Weekly Updates on the Indian Economy

(04/12/2021 to 10/12/2021)

1. National Accounts and State of the Economy

 

1. Naukri JobSpeak index records 26% growth in Nov

https://www.thehindubusinessline.com/economy/naukri-jobspeak-index-records-26-per-cent-growth-in-november-this-year/article37821982.ece

 

2. Will the nascent recovery continue?

https://www.thehindubusinessline.com/opinion/will-the-nascent-recovery-continue/article37828028.ece

 

3. Crude prices down but retail prices of fuels remain high

https://www.thehindubusinessline.com/economy/crude-prices-down-but-retail-prices-of-fuels-remain-high/article37857689.ece

 

4. The supply chain hurdle in India’s recovery

https://www.thehindubusinessline.com/opinion/the-supply-chain-hurdle-in-indias-recovery/article37872475.ece

 

5. Fitch cuts GDP forecast for FY22 to 8.4%

https://www.thehindubusinessline.com/economy/fitch-ratings-cuts-indias-gdp-forecast-for-fy22-to-84-rbi-retains-95/article37896161.ece

 

6. India faces 'extreme pain', aspirations dashed: economist Abhijit Banerjee

https://www.business-standard.com/article/economy-policy/india-faces-extreme-pain-aspirations-dashed-economist-abhijit-banerjee-121120500174_1.html

 

7. Poverty ratio 32.75% in rural areas against 8.81% in urban: NITI report

https://www.business-standard.com/article/economy-policy/poverty-ratio-32-75-in-rural-areas-against-8-81-in-urban-niti-report-121120500971_1.html

 

8. Economy shows strong signs of recovery, upswing in 19 of 22 eco indicators

https://www.business-standard.com/article/economy-policy/economy-shows-strong-signs-of-recovery-upswing-in-19-of-22-eco-indicators-121120601093_1.html

 

9. India 'poor and very unequal' with affluent elite: World Inequality Report

https://www.business-standard.com/article/economy-policy/india-poor-and-very-unequal-with-affluent-elite-world-inequality-report-121120700540_1.html

 

10. Reserve Bank retains GDP growth forecast for current fiscal year at 9.5%

https://www.business-standard.com/article/finance/reserve-bank-retains-gdp-growth-forecast-for-current-fiscal-year-at-9-5-121120800378_1.html

 

11. Recovering economy not immune to global spillovers: RBI Governor

https://www.business-standard.com/article/economy-policy/recovering-economy-not-immune-to-global-spillovers-rbi-governor-121120800645_1.html

 

12. Over 93% of villages in country have mobile broadband coverage: Chauhan

https://www.business-standard.com/article/pti-stories/over-93-pc-of-villages-in-country-have-mobile-broadband-coverage-chauhan-121120800970_1.html

 

13. ADB approves Rs 2,645-crore loan to improve urban services in India

https://www.business-standard.com/article/economy-policy/adb-approves-rs-2-645-crore-loan-to-improve-urban-services-in-india-121120900753_1.html

 

14. Gender pay gap deepens during Covid, women left behind on pay hike: Study

https://www.business-standard.com/article/economy-policy/gender-pay-gap-deepens-during-covid-women-left-behind-on-pay-hike-study-121120900832_1.html

 

15. India's economy likely to grow 10.5% in FY22, 9% in FY23: Credit Suisse

https://www.business-standard.com/article/economy-policy/india-s-economy-likely-to-grow-10-5-in-fy22-9-in-fy23-credit-suisse-121120901019_1.html

 

16. Collective progress to ensure sustainable inclusive recovery: FM Sitharaman

https://www.business-standard.com/article/economy-policy/collective-progress-to-ensure-sustainable-inclusive-recovery-fm-sitharaman-121120900781_1.html

 

17. To Best Utilise its Demographic Dividend, India Must Aim For Equitable Growth

https://thewire.in/economy/to-best-utilise-its-demographic-dividend-india-must-aim-for-equitable-growth

 

18. Indian economy fastest in world to come out of Covid pandemic impact: Amit Shah

https://economictimes.indiatimes.com/news/economy/policy/indian-economy-fastest-in-world-to-come-out-of-covid-pandemic-impact-amit-shah/articleshow/88091799.cms

 

19. Supply side measures to help contain inflation

https://economictimes.indiatimes.com/news/economy/policy/supply-side-measures-to-help-contain-inflation/articleshow/88168739.cms

 

20. Indian economy shows strong signs of recovery, upswing in 19 of 22 eco indicators

https://economictimes.indiatimes.com/news/economy/indicators/indian-economy-shows-strong-signs-of-recovery-upswing-in-19-of-22-eco-indicators/articleshow/88127190.cms

 

21. Retail inflation expected to ease to around 5% in next fiscal: RBI

https://economictimes.indiatimes.com/news/economy/indicators/retail-inflation-expected-to-be-around-5-3-in-current-fiscal-rbi/articleshow/88159815.cms

 

22. Indian households expect inflation to be in double digits even one year ahead: RBI survey

https://economictimes.indiatimes.com/news/economy/indicators/indian-households-expect-inflation-to-be-in-double-digits-even-one-year-ahead-rbi-survey/articleshow/88170801.cms

 

23. Economy likely to grow 9 per cent next fiscal: Credit Suisse

https://economictimes.indiatimes.com/news/economy/indicators/economy-likely-to-grow-9-per-cent-next-fiscal-credit-suisse/articleshow/88191341.cms

 

24. 7.29 lakh gig workers registered on e-shram portal

https://economictimes.indiatimes.com/news/economy/indicators/7-29-lakh-gig-workers-registered-on-e-shram-portal/articleshow/88192735.cms

 

25. The effect of law on the economy

https://www.thehindu.com/business/Economy/the-effect-of-law-on-the-economy/article37885065.ece

 

2. Public Finance

 

26. States’ capex more than doubles to ₹1.71-lakh crore as of Q2

https://www.thehindubusinessline.com/data-stories/deep-dive/capital-expenditure-of-states-more-than-doubles-to-171-lakh-crore-as-of-q2/article37852483.ece

 

27. States borrowing cost again on a song, hits 1-month high at 6.80%

https://www.business-standard.com/article/economy-policy/states-borrowing-cost-again-on-a-song-hits-1-month-high-at-6-80-121120701178_1.html

 

28. Union Budget should create enabling environment to sustain growth: CII

https://www.business-standard.com/article/economy-policy/union-budget-should-create-enabling-environment-to-sustain-growth-cii-121120800027_1.html

Taxation

 

29. Grey areas in GST law

https://www.thehindubusinessline.com/opinion/grey-areas-in-gst-law/article37886613.ece

 

3. Banking and Monetary Policy

 

30. RBI norms could increase NBFC NPAs by a third: Ind-Ra

https://www.thehindubusinessline.com/money-and-banking/nbfc-npas-could-increase-by-a-third-due-to-tightening-of-norms-ind-ra/article37819947.ece

 

31. Deposit growth in alternative fortnights a contrarian trend: SBI Ecowrap

https://www.thehindubusinessline.com/money-and-banking/deposit-growth-in-alternative-fortnights-a-contrarian-trend-sbi-ecowrap/article37818893.ece

 

32. Consolidation is good for the banking industry: SBI Chairman

https://www.thehindubusinessline.com/money-and-banking/consolidation-is-good-for-the-banking-industry-sbi-chairman/article37857497.ece

 

33. RBI likely to continue moving towards monetary policy normalisation

https://www.thehindubusinessline.com/money-and-banking/rbi-likely-to-continue-moving-towards-monetary-policy-normalisation/article37856033.ece

 

34. Digital lending is all set to get a boost

https://www.thehindubusinessline.com/opinion/digital-lending-is-all-set-to-get-a-boost/article37871953.ece

 

35. Omicron may impact investor interest in retail loan pools from NBFCs: ICRA

https://www.thehindubusinessline.com/money-and-banking/covid-omicron-threat-investors-may-turn-cautious-when-purchasing-retail-loan-pools-from-nbfcs-says-icra/article37865873.ece

 

36. RBI keeps key policy rates steady amid Omicron fears

https://www.thehindubusinessline.com/money-and-banking/rbi-monetary-policy-keeps-repo-rate-unchanged-at-4-per-cent/article37892532.ece

 

37. Monetary policy ‘a positive move’ amid Omicron concerns: Bankers

https://www.thehindubusinessline.com/money-and-banking/monetary-policy-a-positive-move-amid-omicron-concerns-bankers/article37903124.ece

 

38. RBI focuses on sustaining economic revival

https://www.thehindubusinessline.com/opinion/rbi-focuses-on-sustaining-economic-revival/article37902376.ece

 

39. No plans to boost cryptocurrency sector in India, FinMin tells Lok Sabha

https://www.business-standard.com/article/economy-policy/no-plans-to-boost-cryptocurrency-sector-in-india-finmin-tells-lok-sabha-121120700046_1.html

 

40. Rs 2,000 notes now 1.75% of total banknotes in circulation: Govt

https://www.business-standard.com/article/economy-policy/rs-2-000-notes-now-1-75-of-total-banknotes-in-circulation-govt-121120700865_1.html

 

41. Govt inks 2 loan agreements of Rs 2,074 cr with Asian Development Bank

https://www.business-standard.com/article/economy-policy/govt-inks-2-loan-agreements-of-rs-2-074-cr-with-asian-development-bank-121120701134_1.html

 

42. MPC cuts GDP growth projection for Q3, Q4, cites supply crisis and Covid

https://www.business-standard.com/article/economy-policy/mpc-cuts-gdp-growth-projection-for-q3-q4-cites-supply-crisis-and-covid-121120800418_1.html

 

43. Low interest rate regime on home loans to continue: Realtors on RBI policy

https://www.business-standard.com/article/economy-policy/low-interest-rate-regime-on-home-loans-to-continue-realtors-on-rbi-policy-121120800595_1.html

 

44. Why a Larger Spotlight is Needed on Co-Lending Deals Between Banks and NBFCs

https://thewire.in/banking/why-a-larger-spotlight-is-needed-on-co-lending-deals-between-banks-and-nbfcs

 

45. Output gap may take many years to close, says RBI

https://economictimes.indiatimes.com/news/economy/policy/output-gap-may-take-many-years-to-close-says-rbi/articleshow/88170219.cms

 

46. CBDC needs credible data protection law; government shouldn't have access to personal spends, says D Subbarao

https://economictimes.indiatimes.com/news/economy/policy/cbdc-needs-credible-data-protection-law-government-shouldnt-have-access-to-personal-spends-says-d-subbarao/articleshow/88171728.cms

 

47. Number of ATMs in India at over 2.13 lakh, says Fin Min

https://economictimes.indiatimes.com/news/economy/finance/number-of-atms-in-india-at-over-2-13-lakh-says-fin-min/articleshow/88121904.cms

 

4. External Sector

 

48. Proposed India-Australia early harvest trade pact likely by year-end or early 2022

https://www.thehindubusinessline.com/economy/policy/proposed-india-australia-early-harvest-trade-pact-likely-by-year-end-or-early-2022/article37818514.ece

 

49. The way forward in US-India economic ties

https://www.thehindubusinessline.com/opinion/the-way-forward-in-us-india-economic-ties/article37856002.ece

 

50. India exports Rs 27,575 cr worth of marine products in Apr-Sept: Centre

https://www.business-standard.com/article/economy-policy/india-exports-rs-27-575-cr-worth-of-marine-products-in-apr-sept-centre-121120700904_1.html

 

51. What’s the hype about 2+2 talks India’s holding with US, Japan, Australia & now Russia

https://theprint.in/diplomacy/whats-the-hype-about-22-talks-indias-holding-with-us-japan-australia-now-russia/776928/

 

52. Exports rise 44.2% YoY, imports 45.3%

https://economictimes.indiatimes.com/news/economy/indicators/exports-rise-44-2-yoy-imports-45-3/articleshow/88176232.cms

 

53. India has 4th largest foreign exchange reserves in world: MoS Finance

https://economictimes.indiatimes.com/news/economy/finance/india-has-4th-largest-foreign-exchange-reserves-in-world-mos-finance/articleshow/88122063.cms

 

54. ‘Imports made up 86% of 2016-20 India gold supply’

https://www.thehindu.com/business/Economy/imports-made-up-86-of-2016-20-india-gold-supply/article37917284.ece

 

5. Agriculture and Rural Economy

 

55. Rabi sowing gains momentum

https://www.thehindubusinessline.com/economy/agri-business/rabi-sowing-gains-momentum/article37828095.ece

 

56. Edible oil imports likely to remain flat during oil year 2021-22: SEA

https://www.thehindubusinessline.com/markets/commodities/edible-oil-imports-likely-to-remain-flat-during-oil-year-2021-22/article37818185.ece

 

57. Why Maharashtra dairy farmers are demanding FRP

https://www.thehindubusinessline.com/economy/agri-business/why-farmers-are-demanding-a-fair-and-remunerative-price-for-milk/article37880914.ece

 

58. India aiming at $43 billion agricultural products' exports, says govt

https://www.business-standard.com/article/economy-policy/india-aiming-at-43-billion-agricultural-products-exports-says-govt-121120500836_1.html

       

59. Led by urea, fertiliser subsidies to soar 62% this fiscal: Report

https://www.business-standard.com/article/economy-policy/led-by-urea-fertiliser-subsidies-to-soar-62-this-fiscal-report-121120601010_1.html

 

60. Govt procures paddy worth Rs 64,000 cr at MSP in 2021-22 mkt year so far

https://www.business-standard.com/article/economy-policy/govt-procures-paddy-worth-rs-64-000-cr-at-msp-in-2021-22-mkt-year-so-far-121120900967_1.html

 

61. Govt order against blended ‘impostor’ can help reclaim glory of Indian tea, curb export dip

https://theprint.in/economy/govt-order-against-blended-impostor-can-help-reclaim-glory-of-indian-tea-curb-export-dip/776326/

 

62. States can distribute jowar, ragi via ration shops within 6-7 months after procurement

https://economictimes.indiatimes.com/news/economy/agriculture/states-can-distribute-jowar-ragi-via-ration-shops-within-6-7-months-after-procurement/articleshow/88191063.cms

 

63. Government procures paddy worth nearly Rs 64,000 crore at MSP in 2021-22 mkt year so far

https://economictimes.indiatimes.com/news/economy/agriculture/government-procures-paddy-worth-nearly-rs-64000-cr-at-msp-in-2021-22-mkt-year-so-far/articleshow/88190167.cms

 

64. APART comes up with competitive funding mechanism for agri sector in Assam

https://economictimes.indiatimes.com/news/economy/agriculture/apart-comes-up-with-competitive-funding-mechanism-for-agri-sector-in-assam/articleshow/88184147.cms

 

65. Modi's farm reform reversal to deter investment in India's agriculture

https://economictimes.indiatimes.com/news/economy/agriculture/modis-farm-reform-reversal-to-deter-investment-in-indias-agriculture/articleshow/88099530.cms

 

6. Industry, Manufacturing, Services and Technology

 

66. Despite a slight drop, Nov Services PMI expands at second fastest pace in 10 years

https://www.thehindubusinessline.com/economy/service-pmi-dropped-a-bit-still-expanded-at-second-fastest-pace-in-10-years/article37818751.ece

 

67. Jump in quick grocery delivery players is advantage major FMCG firms

https://www.thehindubusinessline.com/markets/commodities/stability-in-crude-to-augur-well-for-paint-cos-fmcg-may-continue-to-face-headwinds/article37868198.ece

 

68. PLI for textiles: Centre mulls flexible timelines

https://www.thehindubusinessline.com/economy/pli-for-textiles-centre-mulls-flexible-timelines/article37854876.ece

 

69. Aluminium prices may gain next year on demand, supply concerns

https://www.thehindubusinessline.com/markets/commodities/aluminium-prices-may-gain-next-year-on-demand-supply-concerns/article37879176.ece

 

70. Road to development, a reality check

https://www.thehindubusinessline.com/data-stories/data-focus/what-is-the-status-of-road-connectivity-in-rural-india/article37895682.ece

 

71. Services sector credit growth still slow despite Covid relaxations

https://www.business-standard.com/article/economy-policy/services-sector-credit-growth-still-slow-despite-covid-relaxations-121120600014_1.html

 

72. Revenue of road construction to grow by 15% in FY22: Crisil Ratings

https://www.business-standard.com/article/economy-policy/revenue-of-road-construction-to-grow-by-15-in-fy22-crisil-ratings-121120701492_1.html

 

73. Mobile industry vital for India to be $5 trn economy by 2025: K M Birla

https://www.business-standard.com/article/pti-stories/mobile-industry-to-play-key-role-in-india-s-vision-for-usd-5-trn-economy-by-2025-birla-121120800361_1.html

 

74. Uttar Pradesh, Delhi, Karnataka leading states in EV sales: Govt

https://www.business-standard.com/article/economy-policy/uttar-pradesh-delhi-karnataka-leading-states-in-ev-sales-govt-121120800687_1.html

 

75. Fitch raises outlook for India auto loans to 'neutral' from 'deteriorating'

https://www.business-standard.com/article/economy-policy/fitch-raises-outlook-for-india-auto-loans-to-neutral-from-deteriorating-121120901043_1.html

 

76. India's real estate sector expected to see healthy demand in 2022: Report

https://www.business-standard.com/article/economy-policy/india-s-real-estate-sector-expected-to-see-healthy-demand-in-2022-report-121120900740_1.html

 

77. Housing prices may rise 5% during 2022 on improved demand: Report

https://www.business-standard.com/article/economy-policy/housing-prices-may-rise-5-during-2022-on-improved-demand-report-121120900765_1.html

 

78. India's software market revenues to cross $8.2 bn by 2021-end: IDC

https://www.business-standard.com/article/economy-policy/india-s-software-market-revenues-to-cross-8-2-bn-by-2021-end-idc-121120901201_1.html

 

79. MoUs signed in Tamil Nadu to serve the micro, small and medium industries

https://economictimes.indiatimes.com/news/economy/policy/mous-signed-in-tamil-nadu-to-serve-the-micro-small-and-medium-industries/articleshow/88172239.cms

 

80. 144 central infra projects reported delays in 2021-22; total cost overrun at Rs 14,960 cr

https://economictimes.indiatimes.com/news/economy/infrastructure/144-central-infra-projects-reported-delays-in-2021-22-total-cost-overrun-at-rs-14960-cr/articleshow/88123293.cms

 

81. 2,783 foreign companies shut India operations since 2014: Govt to Parliament

https://economictimes.indiatimes.com/news/economy/indicators/2783-foreign-companies-shut-india-operations-govt-to-parliament/articleshow/88170984.cms

 

82. Most of India's $1.1 trillion growth in next 11-year can come from yet to be invented digital businesses: Report

https://economictimes.indiatimes.com/news/economy/finance/most-of-indias-1-1-trillion-growth-in-next-11-year-can-come-from-yet-to-be-invented-digital-businesses-report/articleshow/88121139.cms

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

83. Brazil's Pioneering Solution to Vaccine Shortages

https://forbes.kz/blogs/blogsid_265084

 

84. Bob Dole, Donald Trump and the Art of Responsibility - The New York Times

https://www.nytimes.com/2021/12/07/opinion/bob-dole-donald-trump.html

 

85. Opinion | Wonking Out: Money Isn’t Everything

https://www.nytimes.com/2021/12/03/opinion/inflation-friedman-money-supply.html

 

8. Other Articles/ Columns

 

• Ideas for India

 

86. Urbanisation, gender, and social change: Role of the media in shaping women’s political preferences

https://www.ideasforindia.in/topics/social-identity/urbanisation-gender-and-social-change-role-of-the-media-in-shaping-women-s-political-preferences.html

 

87. Urbanisation, gender, and social change: Intra-marital hierarchies and perceptions about working mothers

https://www.ideasforindia.in/topics/social-identity/urbanisation-gender-and-social-change-intra-marital-hierarchies-and-perceptions-about-working-mothers.html

 

88. Urbanisation, gender, and social change: Women’s mobility in north India

https://www.ideasforindia.in/topics/social-identity/urbanisation-gender-and-social-change-women-s-mobility-in-north-india.html

 

89. Urbanisation, gender, and social change: Do working women enjoy more agency?

https://www.ideasforindia.in/topics/human-development/urbanisation-gender-and-social-change-do-working-women-enjoy-more-agency.html

 

90. Urbanisation, gender, and social change: Why is female labour force participation so low in India?

https://www.ideasforindia.in/topics/social-identity/urbanisation-gender-and-social-change-why-is-female-labour-force-participation-so-low-in-india.html

 

• EPW

 

Commentary

 

91. Foodstuffs Market Regulation

The Essential Commodities (Amendment) Act, 2020 and After

https://www.epw.in/journal/2021/49/commentary/foodstuffs-market-regulation.html

 

92. Gendered Impact of Endosulfan Poisoning

A Study from Palakkad District of Kerala

https://www.epw.in/journal/2021/49/commentary/gendered-impact-endosulfan-poisoning.html

 

93. Marketing and Procurement of Cotton

Farmers’ Experiences in Adilabad District of Telangana

https://www.epw.in/journal/2021/49/commentary/marketing-and-procurement-cotton.html

 

Perspective

 

94. Lockdown and Reopening the Economy

Spatial Dynamics of COVID-19 for India

https://www.epw.in/journal/2021/49/perspectives/lockdown-and-reopening-economy.html

 

Special Articles

 

95. Price Risk of Central Government Securities in India

An Analysis of Its Determinants

https://www.epw.in/journal/2021/49/special-articles/price-risk-central-government-securities-india.html

 

96. Reimagining India’s Social Science Research Policy

https://www.epw.in/journal/2021/49/special-articles/reimagining-indias-social-science-research-policy.html

 

97. Development Banks and the Changing Contour of Industrial Credit in India

https://www.epw.in/journal/2021/49/special-articles/development-banks-and-changing-contour-industrial.html

 

• Project Syndicate

 

98. The Great Labor Market Shakeup

https://www.project-syndicate.org/commentary/great-resignation-us-lack-of-support-for-workers-by-j-bradford-delong-2021-12?a_la=english&a_d=61ae2862ca0cf3d23c430c09&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=great-resignation-us-lack-of-support-for-workers-by-j-bradford-delong-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

99. Evidence for the “great resignation” is thin on the ground

https://www.economist.com/finance-and-economics/evidence-for-the-great-resignation-is-thin-on-the-ground/21806659

 

100. America is seeing both fast growth and high inflation

https://www.economist.com/finance-and-economics/america-is-seeing-both-fast-growth-and-high-inflation/21806687

 

101. Two key questions for the European Central Bank

https://www.economist.com/finance-and-economics/2021/12/11/two-key-questions-for-the-european-central-bank

 

102. In word and deed, China is easing economic policy

https://www.economist.com/finance-and-economics/2021/12/11/in-word-and-deed-china-is-easing-economic-policy

 

103. Why the demographic transition is speeding up

https://www.economist.com/finance-and-economics/2021/12/11/why-the-demographic-transition-is-speeding-up

 

104. The economics of a new China-Laos train line

https://www.economist.com/finance-and-economics/2021/12/11/the-economics-of-a-new-china-laos-train-line

 

9. News on Kerala

 

105. GST cuts do not always benefit consumers: Kerala govt study

https://www.thehindubusinessline.com/economy/gst-cuts-do-not-always-benefit-consumers-kerala-govt-study/article37873925.ece

 

106. Fuels to remain outside GST regime: CBIC

https://www.thehindu.com/news/national/kerala/fuels-to-remain-outside-gst-regime-cbic/article37898281.ece

 

107. Garment, textile dealers seek GST rollback

https://www.thehindu.com/news/national/kerala/garment-textile-dealers-seek-gst-rollback/article37890927.ece

 

108. CM seeks NITI Aayog help for key projects

https://www.thehindu.com/news/national/kerala/cm-seeks-niti-aayog-help-for-key-projects/article37845231.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