Weekly Updates on the Indian Economy
(11/07/2020 to 18/07/2020)
- National Accounts and State of the Economy
- From most optimistic to pessimistic: Here're FY21 GDP growth projections
https://www.business-standard.com/article/economy-policy/from-most-optimistic-to-pessimistic-here-re-fy21-gdp-growth-projections-120071201086_1.html
- India's FY21 GDP growth to be in negative territory at -4.5%: Ficci survey
https://www.business-standard.com/article/economy-policy/india-s-fy21-gdp-growth-to-be-in-negative-territory-at-4-5-ficci-survey-120071200584_1.html
- India GDP to fall 7.5% if Covid-19 vaccine delayed, 4% in base case: Report
https://www.business-standard.com/article/economy-policy/india-gdp-to-fall-7-5-if-covid-19-vaccine-delayed-4-in-base-case-report-120071300590_1.html
- India's sex ratio at birth improves; Delhi the worst-performing state
https://www.business-standard.com/article/economy-policy/india-s-sex-ratio-at-birth-improves-delhi-the-worst-performing-state-120071100038_1.html
- Over 55 million households demand work under MGNREGA this year so far
https://www.business-standard.com/article/economy-policy/over-55-million-households-demand-work-under-mgnrega-this-year-so-far-120071400372_1.html
- WPI falls for straight third month in June, but food inflation rises
https://www.business-standard.com/article/economy-policy/wpi-falls-for-straight-third-month-in-june-but-food-inflation-rises-120071400561_1.html
- July data indicates consumption may be stagnating amid Covid-19 crisis
https://www.business-standard.com/article/economy-policy/july-data-indicates-consumption-may-be-stagnating-amid-covid-19-crisis-120071500025_1.html
- Government has to do ‘leap of faith’ now, says Pronab Sen
https://www.thehindubusinessline.com/economy/government-has-to-do-leap-of-faith-now-says-pronab-sen/article32075779.ece
- China has its work cut out: India to be world's largest employer in 2100
https://www.business-standard.com/article/economy-policy/china-has-its-work-cut-out-india-to-be-world-s-largest-employer-in-2100-120071500071_1.html
- Why economists aren't buying PM Modi's high-decibel spiel on green shoots
https://www.business-standard.com/article/economy-policy/why-economists-aren-t-buying-pm-modi-s-high-decibal-spiel-on-green-shoots-120071501478_1.html
- India's Covid test eats into a fourth of an average person's monthly income.
https://www.business-standard.com/article/economy-policy/india-s-covid-test-eats-into-a-fourth-of-an-average-person-s-monthly-income-120071501557_1.html
- Why remittance-dependent states must help recruiting agencies survive
https://www.business-standard.com/article/economy-policy/why-remittance-dependent-states-must-help-recruiting-agencies-survive-120071600361_1.html
- With inflation in India ticking higher it may be time for RBI to pause
https://www.business-standard.com/article/economy-policy/with-inflation-in-india-ticking-higher-it-may-be-time-for-rbi-to-pause-120071600578_1.html
- Capital infusion in 3 state-owned insurers 'credit positive': Moody's
https://www.business-standard.com/article/economy-policy/capital-infusion-in-3-state-owned-insurers-credit-positive-moody-s-120071600795_1.html
- Icra sharply revises forecast, expects economy to shrink by 9.5% in FY21
https://www.business-standard.com/article/economy-policy/icra-sharply-revises-forecast-expects-economy-to-shrink-by-9-5-in-fy21-120071601129_1.html
- CPI-based inflation rose to 6.1% in June; food inflation eased to 7.9%
https://www.business-standard.com/article/economy-policy/cpi-based-inflation-rose-to-6-1-in-june-food-inflation-eased-to-7-9-120071400051_1.html
- Google announces $10 billion India Digitization Fund
https://www.thehindu.com/news/national/pm-modi-googles-pichai-discuss-how-tech-can-transform-lives/article32065016.ece
- Google’s India Digitisation Fund can give vernacular computing a boost
https://www.thehindubusinessline.com/opinion/columns/from-the-viewsroom/googles-india-digitisation-fund-can-give-vernacular-computing-a-boost/article32080723.ece
- ‘Retail inflation likely to remain elevated in coming months’
https://www.thehindu.com/business/retail-inflation-likely-to-remain-elevated-in-coming-months/article32106573.ece
- Covid-19: Why casual workers and the self-employed are most likely to lose their work and incomes
https://www.thehindubusinessline.com/economy/covid-19-why-casual-workers-and-the-self-employed-are-most-likely-to-lose-their-work-and-incomes/article32101097.ece
- What Google data tells us about India’s economic recovery
https://theprint.in/economy/what-google-data-tells-us-about-indias-economic-recovery/458616/
- Coronavirus succeeds where demonetisation failed as Indians dump cash for digital payments
https://theprint.in/economy/coronavirus-succeeds-where-demonetisation-failed-as-indians-dump-cash-for-digital-payments/459599/
- Indian business outlook is the worst in the world, survey finds
https://theprint.in/economy/indian-business-outlook-is-the-worst-in-the-world-survey-finds/459722/
- The next 3 months will reveal how badly global economy has been hit by coronavirus
https://theprint.in/economy/the-next-3-months-will-reveal-how-badly-global-economy-has-been-hit-by-coronavirus/460211/
- Forced to Return from the Gulf, Migrants in Kerala Are Wondering What Comes Next
https://thewire.in/labour/kerala-migrants-gulf-covid-19
- ‘Catastrophic migrant crisis set us back 15 years’: Santosh Mehrotra on India’s giant jobs challenge
https://scroll.in/article/967042/catastrophic-migrant-crisis-set-us-back-15-years-santosh-mehrotra-on-indias-giant-jobs-challenge
- Coronavirus: Indian economy showing signs of returning to normalcy, says RBI governor
https://scroll.in/latest/967264/coronavirus-indian-economy-showing-signs-of-returning-to-normalcy-says-rbi-governor
- What the government wanted to do with our money but didn’t (but may still want to)
https://scroll.in/article/967537/what-the-government-wanted-to-do-with-our-money-but-didnt-but-may-still-want-to
- Explainer: Why Google and Facebook are investing in Mukesh Ambani’s Reliance Jio
https://scroll.in/article/967618/explainer-why-google-and-facebook-are-investing-in-mukesh-ambanis-reliance-jio
- 82.33% working professionals seek Government jobs: Report
https://www.thehindubusinessline.com/economy/8233-per-cent-working-professionals-seek-government-jobs-report/article32049590.ece
- Opinion | India’s economy needs a way out of short boom-and-bust cycles
https://www.livemint.com/opinion/columns/india-s-economy-needs-a-way-out-of-short-boom-and-bust-cycles-11594655054709.html
- Opinion | A look back at earlier debates may guide our economy ahead
https://www.livemint.com/opinion/columns/a-look-back-at-earlier-debates-may-guide-our-economy-ahead-11594737134862.html
- The Lockdown Revealed the Extent of Poverty and Misery Faced by Migrant Workers
https://thewire.in/labour/covid-19-poverty-migrant-workers
- Public Finance
- PMO, FinMin to discuss revenue position and ways to augment receipts
https://www.business-standard.com/article/economy-policy/pmo-finmin-to-discuss-revenue-position-and-ways-to-augment-receipts-120071300036_1.html
- Health spend of some states as percentage of GSDP has fallen in past decade
https://www.business-standard.com/article/economy-policy/health-spend-of-some-states-percentage-of-gsdp-has-dropped-in-past-decade-120071501519_1.html
Taxation
- I-T dept pares relief to taxpayers as revenue mop-up thins amid lockdown
https://www.business-standard.com/article/economy-policy/i-t-dept-pares-relief-to-taxpayers-as-revenue-mop-up-thins-amid-lockdown-120071301263_1.html
- CBIC extends deadline for re-import of cut, polished diamonds by 3 months
https://www.business-standard.com/article/economy-policy/cbic-extends-deadline-for-re-import-of-cut-polished-diamonds-by-3-months-120071300019_1.html
- Digital strike: US may take trade action against India for Google tax
https://www.business-standard.com/article/economy-policy/taxing-times-india-may-face-us-tariffs-similar-to-france-say-experts-120071300039_1.html
- Making India a hub of global financial services: So close, yet so far
https://www.business-standard.com/article/opinion/making-india-a-hub-of-global-financial-services-so-close-yet-so-far-120071200664_1.html
- Sanitisers are disinfectants like soaps, dettol; attract 18% GST: FinMin
https://www.business-standard.com/article/economy-policy/sanitisers-are-disinfectants-like-soaps-dettol-attract-18-gst-finmin-120071501199_1.html
- A tale of two taxes
https://www.business-standard.com/article/opinion/a-tale-of-two-taxes-120071500041_1.html
- Are the Indian rich immune to the ‘tax us’ syndrome
https://www.thehindubusinessline.com/opinion/columns/the-cheat-sheet/are-the-indian-rich-immune-to-the-tax-us-syndrome/article32093214.ece
- A long battle ahead on equalisation levy
https://www.thehindubusinessline.com/opinion/columns/a-long-battle-ahead-on-equalisation-levy/article32092583.ece
- Covid-19 taxes prompt tipplers to go for cheaper, local alternatives: Survey
https://www.livemint.com/industry/retail/covid-19-taxes-prompt-tipplers-to-go-for-cheaper-local-alternatives-survey-11594747638474.html
- Equalisation levy on e-commerce firms: Govt says tax in line with WTO rules
https://www.business-standard.com/article/economy-policy/equalisation-levy-on-e-commerce-firms-govt-says-tax-in-line-with-wto-rules-120071700057_1.html
- Banking and Monetary policy
- RBI Governor Shaktikanta Das asks banks to raise capital in advance, build buffers to ensure credit flow
https://www.thehindu.com/business/Economy/rbi-governor-shaktikanta-das-asks-banks-to-raise-capital-in-advance-build-buffers-to-ensure-credit-flow/article32050333.ece
- RBI’s March rate cut was biggest surprise in history of monetary policy panel, paper says
https://theprint.in/economy/rbis-march-rate-cut-was-biggest-surprise-in-history-of-monetary-policy-panel-paper-says/459726/
- Assumption of rate cut delivering growth simply not working: Rathin Roy
https://www.business-standard.com/article/economy-policy/assumption-of-rate-cut-delivering-growth-simply-not-working-rathin-roy-120071100982_1.html
- Nabard to give banks refinance of Rs 5,000 cr to support watershed projects
https://www.business-standard.com/article/economy-policy/nabard-to-give-banks-refinance-of-rs-5-000-cr-to-support-watershed-projects-120071301205_1.html
- Raghuram Rajan warns against 'unprecedented' rise in NPA levels in 6 months
https://www.business-standard.com/article/economy-policy/former-rbi-governor-raghuram-rajan-warns-against-unprecedented-npa-level-120071401847_1.html
- Abundant liquidity kept short-term rates soft: RBI bulletin
https://www.thehindu.com/business/abundant-liquidity-kept-short-term-rates-soft-rbi-bulletin/article32071354.ece
- Why lower borrowing costs can’t save India’s crisis-hit NBFCs
https://theprint.in/economy/why-lower-borrowing-costs-cant-save-indias-crisis-hit-nbfcs/461063/
- Credibility of India’s statistics back in question over official inflation data
https://theprint.in/economy/credibility-of-indias-statistics-back-in-question-over-official-inflation-data/462232/
- Indians are yet to fully receive the benefits of RBI’s coronavirus relief measures
https://scroll.in/article/967182/indians-are-yet-to-fully-receive-the-benefits-of-rbis-coronavirus-relief-measures
- Q1 earnings may be muted for banking sector
https://www.livemint.com/industry/banking/q1-earnings-may-be-muted-for-banking-sector-11594574076006.html
- Digital lenders focus on existing customers as uncertainty continues
https://www.livemint.com/industry/banking/digital-lenders-focus-on-existing-customers-as-uncertainty-continues-11594726130683.html
- Risk-averse digital lenders focus on existing borrowers
https://www.livemint.com/industry/banking/risk-averse-digital-lenders-focus-on-existing-borrowers-11594775564957.html
- Indian banks are in for a ₹20-trillion hole
https://www.livemint.com/industry/banking/indian-banks-are-in-for-a-20-trillion-hole-11594908292074.html
- Indian banks boost holdings of corporate notes to record high
https://www.livemint.com/industry/banking/indian-banks-boost-holdings-of-corporate-notes-to-record-high-11594942778952.html
- RBI issues Fair Practice Code guidelines for ARC
https://www.thehindu.com/business/Economy/rbi-issues-fair-practice-code-guidelines-for-arc/article32101774.ece
- External Sector
- From textiles to furniture, 350 items may face non-tariff barriers
https://www.business-standard.com/article/economy-policy/from-textiles-to-furniture-350-items-may-face-non-tariff-barriers-120071100064_1.html
- Indian industry welcomes UK govt's post-Brexit immigration regime
https://www.business-standard.com/article/economy-policy/indian-industry-welcomes-uk-govt-s-post-brexit-immigration-regime-120071301392_1.html
- FDI reforms needed more than opening up of sectors, say experts
https://www.business-standard.com/article/economic-revival/fdi-reforms-needed-more-than-opening-up-of-sectors-say-experts-120071301649_1.html
- DPIIT to approach govt for 74% FDI in defence through auto route: Report
https://www.business-standard.com/article/economy-policy/dpiit-to-approach-govt-for-74-fdi-in-defence-through-auto-route-sources-120071300986_1.html
- India posts first trade surplus in 18 years as coronavirus hits imports
https://www.business-standard.com/article/economy-policy/india-posts-first-trade-surplus-in-18-years-as-coronavirus-hits-imports-120071501278_1.html
- India-Europe Summit: High level ministerial talks to push trade, investment
https://www.business-standard.com/article/economy-policy/india-europe-summit-high-level-ministerial-talks-to-push-trade-investment-120071501559_1.html
- India, EU adopt declaration on moving towards more circular economic model
https://www.business-standard.com/article/economy-policy/india-eu-adopt-declaration-on-moving-towards-more-circular-economic-model-120071501719_1.html
- India urges WTO members to reconsider moratorium on duties on e-commerce
https://www.business-standard.com/article/economy-policy/india-urges-wto-members-to-reconsider-moratorium-on-duties-on-e-commerce-120071501898_1.html
- Drop in Chinese exports to US didn't help India, says Rabobank report
https://www.business-standard.com/article/economy-policy/drop-in-chinese-exports-to-us-didn-t-help-india-says-rabobank-report-120071600093_1.html
- Relocation of supply chains from China to benefit India the most: Nomura
https://www.business-standard.com/article/economy-policy/relocation-of-supply-chains-from-china-to-benefit-india-the-most-nomura-120071601266_1.html
- India bats for inking limited trade deal with US during trade meet
https://www.business-standard.com/article/economy-policy/indo-us-trade-deal-will-have-to-wait-for-us-presidential-elections-120071601603_1.html
- Understanding India's FDI flows
https://www.business-standard.com/article/opinion/understanding-india-s-fdi-flows-120071500057_1.html
- Opinion | The China bogey gets raised too often to cover economic failure
https://www.livemint.com/opinion/online-views/the-china-bogey-gets-raised-too-often-to-cover-economic-failure-11594562466261.html
- Opinion | We need policy clarity on import substitution
https://www.livemint.com/opinion/online-views/we-need-policy-clarity-on-import-substitution-11594656708559.html
- Agriculture and Rural Economy
- Rice output may hit record high as farmers expand area after vigorous rains
https://www.business-standard.com/article/economy-policy/rice-output-may-hit-record-high-as-farmers-expand-area-after-vigorous-rains-120071100690_1.html
- Kharif sowing 44% more than last year, southwest monsoon to boost further
https://www.business-standard.com/article/economy-policy/kharif-sowing-44-more-than-last-year-southwest-monsoon-to-boost-further-120071100048_1.html
- India needs to leverage performance of farm sector to push growth: Subbarao
https://www.business-standard.com/article/economy-policy/india-needs-to-leverage-performance-of-farm-sector-to-push-growth-subbarao-120071401813_1.html
- ‘We need to cut down on the use of land, water and fertilisers’
https://www.thehindubusinessline.com/economy/agri-business/we-need-to-cut-down-on-the-use-of-land-water-and-fertilisers/article32045834.ece
- Financing the food chain: Challenges to ensure India remains hunger-free
https://www.business-standard.com/article/economy-policy/financing-the-food-chain-120071401692_1.html
- India set to make PDS location independent: NITI Aayog CEO at UN forum
https://www.business-standard.com/article/economy-policy/india-set-to-make-pds-location-independent-niti-aayog-ceo-at-un-forum-120071500983_1.html
- Tomato prices rise to ₹70/kg in Delhi
https://www.livemint.com/industry/agriculture/tomato-prices-rise-to-rs-70-kg-in-delhi-11594558693708.html
- Sugar prices command 3-6% premium over MSP on hopes of hike in floor price
https://www.business-standard.com/article/economy-policy/sugar-prices-command-3-6-premium-over-msp-on-hopes-of-hike-in-floor-price-120071501350_1.html
- Tea production may fall 13% this fiscal due to labour shortages: Report
https://www.business-standard.com/article/economy-policy/tea-production-may-fall-13-this-fiscal-due-to-labour-shortages-report-120071501312_1.html
- Flour millers urge govt to cut in wheat sale price from FCI stocks
https://www.business-standard.com/article/economy-policy/flour-millers-urge-govt-to-cut-in-wheat-sale-price-from-fci-stocks-120071501442_1.html
- Weather models don’t invest much in fresh monsoon pulse
https://www.thehindubusinessline.com/economy/agri-business/weather-models-dont-invest-much-in-fresh-monsoon-pulse/article32090939.ece
- Mixed trend in spot rubber
https://www.thehindubusinessline.com/economy/agri-business/mixed-trend-in-spot-rubber/article32093126.ece
- Rising pepper imports add to Indian growers’ woes
https://www.thehindubusinessline.com/economy/agri-business/rising-pepper-imports-add-to-indian-growers-woes/article32099571.ece
- Agriculture has emerged as the bright spot in a gloomy economy
https://www.thehindubusinessline.com/opinion/editorial/agriculture-has-emerged-as-the-bright-spot-in-a-gloomy-economic-scenario/article32059509.ece
- Prometheus Unbound: India Must Look to the Farmer for Way Forward.
https://thewire.in/agriculture/coronavirus-lockdown-economy-agriculture-way-forward
- How India Can Leverage Surplus Food Grain to Expand PDS Without Sacrificing Fiscal Prudence
https://thewire.in/economy/how-india-can-leverage-surplus-food-grain-to-expand-pds-without-sacrificing-fiscal-prudence
- South Asian farmers are back in the fields despite high costs, labour shortage and a pandemic
https://scroll.in/article/966753/south-asian-farmers-are-back-in-the-fields-despite-high-costs-labour-shortage-and-a-pandemic
- Industry, Manufacturing, Services and Technology
- Many MSMEs are approaching banks for collateral-free loans: Survey
https://www.business-standard.com/article/economy-policy/many-msmes-are-approaching-banks-for-collateral-free-loans-survey-120071200730_1.html
- 'Duty-free' hits a fifth of manufacturing imports, says WTO report
https://www.business-standard.com/article/economy-policy/duty-free-hits-a-fifth-of-manufacturing-imports-says-wto-report-120071201035_1.html
- Save MSMEs from closure to protect country's industrial capital: economists
https://www.business-standard.com/article/economy-policy/save-msmes-from-closure-to-protect-country-s-industrial-capital-economists-120071401502_1.html
- Gadkari asks industry to join hands with govt to rescue Covid-hit economy
https://www.business-standard.com/article/economy-policy/gadkari-asks-industry-to-join-hands-with-govt-to-rescue-covid-hit-economy-120071601031_1.html
- Electricity output recovers in first half of July as economy opens up
https://www.business-standard.com/article/economy-policy/electricity-output-recovers-in-first-half-of-july-as-economy-opens-up-120071601170_1.html
- NITI Aayog pushes mandatory use of 25% recycled material in infra projects
https://www.business-standard.com/article/economy-policy/niti-aayog-pushes-mandatory-use-of-25-recycled-material-in-infra-projects-120071601308_1.html
- Needed: An ecosystem to nurture ingenuity
https://www.business-standard.com/article/opinion/needed-an-ecosystem-to-nurture-ingenuity-120071600028_1.html
- How FMCG firms reinventing distribution strategies to beat Covid-19 blues
https://www.thehindubusinessline.com/economy/how-fmcg-firms-reinventing-distribution-strategies-to-beat-covid-19-blues/article32082940.ece
- Goyal assures industry of resolving issues related to local taxes
https://www.thehindubusinessline.com/economy/policy/goyal-assures-industry-of-resolving-issues-related-to-local-taxes/article32105320.ece
- As Indians put off international travel, the winner will be the local tourism industry
https://scroll.in/article/967078/as-indians-put-off-international-travel-the-winner-will-be-the-local-tourism-industry
- Urban Indians care more about a product’s price and quality than if it is ‘made in India’
https://scroll.in/article/967570/urban-indians-care-more-about-a-products-price-and-quality-than-if-it-is-made-in-india
- India ranks 3rd in global manufacturing locations among 48 countries
https://www.livemint.com/industry/manufacturing/india-ranks-3rd-in-global-manufacturing-locations-among-48-countries-11594904464444.html
- Restaurants open but grapple with decreased sales, few dine-in customers
https://www.livemint.com/industry/retail/restaurants-open-but-grapple-with-decreased-sales-few-dine-in-customers-11594536072813.html
- Opinion | A plan for us to create a globally competitive industrial sector
https://www.livemint.com/opinion/columns/a-plan-for-us-to-create-a-globally-competitive-industrial-sector-11594563506971.html
- Opinion | A pivot from industrial to the information age
https://www.livemint.com/opinion/online-views/a-pivot-from-industrial-to-the-information-age-11594915609245.html
- Innovative financing will be key to restoring public transport
https://www.livemint.com/opinion/online-views/innovative-financing-will-be-key-to-restoring-public-transport-11594723253127.html
- Columns by Paul Krugman
- Opinion | America Drank Away Its Children’s Future
https://www.nytimes.com/2020/07/13/opinion/coronavirus-schools-bars.html
- Punishing the Unemployed - The New York Times
https://www.nytimes.com/2010/07/05/opinion/05krugman.html
- Other Articles/ Columns
- Some economies are bouncing back. But recoveries can easily go wrong
https://www.economist.com/finance-and-economics/2020/07/11/some-economies-are-bouncing-back-but-recoveries-can-easily-go-wrong
- The race to lead the WTO begins
https://www.economist.com/finance-and-economics/2020/07/11/the-race-to-lead-the-wto-begins
- The row over taxing tech firms heats up
https://www.economist.com/finance-and-economics/2020/07/18/the-row-over-taxing-tech-firms-heats-up
- What Wall Street’s results tell you about America’s economy
https://www.economist.com/finance-and-economics/2020/07/18/what-wall-streets-results-tell-you-about-americas-economy
- How big is China’s economy? Let the Big Mac decide
https://www.economist.com/finance-and-economics/2020/07/18/how-big-is-chinas-economy-let-the-big-mac-decide
- China’s world-beating growth rate of...3.2%
https://www.economist.com/finance-and-economics/2020/07/18/chinas-world-beating-growth-rate-of32
- Housing was the business cycle
https://www.economist.com/finance-and-economics/2020/07/18/housing-was-the-business-cycle
- Economic and Political Weekly
Commentary
- COVID-19 and Dwindling Indian Federalism
https://www.epw.in/journal/2020/26-27/commentary/covid-19-and-dwindling-indian-federalism.html
- Essential before the Pandemic
Migrant Labour and the Politics of Language
https://www.epw.in/journal/2020/26-27/commentary/essential-pandemic.html
- Social Security for Migrant Workers during COVID-19
https://www.epw.in/journal/2020/26-27/commentary/social-security-migrant-workers-during-covid-19.html
Special Articles
- Analysing Disparities in Access to Urban Basic Services under Decentralised Governance: Evidence from West Bengal
https://www.epw.in/journal/2020/26-27/special-articles/analysing-disparities-access-urban-basic-services.html
- Growth and Structural Change in the Indian Economy
An Analysis of Pattern, Determinants, and Outcomes
https://www.epw.in/journal/2020/26-27/special-articles/growth-and-structural-change-indian-economy.html
- Farmer Suicides in Maharashtra, 2001–2018
Trends across Marathwada and Vidarbha
https://www.epw.in/journal/2020/25/special-articles/farmer-suicides-maharashtra-2001-2018.html
- Decoding Ayushman Bharat
A Political Economy Perspective
https://www.epw.in/journal/2020/25/special-articles/decoding-ayushman-bharat.html
Print Sources: The Hindu, The Hindu Business Line, Business Standard
Online Sources: Livemint, Scroll.in, First Post, The Wire, The Print, The India Forum, Newyork Times, The Guardian
Journals: Economic and Political Weekly, The Economist