard.com/article/economy-policy/india-must-have-at-least-six-banks-in-top-100-global-list-economic-survey-120020100028_1.html
14. Banks and some financial institutions reported 1.13 lakh crore frauds in H1
    https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-select-financial-institutions-report-frauds-involving-rs-1-13-lakh-crore-in-h1-of-fy20-nirmala-sitharaman/articleshow/73900818.cms?from=mdr
15. Digital payments through IMPS, UPI and BHIM record high in January
    https://www.thehindubusinessline.com/money-and-banking/digital-payments-through-imps-upi-and-bhim-at-record-high-in-january/article30727710.ece
16. RBI does what Budget could not

https://www.business-standard.com/article/opinion/rbi-does-what-budget-could-not-120020601893_1.html

17. Beyond rate cuts: RBI's focus now is on improving transmission and lending

https://www.business-standard.com/article/opinion/beyond-rate-cuts-120020601975_1.html

18. RBI's new twist: Making retail loans cheaper without cutting policy rate

https://www.thehindubusinessline.com/money-and-banking/rbi-keeps-repo-rate-unchanged-at-515/article30748760.ece

19. How the RBI is seeking to reduce lending rates without lowering repo

https://www.thehindubusinessline.com/money-and-banking/how-the-rbi-is-seeking-to-reduce-lending-rates-without-lowering-repo/article30752736.ece

20. Monetary policy review: RBI extends helping hand to MSMEs, realtors

https://www.business-standard.com/article/economy-policy/monetary-policy-review-rbi-extends-helping-hand-to-msmes-realtors-120020601841_1.html

21. Listening to the call of the informal

https://www.thehindu.com/opinion/lead/listening-to-the-call-of-the-informal/article30755107.ece

22. RBI readying itself for a long rate freeze?

https://www.newindianexpress.com/opinions/editorials/2020/feb/07/rbi-readying-itself-for-a-long-rate-freeze-2100091.html

23. On the front foot: On RBI holding rates

https://www.thehindu.com/opinion/editorial/on-the-front-foot-the-hindu-editorial-on-rbi-holding-rates/article30755065.ece

24. Cooperative banks to come under RBI watch
    https://economictimes.indiatimes.com/markets/stocks/news/cooperative-banks-to-come-under-rbi-watch/articleshow/73973968.cms
25. Early warning signals on tax revenue

https://www.pressreader.com/india/business-standard/20200206/281994674482428

 

India forum

1. What do Workers Hope for? Let’s create a way of work that affirms life

https://www.theindiaforum.in/article/what-do-workers-hope

 

External Sector

1. BoP improves, but trade worries remain
   https://www.thehindubusinessline.com/economy/trade-bop-improves-but-concerns-remain/article30705481.ece
2. What Brexit mean for EU and its partners
   https://www.thehindu.com/opinion/op-ed/what-brexit-means-for-the-eu-and-its-partners/article30729110.ece
3. Overall India has benefited from free-trade agreements
   https://www.thehindubusinessline.com/economy/india-has-benefited-overall-from-free-trade-agrrements/article30705435.ece
4. US pushing for trade deal that will hurt India

https://www.thehindubusinessline.com/opinion/columns/us-pushing-for-trade-deal-that-will-hurt-india/article30754484.ece

 

Columns by Joseph Stiglitz and Paul Krugman

1. The Triumph of Fiscal Hypocrisy: What we can learn from Trump’s deficitpalooza.

https://www.nytimes.com/2020/02/06/opinion/economy-republicans-deficit.html