Weekly Updates on the Indian Economy

(19/06/2021 to 25/06/2021)

1. National Accounts and State of the Economy

 

1. Bringing the economy back on track

https://www.thehindubusinessline.com/opinion/bringing-the-economy-back-on-track/article34870492.ece

 

2. Health inflation surged to over 8% in May

https://www.thehindubusinessline.com/economy/health-inflation-surged-to-over-8-in-may/article34933269.ece

 

3. Covid stimulus measures have not reached 88% of self-employed and small units: Survey

https://www.thehindubusinessline.com/economy/covid-stimulus-measures-have-not-reached-a-majority-of-self-employed-and-small-units/article34954667.ece

 

4. Health infrastructure has increased 45-fold: Centre

https://www.thehindu.com/todays-paper/tp-national/health-infrastructure-has-increased-45-fold-centre/article34875314.ece

 

5. The state of India’s poor must be acknowledged

https://www.thehindu.com/opinion/lead/the-state-of-indias-poor-must-be-acknowledged/article34895792.ece

 

6. Indication of revival in economic activity as states unlock: Survey

https://www.business-standard.com/article/economy-policy/indication-of-revival-in-economic-activity-as-states-unlock-survey-121062100984_1.html

 

7. Statsguru: 6 charts explain why inflation risk is growing for the economy

https://www.business-standard.com/article/economy-policy/statsguru-6-charts-explain-why-inflation-risk-is-growing-for-the-economy-121062000893_1.html

 

8. Real GDP growth likely to be 8.7% in FY22: Motilal Oswal Financial Services

https://www.business-standard.com/article/economy-policy/real-gdp-growth-likely-to-be-8-7-in-fy22-motilal-oswal-financial-services-121061900515_1.html

 

9. Covid leaves Indian adults poorer by 6.1% in 2020: Credit Suisse

https://www.business-standard.com/article/economy-policy/covid-leaves-indian-adults-poorer-by-6-1-in-2020-credit-suisse-121062200803_1.html

 

10. Moody's cuts India growth forecast for 2021 to 9.6% from 13.9% earlier

https://www.business-standard.com/article/economy-policy/moody-s-cuts-india-growth-forecast-for-2021-to-9-6-from-13-9-earlier-121062300497_1.html

 

11. India making efforts to reduce gender gap in labour force: Gangwar

https://www.business-standard.com/article/economy-policy/india-making-efforts-to-reduce-gender-gap-in-labour-force-gangwar-121062301826_1.html

 

12. S&P cuts India's FY22 growth forecast to 9.5% from 11% earlier

https://www.business-standard.com/article/economy-policy/s-p-cuts-india-s-fy22-growth-forecast-to-9-5-pc-121062400344_1.html

 

13. Wealth of India's super-rich slips 4.4% in 2020 due to rupee fall: report

https://www.business-standard.com/article/economy-policy/wealth-of-india-s-super-rich-slips-4-4-in-2020-due-to-rupee-fall-report-121062201698_1.html

 

14. Odisha directs urban local bodies to spend 25% budget on slum development

https://www.business-standard.com/article/economy-policy/odisha-directs-urban-local-bodies-to-spend-25-budget-on-slum-development-121062500078_1.html

 

15. Economic impact of second COVID wave has been less than the first wave: TV Narendran

https://economictimes.indiatimes.com/news/economy/indicators/economic-impact-of-second-covid-wave-has-been-less-than-the-first-wave-tv-narendran/articleshow/83711705.cms

 

16. Indications of revival in economic activity as states get into unlock mode: Survey

https://economictimes.indiatimes.com/news/economy/indicators/indications-of-revival-in-economic-activity-as-states-get-into-unlock-mode-survey/articleshow/83715576.cms

 

17. India's post pandemic recovery could be uneven: Deepak Parekh

https://economictimes.indiatimes.com/news/economy/indicators/indias-post-pandemic-recovery-could-be-uneven-deepak-parekh/articleshow/83781371.cms

 

18. CEA expects food inflation to ease with unlock, good monsoon

https://economictimes.indiatimes.com/news/economy/indicators/cea-expects-food-inflation-to-ease-with-unlock-good-monsoon/articleshow/83810014.cms

 

19. No intention to delay fixing minimum wages: Labour Ministry

https://economictimes.indiatimes.com/news/economy/policy/no-intention-to-delay-fixing-minimum-wages-labour-ministry/articleshow/83662893.cms

 

20. Government open to more measures to boost economy: CEA K V Subramanian

https://economictimes.indiatimes.com/news/economy/policy/government-open-to-more-measures-to-boost-economy-cea-k-v-subramanian/articleshow/83686271.cms

 

21. Govt to monitor Covid data for 6 weeks to decide on economic intervention: Sanjeev Sanyal

https://economictimes.indiatimes.com/news/economy/policy/govt-to-monitor-covid-data-for-6-weeks-to-decide-on-economic-intervention-sanjeev-sanyal/articleshow/83813847.cms

 

22. States' reopening strategy not 'prudent' as vaccination coverage low in many places: Report

https://economictimes.indiatimes.com/news/economy/finance/states-reopening-strategy-not-prudent-as-vaccination-coverage-low-in-many-places-report/articleshow/83777280.cms

 

23. The surging fuel prices are pushing up inflation. So why isn’t the Indian government doing anything?

https://scroll.in/article/997870/why-isnt-the-indian-government-lowering-fuel-prices-despite-rising-inflation

 

24. Finance ministry seeks details on Indians’ funds in Swiss banks from Switzerland authorities

https://theprint.in/economy/finance-ministry-seeks-details-on-indians-funds-in-swiss-banks-from-switzerland-authorities/680819/

 

25. What are UPA-era oil bonds Modi govt says are preventing it from reducing fuel prices

https://theprint.in/economy/what-are-upa-era-oil-bonds-modi-govt-says-are-preventing-it-from-reducing-fuel-prices/681952/

 

26. Risky for Indian states to ease lockdowns despite low vaccination, Oxford Economics says

https://theprint.in/economy/risky-for-indian-states-to-ease-lockdowns-despite-low-vaccination-oxford-economics-says/683616/

 

27. Covid has devastated India’s self-employed women

https://theprint.in/opinion/covid-has-devastated-indias-self-employed-women/680166/

 

28. Only 21.3% of Delhi's Informal Workforce Got First Dose of COVID-19 Vaccine: Survey

https://thewire.in/labour/only-21-3-of-delhis-informal-workforce-got-first-dose-of-covid-19-vaccine-survey

 

29. TN to Have Panel Comprising Experts like Esther Duflo, Raghuram Rajan for Economic Rebound

https://thewire.in/government/tn-to-have-panel-comprising-experts-like-esther-duflo-raghuram-rajan-for-economic-rebound

 

30. The usual tools are unlikely to fix our inflation problem

https://www.livemint.com/opinion/online-views/the-usual-tools-are-unlikely-to-fix-our-inflation-problem-11624465227018.html

 

2. Public Finance

 

31. What does it take for DFIs to succeed?

https://www.thehindubusinessline.com/opinion/columns/ashima-goyal/what-does-it-take-for-dfis-to-succeed/article34870375.ece

 

32. Centre should abandon fiscal targets in the time of crisis: CPI (M)

https://www.business-standard.com/article/economy-policy/centre-should-abandon-fiscal-targets-in-the-times-of-crisis-cpi-m-121062101166_1.html

 

33. Reform-linked borrowing by states new model of public finance: PM Modi

https://www.business-standard.com/article/economy-policy/reform-linked-borrowing-by-states-new-model-of-public-finance-pm-modi-121062300063_1.html

 

34. FM Nirmala Sitharaman calls for re-thinking financing for resilient infra

https://www.business-standard.com/article/pti-stories/fm-calls-for-re-thinking-financing-and-development-priorities-for-inclusive-resilient-infra-121062300822_1.html

 

35. Over Rs 20,000 crore Covid response package on cards

https://economictimes.indiatimes.com/news/economy/policy/over-rs-20000-crore-covid-response-package-on-cards/articleshow/83828718.cms

 

36. States' borrowing costs rise as yields touch 7 per cent: Report

https://economictimes.indiatimes.com/news/economy/finance/states-borrowing-costs-rise-as-yields-touch-7-per-cent-report/articleshow/83752447.cms

 

37. Top 10 states’ FY22 revenue to exceed pre-Covid levels

https://economictimes.indiatimes.com/news/economy/finance/top-10-states-fy22-revenue-to-exceed-pre-covid-levels/articleshow/83807915.cms

 

38. ‘Centre-State partnership’ approach helped states raise an extra Rs 1.06 lakh crore: Modi

https://theprint.in/economy/centre-state-partnership-approach-helped-states-raise-an-extra-rs-1-06-lakh-crore-modi/682392/

 

Taxation

39. No GST on Central/State boards exam fees

https://www.thehindubusinessline.com/news/education/no-gst-on-examination-fee-cbic/article34849282.ece

 

40. ‘Bring back consensual atmosphere to GST Council’

https://www.thehindubusinessline.com/news/bring-back-consensual-atmosphere-to-gst-council-amit-mitra-to-fm/article34936358.ece

 

41. Over 80% potential customers to buy homes if states cut stamp duty: Survey

https://www.business-standard.com/article/economy-policy/over-80-potential-customers-to-buy-homes-if-states-cut-stamp-duty-survey-121062101346_1.html

 

42. Hike in fuel price due to excise duty imposed by Centre, says Yechury

https://www.business-standard.com/article/economy-policy/hike-in-fuel-price-due-to-excise-duty-imposed-by-centre-says-yechury-121062301211_1.html

 

43. E-way bills up in June after May’s sharp drop

https://economictimes.indiatimes.com/news/economy/policy/e-way-bills-up-in-june-after-mays-sharp-drop/articleshow/83829132.cms

 

44. CII president TV Narendran seeks cut in GST rate on consumer goods to lift demand

https://economictimes.indiatimes.com/news/economy/policy/cii-prez-seeks-cut-in-gst-rate-on-consumer-goods-to-lift-demand/articleshow/83696967.cms

 

45. NAA directs GST field units to collect evidence against suppliers not passing GST rate cut benefits on Covid items to customers

https://economictimes.indiatimes.com/news/economy/policy/naa-directs-gst-field-units-to-collect-evidence-against-suppliers-not-passing-gst-rate-cut-benefits-on-covid-items-to-customers/articleshow/83811350.cms

 

46. Demands to increase the compensation period show that states don't really believe in GST

https://scroll.in/article/997666/demands-to-increase-the-compensation-period-show-that-states-don-t-really-believe-in-gst

 

3. Banking and Monetary policy

 

47. Repo rate expected to remain unchanged in fiscal 2022: Emkay Global

https://www.business-standard.com/article/economy-policy/repo-rate-expected-to-remain-unchanged-in-fiscal-2022-emkay-global-121061900852_1.html

 

48. Credit growth in fiscal 2022 to be in low double-digit: Care Ratings

https://www.business-standard.com/article/economy-policy/credit-growth-in-fiscal-2022-to-be-in-low-double-digit-care-ratings-121061900781_1.html

 

49. Bank credit grows by 5.7% to Rs 108.43 trillion; deposits by 9.7%: RBI

https://www.business-standard.com/article/economy-policy/bank-credit-grows-by-5-7-to-rs-108-43-trillion-deposits-by-9-7-rbi-121062101529_1.html

 

50. Household savings slide in third quarter amid Covid-19 pandemic cloud

https://www.business-standard.com/article/economy-policy/household-savings-drop-further-in-third-quarter-over-weakening-inflows-121062300605_1.html

 

51. Maharashtra govt may reject RBI’s plan on merger of DCCBs with State co-operative banks

https://www.thehindubusinessline.com/money-and-banking/maharashtra-govt-may-reject-rbis-plan-on-merger-of-dccbs-with-state-co-operative-banks/article34851065.ece

 

52. Alternative investment funds surge in FY21

https://www.thehindubusinessline.com/markets/alternative-investment-funds-surge-in-fy21/article34852766.ece

 

53. Save jobs or protect savers? A new monetary policy dilemma amid Covid-19

https://www.business-standard.com/article/economy-policy/save-jobs-or-protect-savers-a-new-monetary-policy-dilemma-amid-covid-19-121062300068_1.html

 

54. RBI links NBFC dividend payout to capital, NPA norms

https://www.thehindubusinessline.com/money-and-banking/rbi-links-nbfc-dividend-payout-to-capital-npa-norms/article34955721.ece

 

55. MPC: Need both monetary and fiscal steps for recovery

https://economictimes.indiatimes.com/news/economy/policy/mpc-need-both-monetary-fiscal-steps-for-recovery/articleshow/83654903.cms

 

56. What the Crypto crowd doesn’t understand about economics

https://theprint.in/opinion/what-the-crypto-crowd-doesnt-understand-about-economics/681467/

 

57. Where is the Indian rupee headed?

https://www.livemint.com/opinion/online-views/a-crystal-ball-gaze-at-where-the-indian-rupee-could-be-headed-11624552180892.html

 

 

 

 

4. External Sector

 

58. Are our forex reserves adequate?

https://www.thehindubusinessline.com/opinion/columns/are-our-forex-reserves-adequate/article34851832.ece

 

59. India receives $64 bn FDI in 2020, fifth largest recipient of inflows: UN

https://www.business-standard.com/article/economy-policy/india-receives-64-bn-fdi-in-2020-fifth-largest-recipient-of-inflows-un-121062100305_1.html

 

60. India's total FDI inflow rises 38% year-on-year to $6.24 billion in April

https://www.business-standard.com/article/economy-policy/india-s-total-fdi-inflow-rises-38-on-year-to-6-24-billion-in-april-121062301664_1.html

 

5. Agriculture and Rural Economy

 

61. Food prices add 8 points to CPI -AL, RL

https://www.thehindubusinessline.com/economy/food-prices-add-8-points-to-cpi-al-rl/article34852484.ece

 

62. Cotton MSP has not breached WTO cap, argues India

https://www.thehindubusinessline.com/economy/cotton-msp-has-not-breached-wto-cap-argues-india/article34872570.ece

 

63. MSP increase not enough to make farmers shift from paddy and wheat

https://www.business-standard.com/article/economy-policy/msp-increase-not-enough-to-get-farmers-to-grow-pulses-oilseeds-121061801837_1.html

 

64. Centre to spend extra Rs 93,868 crore for running PMGKAY-3 in FY22

https://www.business-standard.com/article/economy-policy/centre-to-spend-extra-rs-93-868-crore-for-running-pmgkay-3-in-fy22-121062301673_1.html

 

65. Tech will help scale up reach of PMFBY with precision agriculture: Experts

https://www.business-standard.com/article/economy-policy/tech-will-help-scale-up-reach-of-pmfby-with-precision-agriculture-experts-121062301835_1.html

 

66. Onion export earnings drop to 6-year-low

https://www.thehindubusinessline.com/economy/agri-business/onion-export-earnings-down-at-6-year-low/article34954576.ece

 

67. Assam signs MoU with Survey of India for rural property survey

https://economictimes.indiatimes.com/news/economy/policy/assam-signs-mou-with-survey-of-india-for-rural-property-survey/articleshow/83738053.cms

 

68. India, Fiji sign MoU for cooperation in agriculture

https://economictimes.indiatimes.com/news/economy/agriculture/india-fiji-sign-mou-for-cooperation-in-agriculture/articleshow/83747630.cms

 

69. The rural economy can jump-start a revival

https://www.thehindu.com/opinion/lead/the-rural-economy-can-jump-start-a-revival/article34957515.ece

 

6. Industry, Manufacturing, Services and Technology

 

70. Covid-19 crisis: Relief for MSME promoters under debt scheme likely

https://www.business-standard.com/article/economy-policy/covid-19-crisis-relief-for-msme-promoters-under-debt-scheme-likely-121062000979_1.html

 

71. Housing sales in Apr-Jun may rise 93% compared to year-ago period

https://www.business-standard.com/article/economy-policy/housing-sales-in-apr-jun-may-rise-93-compared-to-year-ago-period-121062300855_1.html

 

72. India's second Covid wave to impact infra sectors, says Moody's

https://www.business-standard.com/article/economy-policy/india-s-second-covid-wave-to-impact-infra-sectors-says-moody-s-121062300618_1.html

 

73. Green hydrogen purchase to be mandatory for some sectors: R K Singh

https://www.business-standard.com/article/economy-policy/green-hydrogen-purchase-to-be-mandatory-for-some-sectors-r-k-singh-121062201679_1.html

 

74. Q4 of FY21 sees recovery in housing prices as pandemic tapers: CARE Ratings

https://www.business-standard.com/article/economy-policy/q4-of-fy21-sees-recovery-in-housing-prices-as-pandemic-tapers-care-ratings-121062301653_1.html

 

75. Focus on 'toyconomy': Prime Minister Modi's call to India's toy industry

https://www.business-standard.com/article/economy-policy/focus-on-toyconomy-prime-minister-modi-s-call-to-india-s-toy-industry-121062400667_1.html

 

76. Second wave impacted 58% of Indian companies: Ficci

https://economictimes.indiatimes.com/news/economy/indicators/second-wave-impacted-58-of-indian-cos-ficci/articleshow/83735644.cms

 

77. Manufacturing investments rose in FY19 as rent, profits fell

https://economictimes.indiatimes.com/news/economy/indicators/manufacturing-investments-rose-in-fy18-as-rent-profits-fell/articleshow/83774487.cms

 

78. 73% SMBs have not made any profit last year owing to Covid: CIA survey

https://economictimes.indiatimes.com/news/economy/indicators/73-smbs-have-not-made-any-profit-last-year-owing-to-covid-cia-survey/articleshow/83812474.cms

 

79. Businesses back on recovery track: Macro indicators encouraging in June

https://economictimes.indiatimes.com/news/economy/indicators/businesses-back-on-recovery-track-macro-indicators-encouraging-in-june/articleshow/83831386.cms

 

80. Industry needs to make pricing of financial products transparent: RBI Deputy Governor T Rabi Sankar

https://economictimes.indiatimes.com/news/economy/policy/industry-needs-to-make-pricing-of-financial-products-transparent-rbi-deputy-governor-t-rabi-sankar/articleshow/83715983.cms

 

81. FICCI urges govt to support tourism, hospitality industry

https://economictimes.indiatimes.com/news/economy/policy/ficci-urges-govt-to-support-tourism-hospitality-industry/articleshow/83777275.cms

 

82. Policy and behavioural changes can fill the MSME financing gap

https://www.livemint.com/opinion/columns/policy-and-behavioural-changes-can-fill-the-msme-financing-gap-11624289850388.html

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

83. Despite diverging economic views, we all support the Biden plan

https://thehill.com/opinion/white-house/559772-despite-diverging-economic-views-we-all-support-the-biden-plan

 

84. Opinion | Economics in a Post-Truth Nation

https://www.nytimes.com/2021/06/24/opinion/economy-truth-republicans.html

 

85. Opinion | The Week Inflation Panic Died

https://www.nytimes.com/2021/06/21/opinion/inflation-economy-biden-fed.html

 

8. Other Articles/ Columns

 

• Ideas for India

 

86. The Covid-19 crisis and food security

https://www.ideasforindia.in/topics/poverty-inequality/the-covid-19-crisis-and-food-security.html

 

87. Lineage norms and women’s political participation

https://www.ideasforindia.in/topics/social-identity/lineage-norms-and-women-s-political-participation.html

 

88. The changing demand for welfare in rural Pakistan

https://www.ideasforindia.in/topics/poverty-inequality/the-changing-demand-for-welfare-in-rural-pakistan.html

 

89. A decade of credit collapse in India

https://www.ideasforindia.in/topics/money-finance/a-decade-of-credit-collapse-in-india.html

 

• EPW

 

Special Article

 

90. Reconfiguring Urban Primary Healthcare

Operations, Utilisation and Financing of Mohalla Clinics of Delhi

https://www.epw.in/journal/2021/25/special-articles/reconfiguring-urban-primary-healthcare.html

 

• The India Forum

 

91. India's Inequality Problem

https://www.theindiaforum.in/article/does-india-have-inequality-problem

 

• Project Syndicate

 

92. Biden Is Back, but America Isn’t

https://www.project-syndicate.org/commentary/biden-trade-protectionism-china-competition-by-carl-bildt-2021-06?a_la=english&a_d=60d099613850b5107c6dc005&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=biden-trade-protectionism-china-competition-by-carl-bildt-2021-06&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

93. Beware America’s Soaring Public Debt

https://www.project-syndicate.org/commentary/biden-spending-plan-large-deficits-inflation-risk-by-michael-boskin-2021-06?a_la=english&a_d=60d316c1f72b63619df08ba6&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=biden-spending-plan-large-deficits-inflation-risk-by-michael-boskin-2021-06&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

94. The Chinese Economy’s Great Wall

https://www.project-syndicate.org/commentary/china-consumption-growth-dilemma-by-jim-o-neill-2021-06?a_la=english&a_d=60d32db1f72b63619d27a4cf&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=china-consumption-growth-dilemma-by-jim-o-neill-2021-06&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

95. In Bitcoin We Trust?

https://www.project-syndicate.org/commentary/risks-of-el-salvador-adopting-bitcoin-by-paola-subacchi-2021-06?a_la=english&a_d=60d46cd85c761f7f4597d3ad&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=risks-of-el-salvador-adopting-bitcoin-by-paola-subacchi-2021-06&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

96. Three Warnings for Emerging Economies

https://www.project-syndicate.org/commentary/growth-inflation-and-trade-warnings-for-emerging-economies-by-kaushik-basu-2021-06?a_la=english&a_d=60d46c725c761f7f4596fc88&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=growth-inflation-and-trade-warnings-for-emerging-economies-by-kaushik-basu-2021-06&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

97. Is the pandemic accelerating automation? Don’t be so sure

https://www.economist.com/finance-and-economics/2021/06/19/is-the-pandemic-accelerating-automation-dont-be-so-sure

 

98. Global markets adapt to a change in the Federal Reserve’s tone

https://www.economist.com/finance-and-economics/2021/06/20/global-markets-adapt-to-a-change-in-the-federal-reserves-tone

 

99. The international role of the euro

https://www.economist.com/finance-and-economics/2021/06/24/the-international-role-of-the-euro

 

100. A new phase in the financial cycle

https://www.economist.com/finance-and-economics/2021/06/24/a-new-phase-in-the-financial-cycle

 

101. Economics needs to evolve

https://www.economist.com/finance-and-economics/2021/06/24/economics-needs-to-evolve

 

9. News on Kerala

 

102. Most college students have smartphone access: study

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/most-college-students-have-smartphone-access-study/article34897594.ece

 

103. Kerala to oppose move to bring natural gas under GST

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/kerala-to-oppose-move-to-bring-natural-gas-under-gst/article34920624.ece

 

104. FACT records operational surplus of Rs. 352 crore

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/fact-records-operational-surplus-of-rs-352-crore/article34897588.ece

 

105. The tax game in fuel pricing

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/the-tax-game-in-fuel-pricing/article34854941.ece

 

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, Ideas for India,

Journals:              Economic and Political Weekly, The Economist, Project Syndicate