Weekly Updates on the Indian Economy

(20/11/2021 to 26/11/2021)

1. National Accounts and State of the Economy

 

1. Growth likely to be in the range of 7.8-8.3% in July-September quarter

https://www.thehindubusinessline.com/economy/growth-likely-to-be-in-the-range-of-78-83-in-july-september-quarter/article37627233.ece

 

2. Nomura India business index hits new high of 114

https://www.thehindubusinessline.com/money-and-banking/nibri-hits-new-high-of-114/article37623917.ece

 

3. The duality in India’s economic recovery

https://www.thehindubusinessline.com/opinion/the-duality-in-indias-economic-recovery/article37649864.ece

 

4. CPI weights do not reflect Covid-19 pandemic realities, shows analysis

https://www.business-standard.com/article/economy-policy/cpi-weights-do-not-reflect-covid-19-pandemic-realities-shows-analysis-121112000128_1.html

 

5. Inflation heat: Consumer goods firms' share in India Inc profit drops

https://www.business-standard.com/article/companies/inflation-heat-consumer-goods-firms-share-in-india-inc-profit-drops-121112200010_1.html

 

6. India's FY22 GDP projection upgraded to 9.3%-9.6% range: SBI Ecowrap

https://www.business-standard.com/article/economy-policy/india-s-fy22-gdp-projection-upgraded-to-9-3-9-6-range-sbi-ecowrap-121112200749_1.html

 

7. Indian consumers spend to live in the moment despite inflation heat: Survey

https://www.business-standard.com/article/economy-policy/indian-consumers-spend-to-live-in-the-moment-despite-inflation-heat-survey-121112201064_1.html

 

8. India's Q2 GDP likely to grow 8.1%, says SBI research report

https://www.business-standard.com/article/economy-policy/india-s-q2-gdp-likely-to-grow-8-1-says-sbi-research-report-121112300005_1.html

 

9. GDP growth to accelerate further to 9.8% in FY23: Goldman Sachs

https://www.business-standard.com/article/economy-policy/gdp-growth-to-accelerate-further-to-9-8-in-fy23-goldman-sachs-121112301286_1.html

 

10. New Wage Rate Index series released; base year revised to 2016 from 1963-65

https://www.business-standard.com/article/economy-policy/new-wage-rate-index-series-released-base-year-revised-to-2016-from-1963-65-121112401259_1.html

 

11. Pandemic relief: Centre extends 5 kg ration scheme under PMGKAY till March

https://www.business-standard.com/article/economy-policy/pandemic-relief-centre-extends-5-kg-ration-scheme-under-pmgkay-till-march-121112500068_1.html

 

12. Business activity at highest levels since pandemic began as more people go to work: Report

https://economictimes.indiatimes.com/news/economy/indicators/business-activity-at-highest-levels-since-pandemic-began-as-more-people-go-to-work-report/articleshow/87850772.cms

 

13. Retail pulses inflation likely to stay under 5% in H2FY22: Ind-Ra

https://economictimes.indiatimes.com/news/economy/indicators/retail-pulses-inflation-likely-to-stay-under-5-in-h2fy22-ind-ra/articleshow/87854777.cms

 

14. Services, trade help power steady economic recovery in India

https://economictimes.indiatimes.com/news/economy/indicators/services-trade-help-power-steady-economic-recovery-in-india/articleshow/87881410.cms

 

15. Remittances under LRS up 56 per cent in H1'22

https://economictimes.indiatimes.com/news/economy/indicators/remittances-under-lrs-up-56-per-cent-in-h122/articleshow/87893021.cms

 

16. India eco growth to rebound strongly, FY22 GDP growth pegged at 9.3%: Moody’s

https://economictimes.indiatimes.com/news/economy/indicators/india-eco-growth-to-rebound-strongly-fy22-gdp-growth-pegged-at-9-3-moodys/articleshow/87903277.cms

 

17. Formal job creation on the rise: MoSPI

https://economictimes.indiatimes.com/news/economy/indicators/formal-job-creation-on-the-rise-mospi/articleshow/87915086.cms

 

18. As the economy steadies, India hits a record high on a key emerging market index

https://scroll.in/article/1011210/as-the-economy-steadies-india-hits-a-record-high-on-a-key-emerging-market-index

 

2. Public Finance

 

19. Govt to exceed tax collection target in FY22: Revenue secy Tarun Bajaj

https://www.business-standard.com/article/pti-stories/govt-to-exceed-fy22-tax-collection-target-direct-tax-mop-up-at-rs-6-lakh-cr-till-oct-revenue-secy-121112100361_1.html

 

20. FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch

https://www.business-standard.com/article/pti-stories/centre-s-fy22-fiscal-deficit-may-be-better-at-6-6-pc-on-stronger-than-expected-tax-buoyancy-fitch-121112200731_1.html

 

21. Centre releases Rs 95,082 cr to states as November tax devolution

https://www.business-standard.com/article/economy-policy/centre-releases-rs-95-082-cr-to-states-as-november-tax-devolution-121112300968_1.html

 

22. Telangana, Kerala top in H1 capex; UP, Maha among laggards: Report

https://economictimes.indiatimes.com/news/economy/finance/telangana-kerala-top-in-h1-capex-up-maha-among-laggards-report/articleshow/87915218.cms

Taxation

 

23. Centre notifies GST rate changes for footwear, textiles to correct inverted duty structure

https://www.thehindubusinessline.com/news/centre-notifies-gst-rate-changes-for-footwear-textiles-to-correct-inverted-duty-structure/article37586421.ece

 

24. Ministry says uniform GST in textiles across categories to boost growth, create jobs

https://www.thehindubusinessline.com/economy/policy/ministry-says-uniform-gst-in-textiles-across-categories-to-boost-growth-create-jobs/article37627817.ece

 

25. GST collections indicate economic revival

https://www.thehindubusinessline.com/opinion/gst-collections-in-a-good-state/article37630678.ece

 

26. Gadkari to talk to Finance Minister on GST rebate

https://www.thehindubusinessline.com/economy/policy/plan-to-suggest-tax-rebate-under-vehicle-scrappage-policy-nitin-gadkari/article37649309.ece

 

27. GoM to consider raising bullion GST rates; merger, hikes of slabs on Nov 27

https://www.thehindubusinessline.com/economy/gom-to-consider-raising-bullion-gst-rates-merger-hikes-of-slabs-on-nov-27/article37652301.ece

 

28. Bring in three-rate GST structure, says study by Finance Ministry-backed think-tank

https://www.thehindu.com/business/Economy/bring-in-three-rate-gst-structure-says-finance-ministry-think-tank-study/article37692367.ece

 

3. Banking and Monetary Policy

 

29. PMJDY adds 1.3 crore beneficiaries in H1 of FY22

https://www.thehindubusinessline.com/money-and-banking/pmjdy-adds-13-crore-beneficiaries-in-h1-of-fy22/article37613062.ece

 

30. Govt moving to ban all private cryptos

https://www.thehindubusinessline.com/economy/policy/govt-moving-to-ban-all-private-cryptos/article37652185.ece

 

31. RBI group's suggestions will boost digital lending, say experts

https://www.business-standard.com/article/economy-policy/rbi-group-s-suggestions-will-boost-digital-lending-say-experts-121111901270_1.html

 

32. RBI must keep rates low as long as needed to sustain growth: Assocham

https://www.business-standard.com/article/economy-policy/rbi-must-keep-rates-low-as-long-as-needed-to-sustain-growth-assocham-121112400821_1.html

 

33. Most existing cryptos will perish, Raghuram Rajan says

https://economictimes.indiatimes.com/news/economy/policy/most-existing-cryptos-will-perish-raghuram-rajan-says/articleshow/87883758.cms

 

34. Up to 180 bps higher NPA likely for NBFCs, says ICRA

https://economictimes.indiatimes.com/news/economy/indicators/up-to-180-bps-higher-npa-likely-for-nbfcs-says-icra/articleshow/87908575.cms

 

35. Demonetisation has given rise to a state unanswerable to citizens

https://scroll.in/article/1011346/demonetisation-has-given-rise-to-a-state-unanswerable-to-citizens

 

36. Will bring back all money taken away from banks, says Nirmala Sitharaman

https://theprint.in/economy/will-bring-back-all-money-taken-away-from-banks-says-nirmala-sitharaman/770567/

 

37. 'Not a ban': Centre regulating cryptocurrency to check role in 'hawala', terror funding, say sources

https://www.firstpost.com/india/centre-regulating-cryptocurrency-to-check-role-in-hawala-terror-funding-say-sources-10160121.html

 

38. Niti Aayog bats for full-stack digital banks

https://www.thehindu.com/business/Economy/niti-aayog-bats-for-full-stack-digital-banks/article37670755.ece

 

4. External Sector

 

39. Exports of agri, processed food up 15% to $11.65 b in April-Oct 2021

https://www.thehindubusinessline.com/economy/exports-of-agricultural-processed-food-rises-147-to-1165-bn-in-april-oct-2021/article37575658.ece

 

40. Global Value Chains and trade statistics: Why do they matter?

https://www.business-standard.com/article/opinion/global-value-chains-and-trade-statistics-121111901150_1.html

 

41. India's exports rise 18.8% to $20 billion so far in November this year

https://www.business-standard.com/article/economy-policy/india-s-exports-rise-18-8-to-20-billion-so-far-in-november-this-year-121112201088_1.html

 

42. India, US set to revive Trade Policy Forum after four years

https://www.business-standard.com/article/economy-policy/india-us-revive-trade-policy-forum-after-four-years-121112201244_1.html

 

43. India has set ambitious target of $400 bn exports for 2021-22: Shringla

https://www.business-standard.com/article/economy-policy/india-has-set-ambitious-target-of-400-bn-exports-for-2021-22-shringla-121112500109_1.html

 

44. India, ADB sign USD 300 bn loan to improve access to healthcare in urban areas of 13 states

https://economictimes.indiatimes.com/news/economy/finance/india-adb-sign-usd-300-bn-loan-to-improve-access-to-healthcare-in-urban-areas-of-13-states/articleshow/87893095.cms

 

5. Agriculture and Rural Economy

 

45. ‘Unable to convince farmer brothers’, PM drops farm laws

https://www.thehindubusinessline.com/economy/agri-business/we-have-decided-to-repeal-three-farm-laws-pm/article37573206.ece

 

46. Mixed reactions from agri, allied sectors

https://www.thehindubusinessline.com/economy/agri-business/farm-laws-repeal-evokes-mixed-reaction-from-agri-allied-sectors/article37586214.ece

 

47. Farm Bills’ repeal and the way ahead

https://www.thehindubusinessline.com/opinion/farm-bills-repeal-and-the-way-ahead/article37584847.ece

 

48. Make MSP mechanism WTO compatible, says India Exim Bank working paper

https://www.thehindubusinessline.com/economy/agri-business/make-msp-mechanism-wto-compatible-says-india-exim-bank-working-paper/article37585462.ece

 

49. Checking recycled PDS grains can save Centre ₹24,000 cr

https://www.thehindubusinessline.com/economy/checking-recycled-pds-grains-can-save-centre-24000-cr/article37614594.ece

 

50. For the right public-private mix in farming

https://www.thehindubusinessline.com/opinion/for-the-right-public-private-mix-in-farming/article37612609.ece

 

51. To insure or to assure the farmer?

https://www.thehindubusinessline.com/opinion/to-insure-or-to-assure-the-indian-farmer/article37631249.ece

 

52. What’s next for the farming community?

https://www.thehindubusinessline.com/economy/agri-business/whats-next-for-the-farming-community/article37652375.ece

 

53. Land acquisition Bill & farm laws: Divergent ends of Centre's two reforms

https://www.business-standard.com/article/economy-policy/land-acquisition-bill-farm-laws-divergent-ends-of-centre-s-two-reforms-121111901267_1.html

 

54. Repeal of farm laws: A setback or a step in the right direction?

https://www.business-standard.com/podcast/economy-policy/repeal-of-farm-laws-a-setback-or-a-step-in-the-right-direction-121112200091_1.html

 

55. No clarity on paddy procurement by Centre, says Telangana govt

https://www.business-standard.com/article/economy-policy/no-clarity-on-paddy-procurement-by-centre-says-telangana-govt-121112400234_1.html

 

56. Tomato prices will continue to rise for next 45-50 days, says CRISIL Research

https://economictimes.indiatimes.com/news/economy/agriculture/tomato-prices-will-continue-to-rise-for-next-45-50-days-says-crisil-research/articleshow/87915193.cms

 

57. Financing sustainable agriculture key to address climate change vulnerability: Report

https://economictimes.indiatimes.com/news/economy/agriculture/financing-sustainable-agriculture-key-to-address-climate-change-vulnerability-report/articleshow/87871508.cms

 

58. Why legal guarantee for MSP — the other demand of protesting farmers — is a lose-lose proposal

https://theprint.in/economy/why-legal-guarantee-for-msp-the-other-demand-of-protesting-farmers-is-a-lose-lose-proposal/770770/

 

6. Industry, Manufacturing, Services and Technology

 

59. Market falls steepest in 7 months

https://www.thehindubusinessline.com/markets/stock-markets/market-crashes-to-7-month-low/article37632075.ece

 

60. Phasing coal makes economic sense, too

https://www.thehindubusinessline.com/opinion/phasing-coal-makes-economic-sense-too/article37668927.ece

 

61. Affordable housing segment offers Rs 45-trn investment opportunity: Report

https://www.business-standard.com/article/economy-policy/affordable-housing-segment-offers-rs-45-trn-investment-opportunity-report-121112200809_1.html

 

62. Real Estate industry to grow at over 75% YoY for next 3 yrs: Report

https://www.business-standard.com/article/economy-policy/real-estate-industry-to-grow-at-over-75-yoy-for-next-3-yrs-report-121112300678_1.html

 

63. Cheap mobile plans may soon become a thing of the past in India

https://scroll.in/article/1011309/cheap-mobile-plans-may-soon-become-a-thing-of-the-past-in-india

 

64. India’s auto sector just had its worst festive season in a decade, partly because of chip shortage

https://scroll.in/article/1011136/indias-auto-sector-just-had-its-worst-festive-season-in-a-decade-partly-because-of-chip-shortage

 

65. Services, manufacturing & exports keep India on course to post world’s fastest growth

https://theprint.in/economy/services-manufacturing-exports-keep-india-on-course-to-post-worlds-fastest-growth/770917/

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

66. Opinion | How Softies Seized the Fed

https://www.nytimes.com/2021/11/23/opinion/fed-powell-unemployment.html

 

67. Opinion | Spending as if the Future Matters

https://www.nytimes.com/2021/11/22/opinion/biden-infrastructure-spending.html

 

68. Inflation Headlines Don't Tell the Whole Story - The New York Times

https://www.nytimes.com/2021/11/19/opinion/inflation-economy-supply-chain.html

 

8. Other Articles/ Columns

 

• Ideas for India

 

69. Nobel Prize in Economics 2021: Clarity, transparency, and credibility in empirical research

https://www.ideasforindia.in/topics/miscellany/nobel-prize-in-economics-2021-clarity-transparency-and-credibility-in-empirical-research.html

 

70. Inter-gender and intra-gender gaps in land ownership in India

https://www.ideasforindia.in/topics/social-identity/inter-gender-and-intra-gender-gaps-in-land-ownership-in-india.html

 

71. Empowering women through participatory theatre

https://www.ideasforindia.in/topics/social-identity/empowering-women-through-participatory-theatre.html

 

• EPW

 

Commentary

 

72. The Land Pooling Scheme in Andhra Pradesh

A Critical Appraisal

https://www.epw.in/journal/2021/47/commentary/land-pooling-scheme-andhra-pradesh.html

 

73. Faith-based Financial Exclusion

Where Does Jammu and Kashmir Stand?

https://www.epw.in/journal/2021/47/commentary/faith-based-financial-exclusion.html

 

74. Climate Change

Raag Bhairavi at Glasgow COP26

https://www.epw.in/journal/2021/47/commentary/climate-change.html

 

75. Technological Federalism

A Building Block to Constitutionalise the Digital Sphere

https://www.epw.in/journal/2021/47/commentary/technological-federalism.html

 

76. Forecasting the Post-COVID-19 Recovery Pattern

A Note on Methodology

https://www.epw.in/journal/2021/47/commentary/forecasting-post-covid-19-recovery-pattern.html

 

            Special Articles

 

77. Maternity Entitlements

Women’s Rights Derailed

https://www.epw.in/journal/2021/47/special-articles/maternity-entitlements.html

 

78. The Impact of COVID-19 on the Stock Market and Corporate Firms

https://www.epw.in/journal/2021/47/special-articles/impact-covid-19-stock-market-and-corporate-firms.html

 

79. Labour Force and Employment Growth in India

Evidence from the EUS (2011–12) and PLFS (I and II)

https://www.epw.in/journal/2021/47/special-articles/labour-force-and-employment-growth-india.html

 

• Project Syndicate

 

80. The Inflation Conundrum

https://www.project-syndicate.org/commentary/rising-inflation-poses-different-policy-challenges-for-countries-by-kaushik-basu-2021-11?a_la=english&a_d=619fbb72c13dcd614872daa1&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=rising-inflation-poses-different-policy-challenges-for-countries-by-kaushik-basu-2021-11&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

81. The Keys to Inclusive Growth

https://www.project-syndicate.org/commentary/inclusive-growth-competition-policy-and-flexicurity-by-philippe-aghion-and-aymann-mhammedi-2021-11?a_la=english&a_d=619f61e6c13dcd61484bb91d&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=inclusive-growth-competition-policy-and-flexicurity-by-philippe-aghion-and-aymann-mhammedi-2021-11&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

82. Monetary and Inflationary Traps

https://www.project-syndicate.org/commentary/fed-inflation-policy-framework-has-become-a-trap-by-raghuram-rajan-2021-11?a_la=english&a_d=619d04de135c61982d67f0a0&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=fed-inflation-policy-framework-has-become-a-trap-by-raghuram-rajan-2021-11&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

83. The bright new age of venture capital

https://www.economist.com/finance-and-economics/2021/11/23/the-bright-new-age-of-venture-capital/21806438

 

84. American inflation: global phenomenon or homegrown headache?

https://www.economist.com/finance-and-economics/american-inflation-global-phenomenon-or-homegrown-headache/21806433

 

85. Measuring the universe’s most important sector

https://www.economist.com/finance-and-economics/2021/11/27/measuring-the-universes-most-important-sector

 

9. News on Kerala

 

86. Kerala FM fires salvo at Centre over fuel surcharge, says GoM meet Nov 27

https://www.business-standard.com/article/economy-policy/kerala-fm-fires-salvo-at-centre-over-fuel-surcharge-says-gom-meet-nov-27-121112301021_1.html

 

87. RERA will ensure legal protection in real estate deals: Kurian

https://www.thehindu.com/news/national/kerala/rera-will-ensure-legal-protection-in-real-estate-deals-kurian/article37587939.ece

 

88. Nair Service Society objects to methodology of socio-economic survey

https://www.thehindu.com/news/national/kerala/nair-service-society-objects-to-methodology-of-socio-economic-survey/article37606567.ece

 

89. KIIFB: debt-financed expenditure offering a lifeline during a difficult financial period

https://www.thehindu.com/news/national/kerala/kiifb-debt-financed-expenditure-offering-a-lifeline-during-a-difficult-financial-period/article37619922.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