Weekly Updates on the Indian Economy

(23/10/2021 to 29/10/2021)

1. National Accounts and State of the Economy

 

1. Festival season fuels India’s return to world-beating growth

https://www.thehindubusinessline.com/economy/festive-season-fuels-indias-return-to-world-beating-growth/article37185221.ece

 

2. Inflation could singe Indian consumers as manufacturers hike prices.

https://www.thehindubusinessline.com/economy/inflation-could-singe-indian-consumers-as-manufacturers-hike-prices/article37225070.ece

 

3. Centre to revise wage computation for rural, agricultural workers

https://www.thehindubusinessline.com/economy/centre-to-revise-wage-computation-for-rural-agricultural-workers/article37220056.ece

 

4. Inflation, high oil prices temporary; economy opening up: Officials

https://www.business-standard.com/article/economy-policy/inflation-high-oil-prices-temporary-economy-opening-up-officials-121102201557_1.html

 

5. PHDCCI expects strong GDP growth expected in coming quarters

https://www.business-standard.com/article/economy-policy/phdcci-expects-strong-gdp-growth-expected-in-coming-quarters-121102400639_1.html

 

6. Commodity price rise can bump up inflation by 1%, warns Nomura

https://www.business-standard.com/article/economy-policy/commodity-price-rise-can-bump-up-inflation-by-1-warns-nomura-121102500466_1.html

 

7. IMF revising India's growth forecast is 'gross under estimation': N K Singh

https://www.business-standard.com/article/economy-policy/imf-revising-india-s-growth-forecast-is-gross-under-estimation-n-k-singh-121102601542_1.html

 

8. Stimulus package and reforms have put economy on track: FM Sitharaman

https://www.business-standard.com/article/economy-policy/stimulus-package-and-reforms-have-put-economy-on-track-fm-sitharaman-121102700046_1.html

 

9. Biz sentiment hit two-year high in Q2 as Covid second wave eased off: NCAER

https://www.business-standard.com/article/economy-policy/biz-sentiment-hit-two-year-high-in-q2-as-covid-second-wave-eased-off-ncaer-121102700059_1.html

 

10. Ration shops may soon start selling small LPG cylinders, financial products

https://www.business-standard.com/article/economy-policy/ration-shops-may-soon-start-selling-small-lpg-cylinders-financial-products-121102701538_1.html

 

11. 2-3x spike in vendor numbers across Indian markets ahead of Diwali: Study

https://www.business-standard.com/article/economy-policy/2-3x-spike-in-vendor-numbers-across-indian-markets-ahead-of-diwali-study-121102701643_1.html

 

12. Purchasing intention gets a boost as economy shows signs of recovery

https://www.business-standard.com/article/economy-policy/purchasing-intention-gets-a-boost-as-economy-shows-signs-of-recovery-121102800042_1.html

 

13. Tepid response to restructuring reflects positive turn in demand outlook: CRISIL Ratings

https://www.thehindubusinessline.com/economy/tepid-response-to-restructuring-reflects-positive-turn-in-demand-outlook-crisil-ratings/article37207078.ece

 

14. R&D ecosystem of OECD countries: Lessons for the Indian economy

https://economictimes.indiatimes.com/news/economy/policy/rd-ecosystem-of-oecd-countries-what-can-we-learn/articleshow/87296176.cms

 

15. Finance ministry approves 8.5% return on PF deposits for FY21

https://economictimes.indiatimes.com/news/economy/policy/finance-ministry-approves-8-5-return-on-pf-deposits-for-fy21/articleshow/87350985.cms

 

16.  Most sectors of economy on way to reach pre-pandemic levels, surpass them: NCAER

https://economictimes.indiatimes.com/news/economy/indicators/most-sectors-of-economy-on-way-to-reach-pre-pandemic-levels-surpass-them-ncaer/articleshow/87337514.cms

 

17. Rising petrol, diesel prices make households in top-10 cities budget-conscious: Survey

https://economictimes.indiatimes.com/news/economy/indicators/rising-petrol-diesel-prices-make-households-in-top-10-cities-budget-conscious-survey/articleshow/87236488.cms

 

18. RBI remains laser-focused to bring back inflation to 4 per cent: Governor Shaktikanta Das

https://economictimes.indiatimes.com/news/economy/policy/rbi-remains-laser-focused-to-bring-back-inflation-to-4-per-cent-governor-shaktikanta-das/articleshow/87210696.cms

 

19. Economy likely to register 9.5 pc growth this fiscal: Report

https://economictimes.indiatimes.com/news/economy/indicators/economy-likely-to-register-9-5-pc-growth-this-fiscal-report/articleshow/87259946.cms

 

20. Q3 growth poised for sequential rebound: Nomura

https://economictimes.indiatimes.com/news/economy/indicators/q3-growth-poised-for-sequential-rebound-nomura/articleshow/87265091.cms

 

21. Higher fuel and food prices dampen festive spirit for Indians

https://economictimes.indiatimes.com/news/economy/indicators/higher-fuel-and-food-prices-dampen-festive-spirit-for-indians/articleshow/87271427.cms

 

22. Morgan Stanley downgrades India to equal-weight

https://economictimes.indiatimes.com/news/economy/indicators/morgan-stanley-downgrades-india-to-equal-weight/articleshow/87328851.cms

 

23. ILO revises upwards estimate for loss of work hours globally in 2011 due to Covid

https://economictimes.indiatimes.com/news/economy/indicators/ilo-revises-upwards-estimate-for-loss-of-work-hours-globally-in-2011-due-to-covid/articleshow/87308994.cms

 

24. ADB, AIIB processing $2 billion loan for India to buy COVID-19 vaccines

https://economictimes.indiatimes.com/news/economy/finance/adb-aiib-processing-2-billion-loan-for-india-to-buy-covid-19-vaccines/articleshow/87310509.cms

 

25. Govt gets Rs 413 crore as dividend from 5 CPSEs

https://economictimes.indiatimes.com/news/economy/finance/govt-gets-rs-413-crore-as-dividend-from-5-cpses/articleshow/87344016.cms

 

26. India’s transition to renewable energy could be jeopardised because of over-reliance on natural gas

https://scroll.in/article/1008058/indias-transition-to-renewable-energy-could-be-jeopardised-because-of-over-reliance-on-natural-gas

 

27. Is Indian inflation something for our policymakers to worry about?

https://www.livemint.com/opinion/online-views/is-indian-inflation-something-for-our-policymakers-to-worry-about-11635439027275.html

 

28. Data | Where does India stand on the global hunger index?

https://www.thehindu.com/data/where-does-india-stand-on-the-global-hunger-index/article37140124.ece

 

2. Public Finance

 

29. Govt likely to introduce 2 key financial sector bills in winter session

https://www.business-standard.com/article/economy-policy/govt-likely-to-introduce-2-key-financial-sector-bills-in-winter-session-121102400192_1.html

 

30. Fiscal deficit likely to stay at budget estimate of 6.8% of GDP in 2021-22

https://www.business-standard.com/article/economy-policy/fiscal-deficit-likely-to-stay-at-budget-estimate-of-6-8-of-gdp-in-2021-22-121102500048_1.html

 

31. Centre expects tax revenues to be above 10% budget target: Officials

https://www.business-standard.com/article/economy-policy/india-s-tax-revenues-likely-to-beat-forecast-on-strong-recovery-officials-121102600778_1.html

 

32. With Rs 1.1 lakh crore budget, stage set for big capital expenditure push

https://economictimes.indiatimes.com/news/economy/policy/with-rs-1-1-lakh-crore-budget-stage-set-for-big-capital-expenditure-push/articleshow/87332015.cms

Taxation

 

33. Right of GST refund, probe not interlinked: Karnataka HC

https://www.thehindubusinessline.com/economy/right-of-gst-refund-probe-not-interlinked-karnataka-hc/article37130262.ece

 

34. Form ITC-04 to be filed by Oct 25; GSTR-3B return by Oct 24

https://www.business-standard.com/article/economy-policy/form-itc-04-to-be-filed-by-oct-25-gstr-3b-return-by-oct-24-121102300197_1.html

 

35. AAR says no GST exemption for tourist vehicles carrying Covid patients

https://www.business-standard.com/article/current-affairs/aar-says-no-gst-exemption-for-tourist-vehicles-carrying-covid-patients-121102601487_1.html

 

36. Centre releases ₹44,000 cr to states as last tranche of back-to-back loan for GST shortfall

https://www.thehindubusinessline.com/economy/policy/centre-releases-44000-cr-as-last-tranche-of-back-to-back-loan-for-gst-shortfall/article37212158.ece

 

37. Pen makers ask Finance Ministry to reduce GST rate

https://economictimes.indiatimes.com/news/economy/policy/pen-makers-ask-finance-ministry-to-reduce-gst-rate/articleshow/87229301.cms

 

38. Only a goods supplier can apply for GST advance ruling

https://economictimes.indiatimes.com/news/economy/finance/only-a-goods-supplier-can-apply-for-gst-advance-ruling/articleshow/87219512.cms

 

39. India's tax revenues likely to beat forecast on strong recovery - officials

https://economictimes.indiatimes.com/news/economy/finance/indias-tax-revenues-likely-to-beat-forecast-on-strong-recovery-officials/articleshow/87275096.cms

 

40. Explained: Here's Why Modi Govt's High Taxes on Fuel Don't Just Affect 5% of India

https://thewire.in/economy/explainer-narendra-modi-fuel-price-taxed-upendra-tiwari

 

41. ‘Tax revenue set to beat forecast’

https://www.thehindu.com/business/tax-revenue-set-to-beat-forecast/article37180694.ece

 

3. Banking and Monetary Policy

 

42. Nomura downgrades India equities to 'neutral' over unfavourable risk-reward

https://www.business-standard.com/article/economy-policy/nomura-downgrades-india-equities-to-neutral-over-unfavourable-risk-reward-121102500355_1.html

 

43. Swap rates in India surge as traders see Reserve Bank turning hawkish

https://www.business-standard.com/article/economy-policy/swap-rates-in-india-surge-as-traders-see-reserve-bank-turning-hawkish-121102700392_1.html

 

44. Important to restore faith in NBFCs, says Reserve Bank of India

https://economictimes.indiatimes.com/news/economy/policy/important-to-restore-faith-in-nbfcs-says-reserve-bank-of-india/articleshow/87205375.cms

 

45. Govt may not infuse capital into state-run banks in FY23

https://economictimes.indiatimes.com/news/economy/finance/govt-may-not-infuse-capital-into-state-run-banks-in-fy23/articleshow/87265040.cms

 

46. IMF advises RBI to go slow on reserves accumulation

https://economictimes.indiatimes.com/news/economy/finance/imf-advises-rbi-to-go-slow-on-reserves-accumulation/articleshow/87343191.cms

 

47. MoS Finance Bhagwat Karad urges banks to improve credit penetration in NE states

https://economictimes.indiatimes.com/news/economy/finance/mos-finance-bhagwat-karad-urges-banks-to-improve-credit-penetration-in-ne-states/articleshow/87360764.cms

 

48. Shaktikanta Das reappointed as Reserve Bank of India governor for another three years

https://scroll.in/latest/1009301/shaktikanta-das-reappointed-as-reserve-bank-of-india-governor-for-another-three-years

 

49. Banks to give loans worth ₹11,168 crore: FM

https://www.thehindu.com/business/banks-to-give-loans-worth-11168-crore-fm/article37180510.ece

 

 

 

4. External Sector

 

50. India at halfway mark in meeting the export target of $400 billion

https://www.thehindubusinessline.com/economy/india-at-halfway-mark-in-meeting-the-export-target-of-400-billion/article37144055.ece

 

51. ‘China using pandemic as an excuse to block Indian imports’

https://www.thehindubusinessline.com/economy/china-using-pandemic-as-an-excuse-to-block-indian-imports/article37153621.ece

 

52. India's foreign exchange reserves up by $1.492 billion to $641 billion

https://www.business-standard.com/article/economy-policy/india-s-foreign-exchange-reserves-up-by-1-492-billion-to-641-billion-121102201246_1.html

 

53. Rajnath pitches for DefExpo 2022, claims exports up by 334% in 5 years

https://www.business-standard.com/article/economy-policy/rajnath-pitches-for-defexpo-2022-claims-exports-up-by-334-in-5-years-121102500778_1.html

 

54. China-Plus-One to push Indian textile exports to $65 bn by 2026: Study

https://www.business-standard.com/article/economy-policy/china-plus-one-to-push-indian-textile-exports-to-65-bn-by-2026-study-121102700962_1.html

 

55. TN reconstitutes committee to give impetus to exports

https://www.thehindubusinessline.com/economy/tn-reconstitutes-committee-to-give-impetus-to-exports/article37224882.ece

 

56. Let rupee gain to contain imported inflation, boost exports: Report

https://economictimes.indiatimes.com/news/economy/foreign-trade/let-rupee-gain-to-contain-imported-inflation-boost-exports-report/articleshow/87339137.cms

 

57. Zeroing-in on doubling output, exports of ODOP items in 5 years

https://economictimes.indiatimes.com/news/economy/foreign-trade/zeroing-in-on-doubling-output-exports-of-odop-items-in-5-years/articleshow/87332890.cms

 

58. Will hear India's concerns: WTO DG Ngozi Okonjo-Iweala

https://economictimes.indiatimes.com/news/economy/foreign-trade/will-hear-indias-concerns-wto-dg-ngozi-okonjo-iweala/articleshow/87213320.cms

 

59. Easy cargo movement, startup collaboration key for India-ASEAN relationship: CII

https://economictimes.indiatimes.com/news/economy/foreign-trade/easy-cargo-movement-startup-collaboration-key-for-india-asean-relationship-cii/articleshow/87202454.cms

 

60. India hopeful of early outcome on TRIPS waiver proposal at WTO

https://economictimes.indiatimes.com/news/economy/foreign-trade/india-hopeful-of-early-outcome-on-trips-waiver-proposal-at-wto/articleshow/87192586.cms

 

61. Forex reserves up by USD 1.492 billion to USD 641 billion

https://economictimes.indiatimes.com/news/economy/finance/forex-reserves-up-by-usd-1-492-billion-to-usd-641-billion/articleshow/87209219.cms

 

5. Agriculture and Rural Economy

 

62. Indian sugar exports face 3 challenges, says Food Secretary

https://www.thehindubusinessline.com/economy/agri-business/sugar-exporters-face-new-challenges-says-food-secretary/article37189066.ece

 

63. ‘Raise domestic natural rubber output to curb imports’

https://www.thehindubusinessline.com/economy/agri-business/raise-domestic-natural-rubber-output-to-curb-imports/article37157613.ece

 

64. Rain effect on relatively less area on tomato, onion crops: Govt data

https://www.business-standard.com/article/economy-policy/rain-effect-on-relatively-less-area-on-tomato-onion-crops-govt-data-121102300184_1.html

 

65. Monsoon 2021 expected to rescue India's agriculture in FY22

https://www.business-standard.com/article/economy-policy/monsoon-2021-expected-to-rescue-india-s-agriculture-in-fy22-121102300433_1.html

 

66. India's rural economy shows uneven growth as Covid-19 spread eases

https://www.business-standard.com/article/economy-policy/india-s-rural-economy-shows-uneven-growth-as-covid-19-spread-eases-121102600060_1.html

 

67. Govt’s plan to tackle edible oil price rise: Push for domestic rice bran oil production

https://theprint.in/economy/govts-plan-to-tackle-edible-oil-price-rise-push-for-domestic-rice-bran-oil-production/755133/

 

6. Industry, Manufacturing, Services and Technology

 

68. Covid shrinks India's restaurant industry by half: NRAI report

https://www.thehindubusinessline.com/news/restaurant-industry-contracts-53-due-to-pandemic-nrai-report/article37164765.ece

 

69. Govt expects Indian electronics manufacturing to reach $300 bn: MoS IT

https://www.business-standard.com/article/economy-policy/govt-expects-indian-electronics-manufacturing-to-reach-300-bn-mos-it-121102201738_1.html

 

70. Rent of retail space up 11-17% in Delhi's upscale mkts in July-Sep

https://www.business-standard.com/article/economy-policy/rent-of-retail-space-up-11-17-in-delhi-s-upscale-mkts-in-july-sep-121102400189_1.html

 

71. 438 infrastructure projects show cost overrun of Rs 4.3 trillion

https://www.business-standard.com/article/economy-policy/438-infrastructure-projects-show-cost-overrun-of-rs-4-3-trillion-121102400204_1.html

 

72. Govt, industry need to cooperate to build Brand India in textiles: Report

https://www.business-standard.com/article/economy-policy/govt-industry-need-to-cooperate-to-build-brand-india-in-textiles-report-121102400672_1.html

 

73. Nearly 65% of infrastructure projects delayed by Covid-induced lockdowns

https://www.business-standard.com/article/economy-policy/nearly-65-of-infrastructure-projects-delayed-by-covid-induced-lockdowns-121102600737_1.html

 

74. India targets major global firms for local battery manufacturing: Report

https://www.business-standard.com/article/economy-policy/india-targets-major-global-firms-for-local-battery-manufacturing-report-121102601481_1.html

 

75. India ranked 9th in VC funding for climate tech globally: Report

https://www.business-standard.com/article/economy-policy/india-ranked-9th-in-vc-funding-for-climate-tech-globally-report-121102601753_1.html

 

76. Current, future sentiment index in real estate at all-time high: Report

https://www.business-standard.com/article/economy-policy/current-future-sentiment-index-in-real-estate-at-all-time-high-report-121102700078_1.html

 

77. Online Furniture and home market to touch $40 billion GMV by 2026: Redseer

https://www.thehindubusinessline.com/economy/online-furniture-and-home-market-to-touch-40-billion-gmv-by-2026-redseer/article37204759.ece

 

78. Real estate sector to touch $1 trillion by 2030: Kant

https://economictimes.indiatimes.com/news/economy/finance/real-estate-sector-to-touch-1-trillion-by-2030-kant/articleshow/87209359.cms

 

79. India’s productivity challenge is especially steep in service sectors

https://www.livemint.com/opinion/online-views/indias-productivity-challenge-is-especially-steep-in-service-sectors-11635180311422.html

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

80. Christian Lindner: "It Would Be a Mistake to Grant Him His Wish"

https://www.zeit.de/politik/deutschland/2021-10/christian-lindner-finance-minister-traffic-light-coalition-koalition-critics-englisch

 

81. On Vaccines and More, Republican Cowardice Harms America - The New York Times

https://www.nytimes.com/2021/10/28/opinion/republicans-vaccines.html

 

82. What 'Dune' Gets Right that 'Foundation' Doesn't - The New York Times

https://www.nytimes.com/2021/10/26/opinion/dune-movie-foundation-series.html

 

83. Opinion | Tax the Rich, Help America’s Children

https://www.nytimes.com/2021/10/25/opinion/democrats-child-benefit-tax.html

 

84. Of shots and supply-chain snarls

https://www.businesstimes.com.sg/opinion/of-shots-and-supply-chain-snarls

 

8. Other Articles/ Columns

 

• Ideas for India

 

85. Credit risk management policies of banks: A new approach

https://www.ideasforindia.in/topics/money-finance/credit-risk-management-policies-of-banks-a-new-approach.html

 

86. Intellectual property rights and wage inequality

https://www.ideasforindia.in/topics/productivity-innovation/intellectual-property-rights-and-wage-inequality.html

 

87. Covid-19: Impact on migrant workers in Bihar

https://www.ideasforindia.in/topics/poverty-inequality/covid-19-impact-on-migrant-workers-in-bihar.html

 

• EPW

 

Commentary

 

88. New Initiatives for Democratic Decentralisation in Haryana

https://www.epw.in/journal/2021/43/commentary/new-initiatives-democratic-decentralisation.html

 

Special Articles

 

89. Sex Work, Sex Trafficking, and Myopia of the State

https://www.epw.in/journal/2021/43/special-articles/sex-work-sex-trafficking-and-myopia-state.html

 

90. NEP 2020 and the Language-in-Education Policy in India

https://www.epw.in/journal/2021/43/special-articles/nep-2020-and-language-education-policy-india.html

 

91. Understanding the Skills and Livelihood Aspirations of the Working Homeless Men of Yamuna Pushta

https://www.epw.in/journal/2021/43/special-articles/understanding-skills-and-livelihood-aspirations.html

 

• Project Syndicate

 

92. The Revenge of Supply

https://www.project-syndicate.org/commentary/supply-shortages-inflation-result-of-government-policies-by-john-h-cochrane-2021-10?a_la=english&a_d=6172c5f18c4b4cac347b9520&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=supply-shortages-inflation-result-of-government-policies-by-john-h-cochrane-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

93. Clean Energy Has Won the Economic Race

https://www.project-syndicate.org/commentary/clean-energy-beats-fossil-fuels-in-market-terms-by-jules-kortenhorst-2021-10?a_la=english&a_d=6176d735d10d63712b5584e2&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=clean-energy-beats-fossil-fuels-in-market-terms-by-jules-kortenhorst-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

94. Tax the Rich!

https://www.project-syndicate.org/commentary/g20-should-endorse-higher-tax-on-profits-and-wealth-by-peter-singer-2021-10?a_la=english&a_d=61790e88f70566fd19ffcc46&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=g20-should-endorse-higher-tax-on-profits-and-wealth-by-peter-singer-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

95. A Progressive Monetary Policy Is the Only Alternative

https://www.project-syndicate.org/commentary/progressive-recipe-for-monetary-policy-tightening-by-yanis-varoufakis-2021-10?a_la=english&a_d=617aafd2857cd4fe70b070fb&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=progressive-recipe-for-monetary-policy-tightening-by-yanis-varoufakis-2021-10&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

96. Why currency volatility could make a comeback

https://www.economist.com/finance-and-economics/2021/10/30/why-currency-volatility-could-make-a-comeback

 

97. As energy prices spike, governments reach for the dirtiest tool in the box

https://www.economist.com/finance-and-economics/2021/10/30/as-energy-prices-spike-governments-reach-for-the-dirtiest-tool-in-the-box

 

98. Why it matters when trades settle

https://www.economist.com/finance-and-economics/2021/10/23/why-it-matters-when-trades-settle

 

99. How soaring energy costs could hobble the covid-19 recovery

https://www.economist.com/finance-and-economics/2021/10/23/how-soaring-energy-costs-could-hobble-the-covid-19-recovery

 

9. News on Kerala

 

100. Centre to support incubation of new method developed by Kerala-based farmer to control pests in cashew gardens

https://economictimes.indiatimes.com/news/economy/agriculture/centre-to-support-incubation-of-new-method-developed-by-kerala-based-farmer-to-control-pests-in-cashew-gardens/articleshow/87261780.cms

 

101. India's rubber output dented by heavy rains in Kerala, to lift imports

https://economictimes.indiatimes.com/news/economy/agriculture/indias-rubber-output-dented-by-heavy-rains-in-kerala-to-lift-imports/articleshow/87252900.cms

 

102. Kerala Excise Minister says liquor consumption in State dropped in 2020-21, a period marked by lockdown after COVID-19 outbreak

https://www.thehindu.com/news/national/kerala/kerala-excise-minister-says-liquor-consumption-in-state-dropped-in-2020-21-a-period-marked-by-lockdown-after-covid-19-outbreak/article37191720.ece

 

103. At 6, Kerala’s single-digit IMR a great achievement

https://www.thehindu.com/news/national/kerala/at-6-keralas-single-digit-imr-a-great-achievement/article37195817.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