Weekly Updates on the Indian Economy

(07/11/2020 to 13/10/2020)

1. National Accounts and State of the Economy

 

1. Jobs totter back as industries recover from Covid-19 blues

https://www.thehindubusinessline.com/data-stories/data-focus/jobs-totter-back-as-industries-recover-from-covid-19-blues/article33043185.ece

 

2. Abuse of women at home rose during lockdown

https://www.thehindubusinessline.com/data-stories/data-focus/abuse-of-women-at-home-rose-during-lockdown/article33060560.ece

 

3. Demonetisation 'destroyed' economy, helped few crony capitalists: Rahul

https://www.business-standard.com/article/economy-policy/demonetisation-destroyed-economy-helped-few-crony-capitalists-rahul-120110800902_1.html

 

4. 4 years on, PM Narendra Modi says demonetisation demolished corruption

https://www.business-standard.com/article/economy-policy/4-years-on-pm-narendra-modi-says-demonetisation-demolished-corruption-120110900012_1.html

 

5. Statsguru: What is the asking rate in second half to meet economic targets

https://www.business-standard.com/article/economy-policy/statsguru-what-is-the-asking-rate-in-second-half-to-meet-economic-targets-120110800856_1.html

 

6. Weekly economic indicators: Rail rebound, retail footfalls on the rise

https://www.business-standard.com/article/economy-policy/weekly-economic-indicators-rail-rebound-retail-footfalls-on-the-rise-120110900979_1.html

 

7. How states fare in Migrant Policy Index: Kerala on top, Delhi near bottom

https://www.business-standard.com/article/current-affairs/how-states-fare-in-migrant-policy-index-kerala-on-top-delhi-near-bottom-120111000539_1.html

 

8. Demonetisation anniversary: The Raj currency note withdrawal of 1946 had uncanny parallels with 2016

https://scroll.in/article/976509/demonetisation-anniversary-the-raj-currency-note-withdrawal-of-1946-had-uncanny-parallels-with-2016

 

9. FinMin approves creation of national database of unorganised workers

https://www.thehindubusinessline.com/news/finmin-nod-for-national-database-of-unorganised-workers/article33065764.ece

 

10. Making labour laws work for the workers

https://www.thehindubusinessline.com/opinion/making-labour-laws-work-for-the-workers/article33068935.ece

 

11. ‘GDP shrank 8.6% in Q2 pushing economy into a recession’

https://www.thehindu.com/todays-paper/tp-business/gdp-shrank-86-in-q2-pushing-economy-into-recession-rbi/article33079550.ece

 

12. Challenges ahead in Bihar

https://www.thehindubusinessline.com/data-stories/data-focus/bihar-poll/article33077111.ece

 

13. Will Covid, IT reduce intra-city commute?

https://www.thehindubusinessline.com/opinion/will-covid-it-reduce-intra-city-commute/article33076984.ece

 

14. Economy can recover by Q3, a quarter earlier than expected: RBI study

https://www.business-standard.com/article/economy-policy/economy-can-recover-by-q3-a-quarter-earlier-than-expected-rbi-study-120111102038_1.html

 

15. Infant mortality rose after DeMo, Covid may cause another setback: Study

https://www.business-standard.com/article/current-affairs/infant-mortality-rose-after-demo-covid-may-cause-another-setback-study-120111200069_1.html

 

16. India in historic technical recession, RBI signals in first ever nowcast

https://www.business-standard.com/article/economy-policy/india-in-historic-technical-recession-rbi-signals-in-first-ever-nowcast-120111200122_1.html

 

17. Changing trade, skilling: Rajasthan migrant workers adapt to new job market

https://www.business-standard.com/article/economy-policy/changing-trade-skilling-rajasthan-migrant-workers-adapt-to-new-job-market-120111200162_1.html

 

18. Why Diwali firecracker ban is explosive combination of health, religion, politics, economics

https://theprint.in/economy/why-diwali-firecracker-ban-is-explosive-combination-of-health-religion-politics-economics/541982/

 

19. We could reshape our economy through state generation of jobs

https://www.livemint.com/opinion/online-views/we-could-reshape-our-economy-through-state-generation-of-jobs-11605020204831.html

 

20. Food price comparisons could sometimes be deceptive

https://www.livemint.com/opinion/online-views/food-price-comparisons-could-sometimes-be-deceptive-11605019748820.html

 

21. The India story needs Bihar’s economic rise

https://www.livemint.com/opinion/online-views/the-india-story-needs-bihar-s-economic-rise-11605021187756.html

 

22. Moody’s narrows 2020 GDP contraction to 8.9%

https://www.thehindu.com/todays-paper/tp-business/moodys-narrows-2020-gdp-contraction-to-89/article33088673.ece

 

23. Krishnamurthy V Subramanian: There is a definite fiscal space, to push demand. And it can be done mainly through infrastructure

https://indianexpress.com/article/business/economy/krishnamurthy-v-subramanian-there-is-a-definite-fiscal-space-to-push-demand-and-it-can-be-done-mainly-through-infrastructure-7015837/

 

2. Public Finance

 

24. Finance panel submits report to President

https://www.thehindu.com/todays-paper/tp-national/15th-finance-commission-gives-report-to-president/article33062477.ece

 

25. Economy needs a mega ‘capital expenditure’ push: C Rangarajan

https://www.thehindubusinessline.com/economy/economy-needs-a-mega-capital-expenditure-push-c-rangarajan/article33060732.ece

 

26. Economy will shrink by just 6-7 per cent

https://www.thehindubusinessline.com/economy/economy-will-shrink-by-just-6-7-per-cent-c-rangarajan/article33060646.ece

 

27. Excise duty mop-up grows 34% in H1; overall revenue collection down 22%

https://www.business-standard.com/article/economy-policy/excise-duty-mop-up-grows-34-in-h1-overall-revenue-collection-down-22-120110700013_1.html

 

28. States hold the key to growth revival

https://www.thehindubusinessline.com/opinion/columns/r-srinivasan/states-hold-the-key-to-growth-revival/article33076760.ece

 

29. Centre releases Rs 6,158 cr to 14 states as revenue deficit grant

https://www.business-standard.com/article/economy-policy/centre-releases-rs-6-158-cr-to-14-states-as-revenue-deficit-grant-120111001806_1.html

 

30. Market cap-to-GDP ratio likely to improve to 80% in FY21, says report

https://www.business-standard.com/article/economy-policy/market-cap-to-gdp-ratio-likely-to-improve-to-80-in-fy21-says-report-120111100789_1.html

 

31. States' capital expenditure cut to cause GDP fall, estimates ICRA

https://www.business-standard.com/article/economy-policy/states-capital-expenditure-cut-to-cause-gdp-fall-estimates-icra-120111102057_1.html

 

32. Atmanirbhar Bharat 3.0: FM unveils 12 new stimulus measures ahead of Diwali

https://www.business-standard.com/article/economy-policy/atmanirbhar-bharat-3-0-fm-announces-measures-to-boost-employment-120111200565_1.html

 

33. How can Indian cities collect more property taxes to strengthen their finances?

https://scroll.in/article/975846/are-property-tax-reforms-suggested-by-atmanirbhar-bharat-adequate-to-strengthen-urban-finances

 

34. 2.65-lakh-crore stimulus package: Dhanteras gift for housing, stressed sectors

https://www.thehindubusinessline.com/economy/dhanteras-gift-for-housing-stressed-sectors/article33087078.ece

 

35. As Covid curbed spends, home savings surged to 21% of GDP in Q1

https://www.thehindubusinessline.com/money-and-banking/savings-glut-covid-19-pushes-household-financial-savings-to-21-of-gdp-in-q1/article33082372.ece

 

36. Housing finance companies welcome tax sops

https://www.thehindubusinessline.com/economy/housing-finance-companies-welcome-tax-sops/article33086977.ece

 

37. From Job Creation to Credit Schemes, Sitharaman Announces New Stimulus Package

https://thewire.in/economy/nirmala-sitharaman-economic-stimulus-package

 

38. ‘Headline management,’ says Congress about Centre’s stimulus package amid recession scare

https://scroll.in/latest/978416/headline-management-says-congress-on-governments-stimulus-package-amid-recession-scare

 

39. Fiscal impact of stimulus to be around 0.6% of GDP in FY21: Experts

https://www.business-standard.com/article/economy-policy/fiscal-impact-of-stimulus-to-be-around-0-6-of-gdp-in-fy21-experts-120111201896_1.html

 

40. Atmanirbhar Bharat 3.0 to boost sentiment and solidify economic revival

https://www.business-standard.com/article/economy-policy/atmanirbhar-bharat-3-0-to-boost-sentiment-and-solidify-economic-revival-120111201363_1.html

Taxation

41. Finance panel warns of rising GST dues for States

https://www.thehindu.com/todays-paper/finance-panel-warns-of-rising-gst-dues-for-states/article33044738.ece

 

42. SC reserves order on GST on lotteries

https://www.thehindu.com/todays-paper/tp-national/sc-reserves-order-on-gst-on-lotteries/article33050247.ece

 

43. FM for ‘consensus solution’ on taxation of digital economy

https://www.thehindubusinessline.com/economy/fm-for-consensus-solution-on-taxation-of-digital-economy/article33059859.ece

 

44. GSTN infrastructure upgraded to handle up to 300,000 users concurrently

https://www.business-standard.com/article/economy-policy/gstn-infrastructure-upgraded-to-handle-up-to-300-000-users-concurrently-120110800632_1.html

 

45. Experts wary about sustainability of Rs one trillion GST collections

https://www.business-standard.com/article/economy-policy/experts-wary-about-sustainability-of-rs-one-trillion-gst-collections-120111101280_1.html

 

46. India moving from tax terrorism to tax transparency, says Narendra Modi

https://scroll.in/latest/978286/india-moving-from-tax-terrorism-to-tax-transparency-says-narendra-modi

 

47. Making tax battles less taxing

https://www.thehindubusinessline.com/opinion/making-tax-battles-less-taxing/article33086464.ece

 

3. Banking and Monetary policy

 

48. Banks must not distance customers: FM

https://www.thehindu.com/business/Economy/banks-must-not-distance-customers-fm/article33069251.ece

 

49. ‘Economy rebounds sharply from May/June’

https://www.thehindubusinessline.com/money-and-banking/economy-rebounds-sharply-from-mayjune/article33077217.ece

 

50. Blaming clean-up efforts of Rajan, Patel for slowdown a 'tragedy': Acharya

https://www.business-standard.com/article/economy-policy/blaming-clean-up-efforts-of-rajan-patel-for-slowdown-a-tragedy-acharya-120111001845_1.html

 

51. RBI remains net purchaser of US dollars in September, buys $8.172 bn

https://www.business-standard.com/article/economy-policy/rbi-remains-net-purchaser-of-us-dollars-in-september-buys-8-172-bn-120111101981_1.html

 

52. Covid has brought payment by cash down by 50% in 2020, says survey

https://theprint.in/economy/covid-has-brought-payment-by-cash-down-by-50-in-2020-says-survey/538560/

 

53. Higher interest, processing fee — How banks are making hay amid Covid as customers take a hit

https://theprint.in/economy/higher-interest-processing-fee-how-banks-are-making-hay-amid-covid-as-customers-take-a-hit/538403/

 

54. Nirmala Sitharaman urges banks to promote RuPay cards, discourage non-digital payments

https://theprint.in/economy/nirmala-sitharaman-urges-banks-to-promote-rupay-cards-discourage-non-digital-payments/541593/

 

55. Rupee may return to near pre-Covid level of 72 by March, Nomura says

https://theprint.in/economy/rupee-may-return-to-near-pre-covid-level-of-72-by-march-nomura-says/542527/

 

56. Diwali cheer for economy as corporate profits show faster than expected recovery

https://theprint.in/economy/diwali-cheer-for-economy-as-corporate-profits-show-faster-than-expected-recovery/542575/

 

57. India’s move to restrict WhatsApp from monopolising digital payments could inspire other countries

https://scroll.in/article/978269/indias-move-to-restrict-whatsapp-from-monopolising-digital-payments-could-inspire-other-countries

 

58. Banks able to dissuade corporate borrowers from debt recast, says SBI report

https://www.livemint.com/industry/banking/banks-able-to-dissuade-corporate-borrowers-from-debt-recast-says-sbi-report-11605099976356.html

 

59. RBI’s issues with non-banks stem from less control

https://www.livemint.com/industry/banking/rbi-s-issues-with-non-banks-stem-from-less-control-11604935458679.html

 

60. RBI should keep watch of India’s cashless tryst

https://www.livemint.com/opinion/online-views/rbi-should-keep-watch-of-india-s-cashless-tryst-11604932158527.html

 

61. Banks pin hopes on festival season with retail loan boost

https://www.livemint.com/industry/banking/banks-pin-hopes-on-festival-season-with-retail-loan-boost-11604661792342.html

 

62. Many meetings and one major message: Financial risk is real

https://www.livemint.com/opinion/columns/many-meetings-and-one-major-message-financial-risk-is-real-11604931471004.html

 

63. Banks should primarily serve a social purpose

https://www.thehindubusinessline.com/opinion/banks-should-primarily-serve-a-social-purpose/article33086246.ece

 

4. External Sector

 

64. Under Biden, unfurling India’s foreign policy concerns

https://www.thehindu.com/todays-paper/tp-opinion/under-biden-unfurling-indias-foreign-policy-concerns/article33062436.ece

 

65. Major ports' cargo traffic falls for 7th month in Oct; 12% drop in Apr-Oct

https://www.business-standard.com/article/economy-policy/major-ports-cargo-traffic-falls-for-7th-month-in-oct-12-drop-in-apr-oct-120110800192_1.html

 

66. Bidenomics: Sanity in post-Covid world, but expect no instant big changes

https://www.business-standard.com/article/economy-policy/bidenomics-sanity-in-post-covid-world-but-expect-no-instant-big-changes-120110900376_1.html

 

67. Govt invites foreign investment in India's strategic petroleum reserves

https://www.business-standard.com/article/economy-policy/india-seeks-foreign-investment-in-strategic-petroleum-reserves-pradhan-120110901351_1.html

 

68. Exports show signs of improvement, up 22.47% during November 1-7: Official

https://www.business-standard.com/article/economy-policy/exports-show-signs-of-improvement-up-22-47-during-november-1-7-official-120111000542_1.html

 

69. India, China agree on a three-step process for disengagement: Report

https://www.business-standard.com/article/economy-policy/india-china-agree-on-a-three-step-process-for-disengagement-report-120111102120_1.html

 

70. Biden must steer away from Trump's tariffs, focus on digital push in India

https://www.business-standard.com/article/economy-policy/biden-must-steer-away-from-trump-s-tariffs-focus-on-digital-push-in-india-120111200114_1.html

 

71. UK firms invested 140 mn pounds in India from April-June despite Covid crisis, report says

https://theprint.in/economy/uk-firms-invested-140-mn-pounds-in-india-from-april-june-despite-covid-crisis-report-says/541407/

 

72. World’s biggest free trade deal to be clinched this weekend as India watches from sidelines

https://theprint.in/economy/worlds-biggest-free-trade-deal-to-be-clinched-this-weekend-as-india-watches-from-sidelines/542560/

 

73. India, ASEAN to expand trade despite RCEP walkout

https://www.thehindu.com/todays-paper/tp-national/india-asean-to-expand-trade-despite-rcep-walkout/article33088763.ece

 

5. Agriculture and Rural Economy

 

74. Needed, creative disruption in oilseed sector

https://www.thehindubusinessline.com/opinion/needed-creative-disruption-in-oilseed-sector/article33060327.ece

 

75. Retail food inflation may remain high for a few months, say experts

https://www.business-standard.com/article/economy-policy/retail-food-inflation-may-remain-high-for-a-few-months-say-experts-120110700068_1.html

 

76. States' own versions of farm Bills are falling short on farmers' needs

https://www.business-standard.com/article/economy-policy/states-own-versions-of-farm-bills-are-falling-short-on-farmers-needs-120110800743_1.html

 

77. Farmers to the rescue: India pins hope of economic revival on rural sector

https://www.business-standard.com/article/economy-policy/farmers-to-the-rescue-india-pins-hope-of-economic-revival-on-rural-sector-120110900068_1.html

 

78. Can Cong States’ amended Acts help farmers?

https://www.thehindubusinessline.com/opinion/can-cong-states-amended-farm-acts-help-farmers/article33068705.ece

 

79. Impact of pandemic stretches into the rubber market

https://www.thehindubusinessline.com/markets/commodities/impact-of-pandemic-stretches-into-the-rubber-market/article33077412.ece

                

80. The pain points that India's burgeoning farm exports don't reveal

https://www.business-standard.com/article/economy-policy/the-pain-points-that-india-s-burgeoning-farm-exports-don-t-reveal-120111101021_1.html

 

81. Falling vegetable prices give RBI respite from pressure on inflation, rates

https://www.business-standard.com/article/economy-policy/falling-vegetable-prices-give-rbi-respite-from-pressure-on-inflation-rates-120111200121_1.html

 

82. For Farmers in Punjab, Minimum Support Price Doesn't Guarantee a Better Income

https://thewire.in/agriculture/punjab-farmers-protest-msp-returns

 

83. Do Elections Stimulate the Rural Economy or Merely Infuse Cash on a Temporary Basis?

https://thewire.in/political-economy/elections-money-rural-economy-voters

 

6. Industry, Manufacturing, Services and Technology

 

84. Stage set for India’s IT sector refresh

https://www.thehindubusinessline.com/opinion/stage-set-for-indias-it-sector-refresh/article33053144.ece

 

85. Vehicle registrations slow Y-o-Y in Oct, but gain pace over Sept

https://www.thehindubusinessline.com/economy/logistics/vehicle-registrations-decline-in-october-across-categories/article33057115.ece

 

86. Rebooting the infrastructure sector

https://www.thehindubusinessline.com/opinion/rebooting-the-infrastructure-sector/article33060047.ece

 

87. Note ban led to financialisation of economy and decline of manufacturing

https://www.business-standard.com/article/economy-policy/note-ban-led-to-financialisation-of-economy-and-decline-of-manufacturing-120110700072_1.html

 

88. Over 1.1 million MSMEs registered on Udyam online system since July: Govt

https://www.business-standard.com/article/economy-policy/over-1-1-million-msmes-registered-on-udyam-online-system-since-july-govt-120110700510_1.html

 

89. Social infra PPPs eligible for viability gap funding

https://www.thehindu.com/todays-paper/tp-business/social-infra-ppps-eligible-for-viability-gap-funding/article33079560.ece

 

90. PLI scheme to cover 10 more sectors, will get ₹1.46-lakh cr over five years

https://www.thehindubusinessline.com/economy/cabinet-approves-145980-cr-worth-production-linked-incentives-in-10-sectors/article33074748.ece

 

91. PLI scheme: Corporate India gives thumbs up to manufacturing push

https://www.thehindubusinessline.com/economy/india-inc-gives-thumbs-up-to-pli-schemes-manufacturing-push/article33076947.ece

 

92. Next stimulus shot to focus on MSMEs, middle-income group, services sector

https://www.thehindubusinessline.com/economy/next-stimulus-shot-to-focus-on-msmes-middle-income-group-services-sector/article33077344.ece

 

93. Incentive scheme for telecom to boost manufacturing amid 5G build-up: Industry

https://www.livemint.com/industry/telecom/incentive-scheme-for-telecom-to-boost-manufacturing-amid-5g-build-up-industry-11605110901132.html

 

94. Consumer goods firms step up supply on robust sales in rural India

https://www.livemint.com/industry/retail/consumer-goods-firms-step-up-supply-on-robust-sales-in-rural-india-11605093224293.html

 

95. FMCG cos gear up as Bharat rises

https://www.livemint.com/industry/retail/fmcg-cos-gear-up-as-bharat-rises-11605143437848.html

 

96. Industrial output inched up by 0.2% in September

https://www.thehindu.com/todays-paper/tp-business/industrial-output-inched-up-by-02-in-september/article33088676.ece

 

97. Infra boost: Will help NIIF raise ₹1.1-lakh crore in next five years

https://www.thehindubusinessline.com/economy/infra-boost-will-help-niif-raise-11-lakh-crore-in-next-five-years/article33087099.ece

 

98. Business enterprises to get support through EPFO contribution for job creation

https://www.thehindubusinessline.com/economy/business-enterprises-to-get-support-through-epfo-contribution-for-job-creation/article33086935.ece

 

99. ECLGS 2.0 widens coverage to support stressed sectors

https://www.thehindubusinessline.com/economy/eclgs-20-widens-coverage-to-support-stressed-sectors/article33087007.ece

 

7. Columns by Paul Krugman/ Joseph Stiglitz

100. Opinion | Is America Becoming a Failed State?

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

 

101. Opinion | What’s Not the Matter With Georgia?

https://www.nytimes.com/2020/11/09/opinion/trump-biden-georgia.html

 

102. Opinion | Failure Is Good - The New York Times

https://www.nytimes.com/2011/11/18/opinion/krugman-failure-is-good.html

 

103. Opinion | A Republican Senate Would Be Bad for Business

https://www.nytimes.com/2020/11/12/opinion/biden-mitch-mcconnell-economy.html

 

8. Other Articles/ Columns

 

• The Economist

 

104. What a vaccine means for America’s economy

https://www.economist.com/finance-and-economics/2020/11/14/what-a-vaccine-means-for-americas-economy

 

105. Demand for American grain is surging

https://www.economist.com/finance-and-economics/2020/11/12/demand-for-american-grain-is-surging

 

106. 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

 

107. 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

 

108. How economically damaging will new lockdowns be?

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

 

• Economic and Political Weekly

 

Commentary

109. Fifteenth Finance Commission Award for 2020–21: Implications for the States

https://www.epw.in/journal/2020/45/commentary/fifteenth-finance-commission-award-2020%E2%80%9321.html

 

110. COVID-19 in the Indian Context and the Quest for Alternative Paradigms

https://www.epw.in/journal/2020/45/commentary/covid-19-indian-context-and-quest-alternative.html

 

111. An Analysis of Victim Compensation Schemes in India

https://www.epw.in/journal/2020/45/commentary/analysis-victim-compensation-schemes-india.html

 

Special articles

112. Inequality in the Utilisation of Maternal Healthcare Services: Evidence from Indian States

https://www.epw.in/journal/2020/45/special-articles/inequality-utilisation-maternal-healthcare.html

 

113. Tax Payment as a Social Responsibility: Differential Advantage of Large Firms

https://www.epw.in/journal/2020/45/special-articles/tax-payment-social-responsibility.html

 

114. Towards an Alternative Indian Tea Economy: Examples of Producer Cooperatives from Darjeeling

https://www.epw.in/journal/2020/45/special-articles/towards-alternative-indian-tea-economy.html

 

Print Sources:   The Hindu, Business Line, Business Standard, Economic Times, Indian Express

Online: Livemint, Scroll.in, The Wire, The Print, The India Forum, Newyork Times

Journals:              Economic and Political Weekly, The Economist