Weekly Updates on the Indian Economy

(31/10/2020 to 06/11/2020)

1. National Accounts and State of the Economy

 

1. India Inc needs to respond to various reforms undertaken by govt, says CEA

https://www.business-standard.com/article/economy-policy/india-inc-needs-to-respond-to-various-reforms-undertaken-by-govt-says-cea-120103001599_1.html

 

2. Kerala, Goa, Chandigarh best governed states and union territory, says PAC

https://www.business-standard.com/article/economy-policy/kerala-goa-chandigarh-best-governed-states-and-union-territory-says-pac-120103100062_1.html

 

3. Jobless rate in urban areas fell to 7.9% in Q3 of last year, shows data

https://www.business-standard.com/article/economy-policy/jobless-rate-in-urban-areas-fell-to-7-9-in-q3-of-last-year-shows-data-120103100065_1.html

 

4. Bumper harvests, healthy stockpiles but coronavirus world is undernourished

https://www.business-standard.com/article/economy-policy/bumper-harvests-healthy-stockpiles-but-coronavirus-world-is-undernourished-120110100050_1.html

 

5. Indian economy set to bounce back, emerge stronger from Covid crisis: Ficci

https://www.business-standard.com/article/economy-policy/indian-economy-set-to-bounce-back-emerge-stronger-from-covid-crisis-ficci-120110200111_1.html

 

6. India's October unemployment rate climbs up to 6.98%, CMIE data shows

https://www.business-standard.com/article/economy-policy/india-s-october-unemployment-rate-climbs-up-to-6-98-cmie-data-shows-120110200183_1.html

 

7. WFH flattening socio-economic curve by creating buoyancy in rural India: Cisco

https://www.thehindubusinessline.com/economy/wfh-flattening-socio-economic-curve-by-creating-buoyancy-in-rural-india-cisco/article32985797.ece

 

8. 70% of households paid 25-100% more for tomato, potato and onion this year: Survey

https://www.thehindubusinessline.com/economy/70-of-households-paid-25-100-more-for-tomato-potato-and-onion-this-year-survey/article33000987.ece

 

9. Reinforcing RBI’s accountability

https://www.thehindu.com/todays-paper/tp-opinion/reinforcing-rbis-accountability/article33007448.ece

 

10. The nutrition fallout of school closures

https://www.thehindu.com/todays-paper/tp-opinion/the-nutrition-fallout-of-school-closures/article33007453.ece

 

11. Manmohan Singh: shed economic orthodoxy

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/manmohan-singh-shed-economic-orthodoxy/article33018449.ece

 

12. Fixing the rules of the economy

https://www.thehindu.com/todays-paper/tp-opinion/fixing-the-rules-of-the-economy/article33026143.ece

 

13. Growing divergence between China and ‘Developing Asia’

https://www.thehindubusinessline.com/opinion/columns/c-p-chandrasekhar/growing-divergence-between-china-and-developing-asia/article33005304.ece

 

14. Economic reforms now a sideshow, Modi govt focused on other priorities, says ex-FinSec Garg

https://theprint.in/economy/economic-reforms-now-a-sideshow-modi-govt-focused-on-other-priorities-says-ex-finsec-garg/534581/

 

15. India’s economy to bounce back & emerge stronger from Covid crisis, says FICCI President

https://theprint.in/economy/indias-economy-to-bounce-back-emerge-stronger-from-covid-crisis-says-ficci-president/535030/

 

16. This Indian banker is the world’s best, says The Economist

https://theprint.in/economy/this-indian-banker-is-the-worlds-best-says-the-economist/536042/

 

17. ‘GDP will be higher than forecast this year’

https://www.thehindu.com/todays-paper/tp-business/gdp-will-be-higher-than-forecast-this-year/article33026131.ece

 

18. Will consumer be the economy’s white knight?

https://www.thehindubusinessline.com/opinion/columns/will-consumer-be-the-economys-white-knight/article33023892.ece

 

19. Economy to reach pre-Covid levels by fiscal end: FinMin

https://www.thehindubusinessline.com/economy/indian-economy-poised-to-recover-at-a-fast-pace-reach-pre-covid-levels-by-fiscal-end-finmin-report/article33023691.ece

 

20. ‘46% of people borrowed money to run households during lockdown’

https://www.thehindubusinessline.com/money-and-banking/46-people-borrowed-money-to-run-their-households-during-covid-times-reveals-home-credit-india-research/article33018717.ece

 

21. Employees might see better salary hikes in 2021 as companies bet on high consumer demand

https://theprint.in/economy/employees-might-see-better-salary-hikes-in-2021-as-companies-bet-on-high-consumer-demand/537100/

 

22. Do recent indicators hint at a real economic revival?

https://www.thehindu.com/todays-paper/tp-opinion/do-recent-indicators-hint-at-a-real-economic-revival/article33034664.ece

 

23. Economy will be back to pre-Covid levels by FY22-end: C Rangarajan

https://www.thehindubusinessline.com/economy/economy-will-be-back-to-pre-covid-levels-by-fy22-end-c-rangarajan/article33031260.ece

 

24. Why Modi needs his version of ‘New Deal’

https://www.thehindubusinessline.com/opinion/columns/why-modi-needs-his-version-of-new-deal/article33031791.ece

 

25. India is vulnerable to a liquidity trap of its own

https://www.livemint.com/opinion/online-views/india-is-vulnerable-to-a-liquidity-trap-of-its-own-11604414479869.html

 

26. Our urban poor need help in the form of an employment scheme

https://www.livemint.com/opinion/online-views/our-urban-poor-need-help-in-the-form-of-an-employment-scheme-11604246601961.html

 

27. Covid-19 rewrites the inequality, poverty dynamics

https://www.livemint.com/opinion/columns/covid-19-rewrites-the-inequality-poverty-dynamics-11604285129234.html

 

2. Public Finance

 

28. 15th finance panel finalises recommendations, to submit report on Nov 9

https://www.business-standard.com/article/economy-policy/15th-finance-panel-finalises-recommendations-to-submit-report-on-nov-9-120103100058_1.html

 

29. Tax mop-up showing signs of pick up, economy on revival path: Finance Secy

https://www.business-standard.com/article/economy-policy/tax-mop-up-showing-signs-of-pick-up-economy-on-revival-path-finance-secy-120110100445_1.html

 

30. Freight loading up by 15%, revenue by 9% this Oct as against Oct '19: Rlys

https://www.business-standard.com/article/economy-policy/freight-loading-up-by-15-revenue-by-9-this-oct-as-against-oct-19-rlys-120110100532_1.html

 

31. Statsguru: Rough terrain for states amid slowing economy hit by Covid-19

https://www.business-standard.com/article/economy-policy/statsguru-rough-terrain-for-states-amid-slowing-economy-hit-by-covid-19-120110100689_1.html

 

32. Bad debt will hinder India's economic recovery: Ex-RBI Guv Subbarao

https://www.business-standard.com/article/economy-policy/bad-debt-will-hinder-india-s-economic-recovery-ex-rbi-guv-subbarao-120110200244_1.html

 

33. We’ve to finely balance deficit and the need for stimulus: FM Nirmala Sitharaman

https://www.thehindubusinessline.com/economy/weve-to-finely-balance-deficit-and-the-need-for-stimulus-fm-nirmala-sitharaman/article32976030.ece

 

34. 15th Finance Commission ends deliberation, devolution formulae

https://www.thehindubusinessline.com/economy/15th-finance-commission-ends-deliberation-devolution-formulae/article32984017.ece

 

35. ‘FinMin expects uptick in economy to hold, will announce next stimulus soon’

https://www.thehindubusinessline.com/economy/finmin-expects-uptick-in-economy-to-hold-will-announce-next-stimulus-soon/article33015614.ece

 

36. RBI’s fuzzy focus on State finances

https://www.thehindubusinessline.com/opinion/rbis-fuzzy-focus-on-state-finances/article33015255.ece

 

37. The financial capacity of States is being weakened

https://www.thehindu.com/todays-paper/tp-opinion/the-financial-capacity-of-states-is-being-weakened/article33026146.ece

 

38. Worried about fiscal deficit blowout, Modi govt is cutting back on capital expenditure

https://theprint.in/economy/worried-about-fiscal-deficit-blowout-modi-govt-is-cutting-back-on-capital-expenditure/537459/

 

39. Higher budget deficit looms as govt cuts spending on growth drivers

https://www.business-standard.com/article/economy-policy/higher-budget-deficit-looms-as-govt-cuts-spending-on-growth-drivers-120110500163_1.html

 

40. Why states should find newer resources rather than cut back on spending

https://www.business-standard.com/article/opinion/a-union-of-fiscally-feeble-states-120110400018_1.html

 

41. Why the fifteenth finance commission report merits a proper discussion

https://www.business-standard.com/article/opinion/a-plea-for-partnership-120110600072_1.html

 

42. Fiscal policy must play a bigger role to keep our economy going

https://www.livemint.com/opinion/columns/fiscal-policy-must-play-a-bigger-role-to-keep-our-economy-going-11604413544870.html

Taxation

43. GST e-invoices jump threefold within a month of launch, shows data

https://www.business-standard.com/article/economy-policy/gst-e-invoices-jump-threefold-within-a-month-of-launch-shows-data-120103100030_1.html

 

44. GST collections cross Rs 1 trillion in October for first time in 8 months

https://www.business-standard.com/article/economy-policy/gst-collections-cross-rs-1-trillion-in-october-for-first-time-in-8-months-120110100248_1.html

 

45. Is GST about ease of doing business?

https://www.thehindubusinessline.com/specials/india-file/is-gst-about-ease-of-doing-business/article33005639.ece

 

46. A ‘percentage’ game

https://www.thehindubusinessline.com/opinion/columns/mohan-lavi/a-percentage-game/article33024009.ece

 

47. GST shortfall: Centre’s ‘novel’ borrowing plan

https://www.thehindubusinessline.com/opinion/columns/the-cheat-sheet/gst-shortfall-centres-novel-borrowing-plan/article33024036.ece

 

48. GST compensation shortfall: Rajasthan, too, chooses Option 1

https://www.thehindubusinessline.com/news/rajasthan-chooses-option-1-to-meet-gst-compensation-shortfall/article33032431.ece

 

3. Banking and Monetary policy

 

49. Foreign banks set to dial diplomatic missions over RBI directive

https://www.business-standard.com/article/economy-policy/foreign-banks-set-to-dial-diplomatic-missions-over-rbi-directive-120103100005_1.html

 

50. Banks told to ensure interest payback, RBI tells SC

https://www.thehindu.com/business/Economy/banks-told-to-ensure-interest-payback-rbi-tells-sc/article32996921.ece

 

51. India’s economic recovery will be hit if banks aren’t recapitalised, former RBI chiefs warn

https://theprint.in/economy/indias-economic-recovery-will-be-hit-if-banks-arent-recapitalised-former-rbi-chiefs-warn/535187/

 

52. No increase in bank service charges, says FinMin

https://www.thehindubusinessline.com/money-and-banking/no-increase-in-bank-service-charges-says-finmin/article33012236.ece

 

53. Subsiding middle class loans is a misuse of public money – and it doesn’t even help the borrowers

https://scroll.in/article/977500/subsiding-middle-class-loans-is-a-misuse-of-public-money-and-it-doesnt-even-help-the-borrowers

 

54. SBI standalone Q2 net up 52% to Rs 4,574 cr on rise in net interest income

https://www.business-standard.com/article/companies/sbi-standalone-q2-net-up-52-to-rs-4-574-cr-on-rise-in-net-interest-income-120110400919_1.html

 

55. RBI urges Supreme Court to lift interim order banning declaration of NPAs

https://theprint.in/economy/rbi-urges-supreme-court-to-lift-interim-order-banning-declaration-of-npas/537691/

 

56. RBI to continue OMO purchase auctions of Rs 20,000 cr to assure liquidity

https://www.business-standard.com/article/economy-policy/rbi-to-continue-omo-purchase-auctions-of-rs-20-000-cr-to-assure-liquidity-120110501960_1.html

 

57. Former RBI governors warn of NPAs posing 'huge risk' to economic recovery

https://www.business-standard.com/article/economy-policy/former-rbi-governors-warn-of-npas-posing-huge-risk-to-economic-recovery-120110201507_1.html

 

58. Indian banks see revival in loan growth but concerns linger

https://www.livemint.com/industry/banking/indian-banks-see-revival-in-loan-growth-but-concerns-linger-11604578639140.html

 

59. Loan moratorium: RBI urges SC to lift interim order banning declaration of NPAs

https://www.livemint.com/industry/banking/loan-moratorium-rbi-urges-sc-to-lift-interim-order-banning-declaration-of-npas-11604569983542.html

 

4. External Sector

 

60. Tea exports expected to drop 28% in FY21

https://www.thehindubusinessline.com/markets/commodities/tea-exports-expected-to-drop-28-in-fy21/article32985260.ece

 

61. Forex reserves surge $5.4 billion to all-time high

https://indianexpress.com/article/business/economy/forex-reserves-surge-5-4-billion-to-all-time-high-6911819/

 

62. Exports sink 5.4% in Oct after Sept buoyancy

https://www.thehindubusinessline.com/economy/indias-goods-exports-in-october-decline-by-54/article33012605.ece

 

63. Uneven recovery? Trade deficit widens in October, exports dip 5.4%

https://www.business-standard.com/article/economy-policy/uneven-recovery-trade-deficit-widens-in-october-exports-dip-5-4-120110302040_1.html

 

64. 'India is the place to be': Modi seeks investors for infra, manufacturing

https://www.business-standard.com/article/economy-policy/india-is-the-place-to-be-modi-seeks-investors-for-infra-manufacturing-120110501604_1.html

 

65. A pragmatic approach to defence FDI

https://www.business-standard.com/article/opinion/a-pragmatic-approach-to-defence-fdi-120110600070_1.html

 

66. RBI exploring investment options for forex reserves, sources say

https://www.livemint.com/industry/banking/rbi-exploring-investment-options-for-forex-reserves-sources-say-11604409744781.html

 

67. What India should do as China’s economy shifts

https://www.livemint.com/opinion/online-views/what-india-should-do-as-china-s-economy-shifts-11604244556543.html

 

5. Agriculture and Rural Economy

 

68. Govt provides Rs 670-crore support to RRBs to meet regulatory capital

https://www.business-standard.com/article/economy-policy/govt-provides-rs-670-crore-support-to-rrbs-to-meet-regulatory-capital-120110100124_1.html

 

69. How different are farm Bills of three Congress-ruled states from Centre's?

https://www.business-standard.com/article/economy-policy/how-different-are-farm-bills-of-three-non-bjp-led-states-from-the-centre-s-120110100383_1.html

 

70. Mills across India want people to consume more sugar: Here is why

https://www.business-standard.com/article/economy-policy/mills-across-india-want-people-to-consume-more-sugar-here-is-why-120110200185_1.html

 

71. Small growers voice concern over tea imports when green leaf prices moves up

https://www.thehindubusinessline.com/economy/agri-business/small-growers-voice-concern-over-tea-imports-when-green-leaf-prices-moves-up/article33001584.ece

 

72. Nations start food stockpiling again

https://www.thehindubusinessline.com/markets/commodities/nations-start-food-stockpiling-again/article33005726.ece

 

73. Why loan waivers do not curb farmer suicides

https://www.thehindubusinessline.com/economy/agri-business/why-loan-waivers-do-not-curb-farmer-suicides/article33005681.ece

 

74. Rajasthan Farm Bills: Here's How They're Different From the Central Acts

https://thewire.in/agriculture/rajasthan-farm-bills-apmc-act

 

75. Farm mechanisation project gets going

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/farm-mechanisation-project-gets-going/article33017920.ece

 

76. Punjab, Kerala score in farm price stabilisation

https://www.thehindu.com/todays-paper/tp-national/punjab-kerala-steal-a-march-on-state-in-agricultural-price-stabilisation/article33017805.ece

 

77. Farm Bills and the PDS conundrum

https://www.thehindubusinessline.com/opinion/columns/farm-bills-and-the-pds-conundrum/article33015693.ece

 

78. Peeling the onion price crisis

https://www.thehindubusinessline.com/opinion/peeling-the-onion-price-crisis/article33015423.ece

 

79. Crackdown on ‘hoarding’ shows Modi government is still reluctant to allow farmers to trade freely

https://scroll.in/article/976958/crackdown-on-hoarding-shows-modi-government-is-still-reluctant-to-allow-farmers-to-trade-freely

 

80. Why the humble spud needs a hand

https://www.thehindubusinessline.com/opinion/why-the-humble-spud-needs-a-hand/article33024023.ece

 

81. 88% more households sought work under MGNREGS in October, shows data

https://www.business-standard.com/article/economy-policy/88-more-households-sought-work-under-mgnregs-in-october-shows-data-120110400068_1.html

 

82. Why Rajasthan Farm Act amendments may lack the teeth to help farmers

https://www.business-standard.com/article/economy-policy/why-rajasthan-farm-act-amendments-may-lack-the-teeth-to-help-farmers-120110200595_1.html

 

6. Industry, Manufacturing, Services and Technology

 

83. Consumers adapted to post-Covid reality in retail via e-commerce: Industry

https://www.business-standard.com/article/economy-policy/consumers-adapted-to-post-covid-reality-in-retail-via-e-commerce-industry-120103001591_1.html

 

84. Govt to frame sector-specific model employment contracts for industries

https://www.business-standard.com/article/economy-policy/govt-to-frame-sector-specific-model-employment-contracts-for-industries-120110100388_1.html

 

85. India's power consumption up 13.38% in Oct as industrial activity revives

https://www.business-standard.com/article/economy-policy/india-s-power-consumption-up-13-38-in-oct-as-industrial-activity-revives-120110100354_1.html

 

86. Factory output hits decade high in October as demand bounces back: PMI

https://www.business-standard.com/article/economy-policy/factory-output-hits-decade-high-in-october-as-demand-bounces-back-pmi-120110200332_1.html

 

87. Diesel sale clocks 6.1% growth; first time since Covid-19 induced lockdown

https://www.business-standard.com/article/economy-policy/diesel-sales-clocks-6-1-growth-first-time-since-covid-19-induced-lockdown-120110200523_1.html

 

88. CIL records 19% jump in coal production in October

https://www.thehindubusinessline.com/economy/cil-records-19-jump-in-coal-production-in-october/article32996673.ece

 

89. ‘Manufacturing grows fastest since 2007’

https://www.thehindu.com/business/Economy/manufacturing-grows-fastest-since-2007/article33007405.ece

 

90. Oct. services sector PMI signals first expansion since February

https://www.thehindu.com/business/Industry/oct-services-sector-pmi-signals-first-expansion-since-february/article33026845.ece

 

91. India's Services Activity Grows in October for First Time in Eight Months

https://thewire.in/economy/india-services-activity-pmi-october

 

92. In post-Covid world, services will recover fast

https://www.thehindubusinessline.com/opinion/in-post-covid-world-services-will-recover-fast/article33032090.ece

 

93. Uttar Pradesh among Top 5 in MSME employment generators amid Covid-19

https://www.business-standard.com/article/economy-policy/uttar-pradesh-among-top-5-in-msme-employment-generators-amid-covid-19-120110400329_1.html

 

94. Small business activity fast reaching near-normal levels: Report

https://www.business-standard.com/article/economy-policy/small-business-activity-fast-reaching-near-normal-levels-report-120110400773_1.html

 

95. Housing sales may fall by 35-40% in FY21 as demand improved: ICRA

https://www.business-standard.com/article/pti-stories/housing-sales-likely-to-decline-35-40-pc-in-fy21-icra-120110501507_1.html

 

96. Three policy interventions could add billions of dollars to GDP: McKinsey

https://www.business-standard.com/article/economy-policy/three-policy-interventions-could-add-billions-of-dollars-to-gdp-mckinsey-120110201499_1.html

 

97. NCAER's business confidence index rises 41.1% in September quarter

https://www.business-standard.com/article/economy-policy/ncaer-s-business-confidence-index-rises-41-1-in-september-quarter-120110201564_1.html

 

98. The structural reforms we need for infrastructure investment

https://www.livemint.com/opinion/online-views/the-structural-reforms-we-need-for-infrastructure-investment-11604589626107.html

 

99. 2020 could be for manufacturing what 1991 was for our economy

https://www.livemint.com/opinion/online-views/2020-could-be-for-manufacturing-what-1991-was-for-our-economy-11604415919783.html

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

100. After Trump, Will International Relations and Trade Ever Be the Same? - The New York Times

https://www.nytimes.com/2020/10/29/opinion/trump-trade-international-relations.html

 

101. Opinion | Lies, Damned Lies and Trump Rallies

https://www.nytimes.com/2020/10/29/opinion/trump-lies.html

 

102. Opinion | What Have We Lost?

https://www.nytimes.com/interactive/2020/10/30/opinion/trump-america.html

 

103. Opinion | The Spanish Prisoner (Published 2010)

https://www.nytimes.com/2010/11/29/opinion/29krugman.html

 

104. Opinion | Death of a Fairy Tale (Published 2012)

https://www.nytimes.com/2012/04/27/opinion/krugman-death-of-a-fairy-tale.html

 

105. Opinion | The War on Truth Reaches Its Climax

https://www.nytimes.com/2020/11/02/opinion/trump-election-lies.html

 

106. Opinion | Is America Becoming a Failed State?

https://www.nytimes.com/2020/11/05/opinion/joe-biden-senate-mitch-mcconnell.html

 

107. Republicans, Not Biden, Are About to Raise Your Taxes

https://www.nytimes.com/2020/10/31/opinion/republicans-biden-taxes.html

 

8. Other Articles/ Columns

 

• The India Forum

108. The Three Farm Bills

Is This the Market Reform Indian Agriculture Needs?

https://www.theindiaforum.in/article/three-farm-bills

 

• The Economist

109. How economically damaging will new lockdowns be?

https://www.economist.com/finance-and-economics/2020/11/07/how-economically-damaging-will-new-lockdowns-be

 

110. Why is the idea of import substitution being revived?

https://www.economist.com/finance-and-economics/2020/11/07/why-is-the-idea-of-import-substitution-being-revived

 

111. Why dollar assets are still riding high after America’s election

https://www.economist.com/finance-and-economics/2020/11/07/why-dollar-assets-are-still-riding-high-after-americas-election

 

112. Why the bond market might keep America’s next president awake at night

https://www.economist.com/finance-and-economics/2020/11/04/why-the-bond-market-might-keep-americas-next-president-awake-at-night

 

113. What next for the EU’s fiscal rules?

https://www.economist.com/finance-and-economics/2020/10/31/what-next-for-the-eus-fiscal-rules

 

114. If China’s economy is so strong, why isn’t its currency stronger?

https://www.economist.com/finance-and-economics/2020/10/31/if-chinas-economy-is-so-strong-why-isnt-its-currency-stronger

 

115. What GDP can and cannot tell you about the post-pandemic economy

https://www.economist.com/finance-and-economics/2020/10/29/what-gdp-can-and-cannot-tell-you-about-the-post-pandemic-economy

 

• Economic and Political Weekly

Commentary

116. India’s Far from Neo-liberal Economic Order in the Modi Era

https://www.epw.in/journal/2020/44/commentary/indias-far-neo-liberal-economic-order-modi-era.html

 

117. The Future of Work in the Post-COVID-19 World

https://www.epw.in/journal/2020/44/commentary/future-work-post-covid-19-world.html

 

Special articles

118. Repercussions of Protracted Currency Shortage across Two Models of Financial Inclusion in India

https://www.epw.in/journal/2020/44/special-articles/repercussions-protracted-currency-shortage-across.html

 

 

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