Weekly Updates on the Indian Economy

(09/10/2021 to 15/10/2021)

1. National Accounts and State of the Economy

 

1. India on path to swift recovery: FinMin report

https://www.thehindubusinessline.com/economy/india-on-path-to-swift-recovery-says-finance-ministry-report/article36939315.ece

 

2. Rising Sept inflation for clothes, footwear signals return of demand

https://www.thehindubusinessline.com/economy/rising-sept-inflation-for-clothes-footwear-signals-return-of-demand/article36990852.ece

 

3. IMF retains India’s growth forecast for FY22 at 9.5%

https://www.thehindubusinessline.com/economy/imf-retains-indias-growth-forecast-for-fy22-at-95/article36965900.ece

 

4. Indian job market up 57% annually in Sept ahead of festive season: Naukri

https://www.business-standard.com/article/economy-policy/indian-job-market-up-57-annually-in-sept-ahead-of-festive-season-naukri-121100900604_1.html

 

5. Why Moody's improved outlook on India might require a discerning look

https://www.business-standard.com/article/economy-policy/why-moody-s-improved-outlook-on-india-might-require-a-discerning-look-121101000928_1.html

 

6. Tax collections to foreign trade, economic recovery maintains momentum

https://www.business-standard.com/article/economy-policy/tax-collections-to-foreign-trade-economic-recovery-maintains-momentum-121101200093_1.html

 

7. Retail inflation eases to 4.35% in Sept; IIP grows 11.9% in August

https://www.business-standard.com/article/economy-policy/retail-inflation-eases-to-4-35-in-sept-iip-grows-11-9-in-august-121101201079_1.html

 

8. India retains 3rd position in RE investment attractiveness index

https://www.business-standard.com/article/economy-policy/india-retains-3rd-position-in-re-investment-attractiveness-index-121101300665_1.html

 

9. Retail sales near pre-Covid levels with 96% recovery: RAI

https://www.business-standard.com/article/economy-policy/retail-sales-near-pre-covid-levels-with-96-recovery-rai-121101300714_1.html

 

10. Indian economy is recovering from Covid-19 crisis: World Bank President

https://www.business-standard.com/article/economy-policy/indian-economy-is-recovering-from-covid-19-crisis-world-bank-president-121101301196_1.html

 

11. FM Sitharaman says India looking at near double-digit growth this year

https://www.business-standard.com/article/economy-policy/fm-sitharaman-says-india-looking-at-near-double-digit-growth-this-year-121101400060_1.html

 

12. WPI-based inflation falls in Sep, but stays in double digits at 10.66%

https://www.business-standard.com/article/economy-policy/wpi-based-inflation-falls-in-sep-but-stays-in-double-digits-at-10-66-121101400642_1.html

 

13. RBI monetary policy: Report pegs FY23's economic growth at 7.8%

https://www.business-standard.com/article/finance/rbi-monetary-policy-report-pegs-fy23-s-economic-growth-at-7-8-121100900039_1.html

 

14. Vaccine access for all key to global recovery, FM Nirmala Sitharaman tells G20 peers

https://economictimes.indiatimes.com/news/economy/policy/vaccine-access-for-all-key-to-global-recovery-fm-nirmala-sitharaman-tells-g20-peers/articleshow/87034055.cms

 

15. Sitharaman, Yellen discuss fighting money laundering, combating terror funding; importance of effective implementation of FATF standards

https://economictimes.indiatimes.com/news/economy/policy/sitharaman-yellen-discuss-fighting-money-laundering-combating-terror-funding-importance-of-effective-implementation-of-fatf-standards/articleshow/87036590.cms

 

16. Economy on steady track, coal crisis temporary, says finance secretary TV Somanathan

https://economictimes.indiatimes.com/news/economy/policy/economy-on-steady-track-coal-crisis-temporary-says-finance-secretary-tv-somanathan/articleshow/86981497.cms

 

17. UN, World Bank, IMF in need of urgent reforms: Finance Minister Nirmala Sitharaman

https://economictimes.indiatimes.com/news/economy/policy/un-world-bank-imf-in-need-of-urgent-reforms-finance-minister-nirmala-sitharaman/articleshow/86985302.cms

 

18. India in a much better position to handle taper now than 2013: Former RBI governor D Subbarao

https://economictimes.indiatimes.com/news/economy/policy/india-in-a-much-better-position-to-handle-taper-now-than-2013-former-rbi-governor-d-subbarao/articleshow/86995670.cms

 

19. Indian economy poised to attain double-digit growth in FY22: PHDCCI

https://economictimes.indiatimes.com/news/economy/indicators/indian-economy-poised-to-attain-double-digit-growth-in-fy22-phdcci/articleshow/86939895.cms

 

20. Indian economy is recovering from COVID-19 crisis; says World Bank President

https://economictimes.indiatimes.com/news/economy/indicators/indian-economy-is-recovering-from-covid-19-crisis-says-world-bank-president/articleshow/86996289.cms

 

21. Employment under MGNREGA in September falls to lowest since Covid outbreak

https://economictimes.indiatimes.com/news/economy/indicators/employment-under-mgnrega-in-september-falls-to-lowest-since-covid-outbreak/articleshow/87013482.cms

 

22. Consumer sentiments improve in October so far: CMIE

https://economictimes.indiatimes.com/news/economy/indicators/consumer-sentiments-improve-in-october-so-far-cmie/articleshow/87017392.cms

 

23. Explainer: Why the world is experiencing a sudden energy crisis

https://scroll.in/article/1007526/explainer-why-the-world-is-experiencing-a-sudden-energy-crisis

 

24. India’s inflation worries are not over even if the future looks a little brighter

https://scroll.in/article/1007367/indias-inflation-worries-are-not-over-even-if-the-future-looks-a-little-brighter

 

25. Where do Indian banks stand in the global fight against climate change?

https://scroll.in/article/1007245/where-do-indian-banks-stand-in-the-global-fight-against-climate-change

 

26. How the Government Can Strengthen the Digital Welfare Ecosystem for Unorganised Workers

https://thewire.in/government/eshram-portal-aadhaar-digital-india-unorganised-workers

 

27. As Power Crisis Loomed, Coal Secretary Put Coal India Ltd in the Dock

https://thewire.in/economy/as-power-crisis-loomed-coal-secretary-put-coal-india-limited-on-the-dock

 

28. ‘Pakoda’ Employment Has Increased Poverty Over the Last Eight Years

https://thewire.in/economy/pakoda-employment-has-increased-poverty-over-the-last-eight-years

 

29. India must focus on green public investment for inclusive recovery, IMF says

https://theprint.in/economy/india-must-focus-on-green-public-investment-for-inclusive-recovery-imf-says/750427/

 

30. Small units pack up, weavers prefer to be guards: How Covid ruined Karnataka garment industry

https://theprint.in/economy/small-units-pack-up-weavers-prefer-to-be-guards-how-covid-ruined-karnataka-garment-industry/750135/

 

31. Data | Jobs increase in rural India in September

https://www.thehindu.com/data/data-jobs-increase-in-rural-india-in-september/article36917306.ece

 

32. India's economy recovered very fast after tough phase of Covid pandemic: PM

https://www.business-standard.com/article/economy-policy/india-s-economy-recovered-very-fast-after-tough-phase-of-covid-pandemic-pm-121101500607_1.html

 

33. India slips to 101st rank in Global Hunger Index 2021; behind Pak, B'desh

https://www.business-standard.com/article/pti-stories/india-slips-to-101st-rank-in-global-hunger-index-2021-behind-pak-b-desh-and-nepal-121101401326_1.html

 

2. Public Finance

 

34. Revenue Deficit Grant of Rs 9,871 crore released to 17 states

https://www.business-standard.com/article/economy-policy/revenue-deficit-grant-of-rs-9-871-crore-released-to-17-states-121101100838_1.html

 

35. Govt debt likely to breach 90% of GDP this year, says IMF report

https://www.business-standard.com/article/economy-policy/govt-debt-likely-to-breach-90-of-gdp-this-year-says-imf-report-121101400064_1.html

Taxation

 

36. India to do away with equalisation levy once new global tax pact falls into place

https://www.thehindubusinessline.com/economy/india-to-do-away-with-equalisation-levy-once-new-global-tax-pact-falls-into-place/article36916020.ece

 

37. SC stay on GST on mining lease, royalty may impact other sectors, say experts

https://www.thehindubusinessline.com/economy/sc-stay-on-gst-on-mining-lease-royalty-may-impact-other-sectors-say-experts/article36992682.ece#:~:text=A%20Supreme%20Court%20stay%20on,sector%20and%20casinos%20as%20well.&text=The%20levy%20position%20was%20clarified,GST%20Council%20on%20September%2017.

 

38. Govt may consider higher GST, fewer rates to simplify structure: Report

https://www.business-standard.com/article/economy-policy/govt-may-consider-higher-gst-fewer-rates-to-simplify-structure-report-121101200126_1.

 

39. USISPF lauds India's role in global minimum corporate tax

https://economictimes.indiatimes.com/news/economy/policy/usispf-lauds-indias-role-in-global-minimum-corporate-tax/articleshow/87000114.cms

 

40. GSTN blocks Rs 14,000-crore input tax credits of 66,000 taxpayers

https://economictimes.indiatimes.com/news/economy/finance/gstn-blocks-rs-14000-crore-input-tax-credits-of-66000-taxpayers/articleshow/86965100.cms

 

41. 136 Nations Including India Agree to a Minimum Global Tax Rate of 15%

https://thewire.in/world/minimum-global-tax-rate-of-15-136-nations-india-tax-havens

 

3. Banking and Monetary Policy

 

42. RBI turns to mopping up liquidity

https://www.thehindubusinessline.com/money-and-banking/rbi-turns-to-mopping-up-liquidity/article36905141.ece

 

43. Maintaining status quo on rates will help further revive economy: Bankers

https://www.thehindubusinessline.com/money-and-banking/maintaining-status-quo-on-rates-will-help-further-revive-economy-bankers/article36903560.ece

 

44. RBI hikes IMPS daily transaction limit to ₹5 lakh

https://www.thehindubusinessline.com/money-and-banking/rbi-hikes-imps-daily-transaction-limit-to-5-lakh/article36903557.ece

 

45. A journey towards monetary normalization

https://www.thehindubusinessline.com/opinion/a-journey-towards-monetary-normalisation/article36901320.ece

 

46. Bond market concerned about Reserve Bank’s liquidity management

https://www.thehindubusinessline.com/money-and-banking/bond-market-concerned-about-reserve-banks-liquidity-management/article36932187.ece

 

47. Is the sun setting on ATMs?

https://www.thehindubusinessline.com/opinion/is-the-sun-setting-on-atms/article36949441.ece

 

48. AUMs of gold-loan NBFCs to rise 18–20%: Crisil Ratings

https://www.thehindubusinessline.com/money-and-banking/aums-of-nbfcs-to-rise-1820-y-o-y-this-fiscal-crisil-ratings/article36968227.ece

 

49. Bank credit to grow at 7.5–8% in FY22: CARE Ratings

https://www.thehindubusinessline.com/money-and-banking/bank-credit-to-grow-at-75-80-per-cent-for-fy22-care-ratings/article36938030.ece

 

50. Statsguru: Charting key factors, challenges behind India's credit ratings

https://www.business-standard.com/article/economy-policy/statsguru-charting-key-factors-challenges-behind-india-s-credit-ratings-121101000994_1.html

 

51. Icra slashes growth forecast for auto parts industry to 17-20% for FY22

https://www.business-standard.com/article/economy-policy/icra-slashes-growth-forecast-for-auto-parts-industry-to-17-20-for-fy22-121101100605_1.html

 

52. India fast moving towards full Capital account convertibility: RBI

https://economictimes.indiatimes.com/news/economy/policy/india-fast-moving-towards-full-capital-account-convertibility-rbi/articleshow/87022267.cms

 

4. External Sector

 

53. FPIs trim exposure to banking, financial stocks in H1 of FY22

https://www.thehindubusinessline.com/markets/stock-markets/fpis-trim-exposure-to-banking-financial-stocks-in-h1-of-fy22/article36932919.ece

 

54. Govt may share data on import surges with industry

https://www.thehindubusinessline.com/economy/govt-may-share-data-on-import-surges-with-industry-to-promote-local-substitution/article36949694.ece

 

55. Why the Ports Bill is raising States’ hackles

https://www.thehindubusinessline.com/opinion/why-the-ports-bill-is-raising-states-hackles/article36969202.ece

 

56. India-China trade volumes on course to touch record $100 billion-mark

https://www.business-standard.com/article/economy-policy/india-china-trade-volumes-on-course-to-touch-record-100-billion-mark-121101301244_1.html

 

57. Trade deficit at all-time high of $23 bn in Sept on festive season imports

https://www.business-standard.com/article/economy-policy/trade-deficit-at-all-time-high-of-23-bn-in-sept-on-festive-season-imports-121101401344_1.html

 

58. Sept trade gap at 14-year high, goods exports grow 22.76%

https://economictimes.indiatimes.com/news/economy/indicators/indias-september-trade-deficit-widens-to-record-22-6-billion/articleshow/87021447.cms

 

59. Aggressive marketing, timely roll out of FTAs to help exports touch $500 billion: Exporters

https://economictimes.indiatimes.com/news/economy/foreign-trade/aggressive-marketing-timely-roll-out-of-ftas-to-help-exports-touch-500-billion-exporters/articleshow/86911390.cms

 

60. Exim Bank targets $7 billion financing of project exports over 5 years

https://economictimes.indiatimes.com/news/economy/foreign-trade/exim-bank-targets-7-billion-financing-of-project-exports-over-5-years/articleshow/86990884.cms

 

61. India cuts import duty on cooking oils; September imports of palm oil are highest single month imports in 25 years

https://economictimes.indiatimes.com/news/economy/foreign-trade/india-cuts-import-duty-on-cooking-oils-september-imports-of-palm-oil-are-highest-single-month-imports-in-25-years/articleshow/86994316.cms

 

62. What Should the Future of Indian Banking Look Like?

https://thewire.in/economy/what-should-the-future-of-indian-banking-look-like

 

63. Trade imbalances, then pandemic — why Modi govt changed strategy on free trade agreements

https://theprint.in/economy/trade-imbalances-then-pandemic-why-modi-govt-changed-strategy-on-free-trade-agreements/749740/

 

5. Agriculture and Rural Economy

 

64. Animal husbandry needs greater attention

https://www.thehindubusinessline.com/opinion/columns/g-chandrashekhar/animal-husbandry-needs-greater-attention/article36969789.ece

 

65. ₹28,655-crore Centre’s subsidy on fertilisers for rabi season to benefit farmers, industry

https://www.thehindubusinessline.com/economy/agri-business/28655-crore-centres-subsidy-on-fertilisers-for-rabi-season-to-benefit-farmers-industry/article36991956.ece

 

66. Fertiliser subsidy in rabi season to benefit farmers, industry: ICRA

https://www.business-standard.com/article/economy-policy/fertiliser-subsidy-in-rabi-season-to-benefit-farmers-industry-icra-121101301091_1.html

 

6. Industry, Manufacturing, Services and Technology

 

67. How a bunch of start-ups are disrupting the traditional poultry, meat industry

https://www.thehindubusinessline.com/companies/how-a-bunch-of-start-ups-are-disrupting-the-traditional-poultry-meat-industry/article36936902.ece

 

68. Centre scraps import duty on crude edible oils, lowers agri cess

https://www.thehindubusinessline.com/markets/commodities/centre-cuts-duty-on-crude-edible-oils-to-zero-to-rein-in-surging-prices/article36981846.ece

 

69. NCR likely to shrink as 'Draft Regional Plan 2041' approved

https://www.business-standard.com/article/economy-policy/ncr-likely-to-shrink-as-draft-regional-plan-2041-approved-121101201569_1.html

 

70. Institutional investment in realty up 17% in July-Sep to $721 mn: Report

https://www.business-standard.com/article/economy-policy/institutional-investment-in-realty-up-17-in-july-sep-to-721-mn-report-121101300667_1.html

 

71. Factory output surges 11.9 per cent in August

https://economictimes.indiatimes.com/news/economy/indicators/factory-output-surges-to-11-9-per-cent-in-august/articleshow/86966788.cms

 

72. The Myth of Atmanirbhar Bharat in Defence Manufacturing

https://thewire.in/political-economy/the-myth-of-atmanirbhar-bharat-in-defence-manufacturing

 

73. PE investment in real estate up 24% YoY in July-Sept at Rs 3,500 cr: Report

https://www.business-standard.com/article/economy-policy/pe-investment-in-real-estate-up-24-yoy-in-july-sept-at-rs-3-500-cr-report-121101500601_1.html

 

74. Gati Shakti master plan may help cut logistics cost to 8% of GDP

https://www.business-standard.com/article/economy-policy/gati-shakti-master-plan-may-help-cut-logistics-cost-to-8-of-gdp-121101500037_1.html

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

75. A coup attempt at the IMF

https://www.tbsnews.net/thoughts/coup-attempt-imf-314218

 

76. Why More American Workers Are Quitting - The New York Times

https://www.nytimes.com/2021/10/14/opinion/workers-quitting-wages.html

 

77. Inside Republicans' Policy Rift With Corporate America - The New York Times

https://www.nytimes.com/2021/10/12/opinion/republicans-corporations-extremism.html

 

78. A Deserved Nobel Economics Prize Reminds Us Facts Matter - The New York Times

https://www.nytimes.com/2021/10/11/opinion/nobel-prize-economics.html

 

79. Opinion | Wonking Out: Coins and Credibility

https://www.nytimes.com/2021/10/08/opinion/coins-debt-ceiling-default.html

 

80. Opinion | What if Things Are About to Get Better?

https://www.nytimes.com/2021/10/07/opinion/recovery-covid-economy.html

 

81. The case for data-driven activist economic policies

https://www.seattletimes.com/opinion/the-case-for-data-driven-activist-economic-policies/

 

82. Higher wages don't mean lower employment – a proof - Times of India

https://timesofindia.indiatimes.com/world/us/higher-wages-dont-mean-lower-employment-a-proof/articleshow/86962215.cms

 

8. Other Articles/ Columns

 

83. Nobel Economics Prize Goes to ‘Natural Experiments’ Pioneers

https://thewire.in/economy/nobel-economics-prize-goes-to-natural-experiments-pioneers

           

• Ideas for India

 

84. Does access liberalise gender norms around phone use for rural women?

https://www.ideasforindia.in/topics/social-identity/does-access-liberalise-gender-norms-around-phone-use-for-rural-women.html

 

85. Understanding the dynamics of the rupee-dollar exchange rate

https://www.ideasforindia.in/topics/macroeconomics/understanding-the-dynamics-of-the-rupee-dollar-exchange-rate.html

 

• The India Forum

 

86. Making Sense of India’s Measures of Unemployment

https://www.theindiaforum.in/article/india-measures-unemployment?utm_source=website&utm_medium=organic&utm_campaign=category&utm_content=Economy

 

87. A Rocky Road to Resolution

Achievements and struggles of India’s Insolvency Code

https://www.theindiaforum.in/article/rocky-road-resolution?utm_source=website&utm_medium=organic&utm_campaign=homepage&utm_content=Top-article

 

88. Growing Distress and a Falling Unemployment Rate

https://www.theindiaforum.in/article/rising-distress-and-falling-unemployment-rate-what-going?utm_source=website&utm_medium=organic&utm_campaign=category&utm_content=Economy

 

• EPW

 

Commentary

 

89. Fifteenth Finance Commission Recommendations

An Appraisal

https://www.epw.in/journal/2021/41/commentary/fifteenth-finance-commission-recommendations.html

 

Perspectives

 

90. Is Contraceptive Prevalence Declining in India?

An Appraisal Based on NFHS-4

https://www.epw.in/journal/2021/41/perspectives/contraceptive-prevalence-declining-india.html

 

Special Articles

 

91. Export-induced Loss in Employment and Earnings during the First Year of the COVID-19 Pandemic

https://www.epw.in/journal/2021/41/special-articles/export-induced-loss-employment-and-earnings-during.html

 

92. An Evidence-based Inquiry into the Endosulfan Tragedy in Kasaragod, Kerala

https://www.epw.in/journal/2021/41/special-articles/evidence-based-inquiry-endosulfan-tragedy.html

 

93. Analysing Core Indicators of Decent Work for the Indian Fisheries Sector

https://www.epw.in/journal/2021/41/special-articles/analysing-core-indicators-decent-work-indian.html

 

• Project Syndicate

 

94. China's Loss Can Be Southeast Asia's Gain

https://www.project-syndicate.org/commentary/china-loss-of-production-can-be-gain-for-southeast-asia-by-keun-lee-2021-10?a_la=english&a_d=6163fab38235aed4ae449b10&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=china-loss-of-production-can-be-gain-for-southeast-asia-by-keun-lee-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

95. The Metamorphosis of Growth Policy

https://www.project-syndicate.org/commentary/new-growth-policies-for-developing-countries-by-dani-rodrik-2021-10?a_la=english&a_d=616408998235aed4ae63457c&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=new-growth-policies-for-developing-countries-by-dani-rodrik-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

96. The Real Rot at the IMF

https://www.project-syndicate.org/commentary/doing-business-scandal-highlights-deep-imf-problems-by-jayati-ghosh-2021-10?a_la=english&a_d=61656f2e266afbab515cc266&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=doing-business-scandal-highlights-deep-imf-problems-by-jayati-ghosh-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

97. The Great Supply-Chain Massacre

https://www.project-syndicate.org/commentary/current-supply-shocks-and-2008-global-financial-crisis-by-diane-coyle-2021-10?a_la=english&a_d=61694c7ddd53b72cd279969f&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=current-supply-shocks-and-2008-global-financial-crisis-by-diane-coyle-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

98. Does anyone actually understand inflation?

https://www.economist.com/finance-and-economics/2021/10/09/does-anyone-actually-understand-inflation

 

99. A different approach to investing in developing countries

https://www.economist.com/finance-and-economics/2021/10/09/a-different-approach-to-investing-in-developing-countries

 

100. The Nobel prize in economics celebrates an empirical revolution

https://www.economist.com/finance-and-economics/2021/10/12/the-nobel-prize-in-economics-celebrates-an-empirical-revolution

 

101. Wages are surging across the rich world

https://www.economist.com/finance-and-economics/2021/10/13/wages-are-surging-across-the-rich-world

 

102. The IMF decides to keep its boss

https://www.economist.com/finance-and-economics/2021/10/16/the-imf-decides-to-keep-its-boss

 

103. A new study finds that dirty money remains easy to hide

https://www.economist.com/finance-and-economics/2021/10/16/a-new-study-finds-that-dirty-money-remains-easy-to-hide

 

104. Another upward force on American inflation: the housing boom

https://www.economist.com/finance-and-economics/2021/10/16/another-upward-force-on-american-inflation-the-housing-boom

 

9. News on Kerala

 

105. Kerala likely to make online payment mandatory for higher tax amounts

https://www.thehindu.com/news/national/kerala/kerala-likely-to-make-online-payment-mandatory-for-higher-tax-amounts/article36927493.ece

 

106. Govt. concerned about foreign takeover of CSB: Balagopal

https://www.thehindu.com/news/national/kerala/govt-concerned-about-foreign-takeover-of-csb-balagopal/article36946192.ece

 

107. Local bodies asked to park funds in treasury accounts

https://www.thehindu.com/news/national/kerala/local-bodies-asked-to-park-funds-in-treasury-accounts/article36967001.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