Weekly Updates on the Indian Economy

(14/08/2021 to 20/08/2021)

1. National Accounts and State of the Economy

 

1. Are we being harsh on India’s performance?

https://www.thehindubusinessline.com/opinion/columns/ashima-goyal/are-we-being-harsh-on-indias-performance/article35928037.ece

 

2. Nomura Index hits 101.2; India back to business

https://www.thehindubusinessline.com/economy/india-business-resumption-at-record-high/article35934410.ece

 

3. July WPI Inflation falls to 11.16% for the second month in a row

https://www.thehindubusinessline.com/economy/wpi-inflation-declines-for-second-successive-month-to-1116-in-july/article35938429.ece

 

4. Retail sales touched 72% of pre-pandemic levels in July: RAI

https://www.thehindubusinessline.com/economy/retail-sales-touch-72-of-pre-pandemic-levels-in-july-rai/article35952431.ece

 

5. Did States leave construction workers in the lurch during second Covid-19 wave?

https://www.thehindubusinessline.com/data-stories/data-focus/did-states-leave-construction-workers-in-the-lurch-during-second-covid-19-wave/article35971581.ece

 

6. Why inflation in India could be less transitory than in the US

https://www.thehindubusinessline.com/data-stories/data-focus/why-inflation-in-india-is-likely-to-be-less-transitory-than-in-the-us/article35996570.ece

 

7. Ind-Ra revises GDP growth forecast to 9.4% for FY22

https://www.thehindubusinessline.com/economy/ind-ra-revises-gdp-growth-forecast-to-94-per-cent-for-fy22/article35993035.ece

 

8. Rupee, inflation, stocks: What sets gold prices in India during Covid-19

https://www.business-standard.com/article/economy-policy/rupee-inflation-stocks-what-sets-gold-prices-in-india-during-covid-19-121081800136_1.html

 

9. GDP to expand by 20% in Q1, to be lower than pre-Covid levels: Icra

https://www.business-standard.com/article/economy-policy/gdp-to-expand-by-20-in-q1-to-be-lower-than-pre-covid-levels-icra-121081800821_1.html

 

10. Pandemic hits India's prospects to become $5 trn economy by FY25: Economist

https://www.business-standard.com/article/economy-policy/pandemic-hits-india-s-prospects-to-become-5-trn-economy-by-fy25-economist-121081500292_1.html

 

11. Inflation pressure may build up again after Oct as economy revives: Experts

https://www.business-standard.com/article/economy-policy/inflation-pressure-may-build-up-again-after-oct-as-economy-revives-experts-121081500434_1.html

 

12. Extent of food items price rise relatively modest in Covid 2nd wave: RBI

https://www.business-standard.com/article/economy-policy/extent-of-food-items-price-rise-relatively-modest-in-covid-2nd-wave-rbi-121081701320_1.html

 

13. Women work in jobs of poorer quality with wide income variability

https://www.business-standard.com/article/economy-policy/women-work-in-jobs-of-poorer-quality-with-wide-income-variability-121081500846_1.html

 

14. India's GDP likely to grow 13-23% in first quarter, say economists

https://www.business-standard.com/article/economy-policy/india-s-gdp-likely-to-grow-13-23-in-first-quarter-say-economists-121081700036_1.html

 

15. How urban job guarantee schemes can provide equal opportunity to women

https://www.business-standard.com/article/economy-policy/how-urban-job-guarantee-schemes-can-provide-equal-opportunity-to-women-121081700193_1.html

 

16. RBI says inflation is on track to meet projections for rest of FY22

https://www.business-standard.com/article/economy-policy/indian-central-bank-says-inflation-is-on-track-to-meet-projections-121081701119_1.html

 

17. Goyal announces 80% fee cut for all recognised education institutions applying for patents

https://economictimes.indiatimes.com/news/economy/policy/goyal-announces-80-fee-cut-for-all-recognised-education-institutions-applying-for-patents/articleshow/85403041.cms

 

18. Auto scrappage policy to accelerate economic growth, boost job creation: Gadkari

https://economictimes.indiatimes.com/news/economy/policy/auto-scrappage-policy-to-accelerate-economic-growth-boost-job-creation-gadkari/articleshow/85406191.cms

 

19. Govt likely to hike rural job scheme spend by ₹25,000 crore

https://economictimes.indiatimes.com/news/economy/policy/govt-likely-to-hike-rural-job-scheme-spend-by-25k-cr/articleshow/85410532.cms

 

20. We are not blind to the challenges ordinary family in India faces in having to pay so much for fuel: Nirmala Sitharaman

https://economictimes.indiatimes.com/news/economy/policy/we-are-not-blind-to-the-challenges-ordinary-family-in-india-faces-in-having-to-pay-so-much-for-fuel-nirmala-sitharaman/articleshow/85417356.cms

 

21. N K Singh elected president of Institute of Economic Growth Society

https://economictimes.indiatimes.com/news/economy/policy/n-k-singh-elected-president-of-institute-of-economic-growth-society/articleshow/85450781.cms

 

22. India's real GDP growth in first quarter seen at 14.2-23.3%

https://economictimes.indiatimes.com/news/economy/indicators/real-gdp-growth-in-first-qtr-seen-at-14-2-23-3/articleshow/85356874.cms

 

23. Rural India back with a bang, leaves cities behind in consumption

https://economictimes.indiatimes.com/news/economy/indicators/rural-india-gets-its-appetite-back/articleshow/85356880.cms

 

24. Demand rising, but revival to pre-pandemic level needs more time, says RBI

https://economictimes.indiatimes.com/news/economy/indicators/demand-rising-but-revival-to-pre-pandemic-level-needs-more-time-says-rbi/articleshow/85402366.cms

 

25. Corporate rating recovery may stall as Covid-19 cases rise across APAC markets: Fitch Ratings

https://economictimes.indiatimes.com/news/economy/indicators/corporate-rating-recovery-may-stall-as-covid-19-cases-rise-across-apac-markets-fitch-ratings/articleshow/85449436.cms

 

26. Second wave's economic impact to be far more muted than first wave: Aurodeep Nandi, Nomura

https://economictimes.indiatimes.com/news/economy/indicators/second-waves-economic-impact-to-be-far-more-muted-than-first-wave-aurodeep-nandi-nomura/articleshow/85451369.cms

 

27. Coal India unions seek 50% rise in workers’ salaries, demand could push up fuel cost

https://theprint.in/economy/coal-india-unions-seek-50-rise-in-workers-salaries-demand-could-push-up-fuel-cost/718306/

 

28. Six Challenges of Being a Gig Worker During the COVID-19 Pandemic

https://thewire.in/labour/six-challenges-of-being-a-gig-worker-during-the-covid-19-pandemic

 

29. India’s looming water crisis and urgent measures to address it

https://www.livemint.com/opinion/online-views/indias-looming-water-crisis-and-urgent-measures-to-address-it-11629389848937.html

 

30. India’s GDP prospects: What you see is not what you get

https://www.livemint.com/opinion/columns/indias-gdp-prospects-what-you-see-is-not-what-you-get-11629043998337.html

 

31. Growth needs steps beyond reforms

https://www.thehindu.com/opinion/lead/growth-needs-steps-beyond-reforms/article35903267.ece

 

32. Economy gaining traction with pick-up in manufacturing activity: RBI article

https://www.thehindu.com/business/Economy/economy-gaining-traction-with-pick-up-in-manufacturing-activity-rbi-article/article35964228.ece

 

33. ‘Days of 50% cap are numbered’

https://www.thehindu.com/news/national/political-scientist-ashwani-kumar-interview-days-of-50-obc-quota-cap-are-numbered/article35975816.ece

 

2. Public Finance

 

34. Uttar Pradesh govt presents supplementary budget of Rs 7,302 cr

https://www.business-standard.com/article/economy-policy/uttar-pradesh-govt-presents-supplementary-budget-of-rs-7-302-cr-121081800579_1.html

 

35. Economy recovering, Nirmala Sitharaman keen to push capital spending

https://economictimes.indiatimes.com/news/economy/indicators/fm-economy-recovering-govt-keen-to-push-capex/articleshow/85386610.cms

 

36. We should have released a white paper in 2014 to show what was inherited from UPA: FM Sitharaman

https://theprint.in/economy/we-should-have-released-a-white-paper-in-2014-to-show-what-was-inherited-from-upa-fm-sitharaman/716438/

 

37. Why Indian States Need to Incorporate Gender Budgeting in Their Fiscal Planning

https://thewire.in/society/gender-budgeting-human-development-index

 

38. India’s elderly population: Fiscal challenges offer opportunities

https://www.livemint.com/opinion/online-views/indias-elderly-population-fiscal-challenges-offer-opportunities-11629303880874.html

 

39. The Indian Union and its bedrock of federalism

https://www.thehindu.com/opinion/the-indian-union-and-its-bedrock-of-federalism/article35916023.ece

 

40. Decoding the Tamil Nadu Budget

https://www.thehindu.com/opinion/op-ed/decoding-the-tamil-nadu-budget/article35946930.ece

Taxation

41. TN Budget cuts tax on petrol by ₹3; to cost ₹1,160 cr

https://www.thehindubusinessline.com/news/national/dmk-government-presents-first-budget-singara-chennai-20-to-be-launched/article35891508.ece

 

42. Input duty rebate scheme for garments to continue for 3 years

https://www.thehindubusinessline.com/economy/policy/input-duty-rebate-scheme-for-garments-made-ups-to-continue-for-3-years/article35900372.ece

 

43. GST hurdle for PM’s fortified rice plan

https://www.thehindubusinessline.com/economy/gst-hurdle-for-pms-fortified-rice-plan/article35929330.ece

 

44. ‘In person’ GST Council meet likely after a 16-month hiatus

https://www.thehindubusinessline.com/news/in-person-gst-council-meet-likely-after-a-16-month-hiatus/article35962107.ece

 

45. ‘No reversal of ITC on manufacturing process loss’

https://www.thehindubusinessline.com/economy/no-reversal-of-itc-on-manufacturing-process-loss/article36003853.ece

 

46. Retro tax scrapping revived foreign interest in India's privatisation plan

https://www.business-standard.com/article/economy-policy/retro-tax-scrapping-revived-foreign-interest-in-india-s-privatisation-plan-121081500207_1.html

 

47. No room to cut excise duty on petrol and diesel, says FM Sitharaman

https://www.business-standard.com/article/economy-policy/no-room-to-cut-excise-duty-on-petrol-and-diesel-says-fm-sitharaman-121081700063_1.html

 

48. Drinking water supply through mobile tankers taxable at 18%: AAR

https://economictimes.indiatimes.com/news/economy/finance/drinking-water-supply-through-mobile-tankers-taxable-at-18-aar/articleshow/85366651.cms

 

3. Banking and Monetary policy

 

49. What central bank digital currency is and isn’t

https://www.thehindubusinessline.com/opinion/what-central-bank-digital-currency-is-and-isnt/article35943731.ece

 

50. Financial inclusion goals: RBI data show it’s a job half done

https://www.thehindubusinessline.com/money-and-banking/rbis-first-financial-inclusion-index-at-539/article35952613.ece

 

51. Reserve Bank of India's FI-Index shows better access to financial services

https://www.business-standard.com/article/economy-policy/reserve-bank-of-india-s-fi-index-shows-better-access-to-financial-services-121081800027_1.html

 

52. Microfinance captains expect a turnaround during festive season

https://economictimes.indiatimes.com/news/economy/finance/microfinance-captains-expect-a-turnaround-during-festive-season/articleshow/85372221.cms

 

53. India ranks second in crypto adoption globally: Report

https://economictimes.indiatimes.com/news/economy/finance/india-ranks-second-on-crypto-adoption-globally/articleshow/85458265.cms

 

4. External Sector

 

54. Goods exports rise 50% to $35.43 b in July

https://www.thehindubusinessline.com/economy/policy/goods-exports-rise-4985-to-3543-billion-in-july/article35899199.ece

 

55. Inflow into global funds triples to ₹2,490 cr

https://www.thehindubusinessline.com/markets/stock-markets/inflow-into-global-funds-triple-to-2490-cr/article35943184.ece

 

56. Overseas borrowing plunges in Q1

https://www.thehindubusinessline.com/economy/overseas-borrowing-plunges-in-q1/article35945014.ece

 

57. New duty remission scheme to cover 8,555 items at an outlay of ₹12,450 cr

https://www.thehindubusinessline.com/economy/policy/centre-notifies-rodtep-rates-guidelines/article35953901.ece

 

58. India's trade with Afghanistan stalls but likely to resume soon: Industry

https://www.business-standard.com/article/economy-policy/india-s-trade-with-afghanistan-stalls-but-likely-to-resume-soon-industry-121081901186_1.html

 

59. India's exports rise nearly 40% in second week of August, shows data

https://www.business-standard.com/article/economy-policy/india-s-exports-rise-nearly-40-in-second-week-of-august-shows-data-121081801667_1.html

 

60. Export-focussed sectors express disappointment over RoDTEP rates

https://www.business-standard.com/article/economy-policy/export-focussed-sectors-express-disappointment-over-rodtep-rates-121081900070_1.html

 

61. Shifting from imports, India now exporting mobile phones worth $3 bn: PM

https://www.business-standard.com/article/economy-policy/shifting-from-imports-india-now-exporting-mobile-phones-worth-3-bn-pm-121081500177_1.html

 

62. India's textile exporters to see 20-25% growth this fiscal: Icra eport

https://www.business-standard.com/article/economy-policy/india-s-textile-exporters-to-see-20-25-growth-this-fiscal-icra-eport-121081700625_1.html

 

63. Home textile exporters to clock 20-25% growth in FY22: Report

https://www.business-standard.com/article/economy-policy/home-textile-exporters-to-clock-20-25-growth-in-fy22-report-121081701041_1.html

 

64. Taliban stop exports, imports from India

https://economictimes.indiatimes.com/news/economy/foreign-trade/taliban-stop-exports-imports-from-india/articleshow/85431105.cms

 

65. Afghanistan situation to impact trade with India: Exporters

https://economictimes.indiatimes.com/news/economy/foreign-trade/afghanistan-situation-to-impact-trade-with-india-exporters/articleshow/85366698.cms

 

66. FM to launch alternative investment fund for small and mid-sized EoUs

https://economictimes.indiatimes.com/news/economy/finance/fm-to-launch-aif-for-small-and-mid-sized-eous/articleshow/85468598.cms

 

67. Govt notifies RoDTEP rates for exporters, to cover 8,555 items including marine goods, yarn

https://theprint.in/economy/govt-notifies-rodtep-rates-for-exporters-to-cover-8555-items-including-marine-goods-yarn/717248/

 

5. Agriculture and Rural Economy

 

68. Kharif area almost tops 1,000 lakh hectares

https://www.thehindubusinessline.com/economy/agri-business/kharif-area-almost-tops-1000-lakh-hectares/article35902331.ece

 

69. Nationwide census on rubber to prepare comprehensive database begins

https://www.thehindubusinessline.com/news/nationwide-census-on-rubber-to-prepare-comprehensive-database-begins/article35891473.ece

 

70. First Farm Budget eyes Top 3 slot for TN in key food, cash crops

https://www.thehindubusinessline.com/economy/agri-business/first-farm-budget-eyes-top-3-slot-for-tn-in-key-food-cash-crops/article35917545.ece

 

71. More than 84% of geographical area in Punjab, Haryana under agriculture

https://www.thehindubusinessline.com/economy/agri-business/more-than-84-of-geographical-area-in-punjab-haryana-under-agriculture/article35934622.ece

 

72. Endgame for co-operative sugar factories?

https://www.thehindubusinessline.com/economy/agri-business/maharashtra-co-operative-fraud-endgame-for-co-operative-sugar-factories/article35984400.ece

 

73. CCEA okays Rs 77.45 crore for revival of north eastern agri-marketing corp

https://economictimes.indiatimes.com/news/economy/agriculture/ccea-okays-rs-77-45-crore-for-revival-of-north-eastern-agri-marketing-corp/articleshow/85427202.cms

 

74. Cabinet approves National Mission on Edible Oils with outlay of Rs 11,040 crore

https://economictimes.indiatimes.com/news/economy/agriculture/cabinet-nod-for-rs-11040-crore-mission-to-boost-oil-palm-farming-in-next-5-years/articleshow/85429541.cms

 

6. Industry, Manufacturing, Services and Technology

 

75. MSMEs are hit by risk-averse banks

https://www.thehindubusinessline.com/opinion/msmes-are-hit-by-risk-averse-banks/article35961778.ece

 

76. So where has all the money gone?

https://www.thehindubusinessline.com/opinion/columns/r-srinivasan/so-where-has-all-the-money-gone/article35983088.ece

 

77. Direct selling industry logs 6% growth in Punjab, Rs 523 cr sales in FY20

https://www.business-standard.com/article/economy-policy/direct-selling-industry-logs-6-growth-in-punjab-rs-523-cr-sales-in-fy20-121081601530_1.html

 

78. Biz activity last week higher than pre-Covid level for first time: Report

https://www.business-standard.com/article/economy-policy/biz-activity-last-week-higher-than-pre-covid-level-for-first-time-report-121081600915_1.html

 

79. Housing market to cross pre-note ban level in 2023, says report

https://www.business-standard.com/article/economy-policy/housing-market-to-cross-pre-note-ban-level-in-2023-says-report-121082000038_1.html

 

80. Govt will support establishing semiconductor industry in India: Goyal

https://www.business-standard.com/article/economy-policy/govt-will-support-establishing-semiconductor-industry-in-india-goyal-121082000106_1.html

 

81. PM Modi announces Rs 100 lakh crore infra development programme 'Gatishakti'

https://economictimes.indiatimes.com/news/economy/infrastructure/a-1-35-trillion-infrastructure-plan-for-india-to-be-unveiled-soon/articleshow/85343021.cms

 

82. India's long steel makers to witness better margins and higher capacity utilisation in H2 of FY 22: ICRA

https://economictimes.indiatimes.com/news/economy/indicators/indias-long-steel-makers-to-witness-better-margins-and-higher-capacity-utilisation-in-h2-of-fy-22-icra/articleshow/85401840.cms

 

83. Why animal spirits are missing, and how to revive them

https://www.livemint.com/opinion/online-views/animal-spirits-matter-more-than-nationalistic-motives-11629304783132.html

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

84. Opinion | The Quiet Rage of the Responsible

https://www.nytimes.com/2021/08/19/opinion/covid-masks-vaccine-mandates.html

 

85. Opinion | Who Created the Renewable-Energy Miracle?

https://www.nytimes.com/2021/08/17/opinion/us-obama-renewable-energy.html

 

86. Opinion | The Bad Economics of Fossil Fuel Defenders

https://www.nytimes.com/2021/08/16/opinion/climate-change-republicans-economy.html

 

87. Opinion | Wonking Out: Who Knew Used Cars and Shipping Containers Would Matter So Much?

https://www.nytimes.com/2021/08/13/opinion/us-transitory-core-inflation.html

                                  

8. Other Articles/ Columns

                                                  

• Ideas for India

 

88. Countering violence against women with awareness creation and self-defence training

https://www.ideasforindia.in/topics/social-identity/countering-violence-against-women-with-awareness-creation-and-self-defence-training.html

 

89. Spatial disparities in household earnings in India

https://www.ideasforindia.in/topics/poverty-inequality/spatial-disparities-in-household-earnings-in-india.html

 

90. PDS, National Food Security Act, and Covid-19

https://www.ideasforindia.in/topics/poverty-inequality/pds-national-food-security-act-and-covid-19.html

 

• The India Forum

 

91. Systemic Gaps in India’s Social Protection Delivery Architecture

https://www.theindiaforum.in/article/systemic-gaps-india-s-social-protection-delivery-architecture?utm_source=website&utm_medium=organic&utm_campaign=category&utm_content=Economy

 

92. CMIE’s Consumer Pyramids Household Surveys: An Assessment

https://www.theindiaforum.in/article/cmie-s-consumer-pyramids-household-surveys-assessment?utm_source=website&utm_medium=organic&utm_campaign=homepage&utm_content=Top-article

 

• EPW

 

Commentary

 

93. Pandemic Lessons

Delhi’s Quest to Universalise Food Security

https://www.epw.in/journal/2021/33/commentary/pandemic-lessons.html

 

94. Tax Reforms and Global Redistribution

Situating the Global South

https://www.epw.in/journal/2021/33/commentary/tax-reforms-and-global-redistribution.html

 

95. Financial Inclusion through Urban Cooperative Banks

Insights from Telangana

https://www.epw.in/journal/2021/33/commentary/financial-inclusion-through-urban-cooperative.html

 

• Project Syndicate

 

96. The Taliban and the Dollar

https://www.project-syndicate.org/commentary/future-of-dollar-after-afghanistan-debacle-by-jim-o-neill-2021-08?a_la=english&a_d=611ce9d3cd3ac0d42b49a89c&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=future-of-dollar-after-afghanistan-debacle-by-jim-o-neill-2021-08&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

97. America's Child-Tax-Credit Bonanza

https://www.project-syndicate.org/commentary/us-child-tax-credit-recurring-revenue-opportunities-for-business-by-todd-g-buchholz-and-victoria-j-buchholz-2021-08?a_la=english&a_d=611b92e4c011dc4142b272b3&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=us-child-tax-credit-recurring-revenue-opportunities-for-business-by-todd-g-buchholz-and-victoria-j-buchholz-2021-08&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

98. A glimpse into Japan’s understated financial heft in South-East Asia

https://www.economist.com/finance-and-economics/2021/08/14/a-glimpse-into-japans-understated-financial-heft-in-south-east-asia

 

99. India consigns its tax time-machine to the past

https://www.economist.com/finance-and-economics/2021/08/14/india-consigns-its-tax-time-machine-to-the-past

 

100. American consumers become warier

https://www.economist.com/finance-and-economics/2021/08/19/american-consumers-become-warier

 

101. Can neobanks’ popularity outlast the pandemic?

https://www.economist.com/finance-and-economics/2021/08/21/can-neobanks-popularity-outlast-the-pandemic

 

102. Just how mighty are active retail traders?

https://www.economist.com/finance-and-economics/2021/08/21/just-how-mighty-are-active-retail-traders

 

103. Emerging-market policymakers grapple with rising inflation

https://www.economist.com/finance-and-economics/2021/08/21/emerging-market-policymakers-grapple-with-rising-inflation

 

104. Will the rich world’s worker deficit last?

https://www.economist.com/finance-and-economics/will-the-rich-worlds-worker-deficit-last/21803401

 

105. America’s inflation scare becomes less menacing

https://www.economist.com/finance-and-economics/americas-inflation-scare-becomes-less-menacing/21803514

 

9. News on Kerala

 

106. Kerala to get ₹267.35 cr under emergency Covid-19 package

https://www.thehindubusinessline.com/news/national/kerala-to-get-26735-cr-under-emergency-covid-package/article35941334.ece

 

107. Kerala to create 2 mn quality jobs in five years through a govt mission

https://www.business-standard.com/article/economy-policy/kerala-to-create-2-mn-quality-jobs-in-five-years-through-a-govt-mission-121081900485_1.html

 

108. Deepen federalism, reorient welfare

https://www.thehindu.com/opinion/deepen-federalism-reorient-welfare/article35911208.ece

 

109. In Kerala, governance seeped into the grassroots in 25 years

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/in-kerala-governance-seeped-into-the-grassroots-in-25-years/article35949964.ece

           

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