Institutional Collaborations  | News  |  Careers

18 December - 24 December, 2021

Home » Publication » Weekly Updates on Indian Economy (Earlier Versions) »  18 December - 24 December, 2021

Weekly Updates on the Indian Economy

(18/12/2021 to 24/12/2021)

  1. National Accounts and State of the Economy

 

  1. Reforms, growth, equity the only way to sustain high growth rate: C Rangarajan

https://www.thehindubusinessline.com/economy/reforms-growth-equity-the-only-way-to-sustain-high-growth-rate-c-rangarajan/article37999734.ece

 

  1. We need to bring in a culture of innovation: FICCI President

https://www.thehindubusinessline.com/economy/we-need-to-bring-in-a-culture-of-innovation-ficci-president/article38006706.ece

 

  1. AMEP index dips in Nov as economic recovery loses steam

https://www.thehindubusinessline.com/economy/amep-index-dips-in-nov-as-economic-recovery-loses-steam/article38020973.ece

 

  1. Few takers for Subramanian's theory that GDP collapsed before Covid

https://www.business-standard.com/article/economy-policy/few-takers-for-subramanian-s-theory-that-gdp-collapsed-before-covid-121122400041_1.html

 

  1. India may be heading towards stagflation: Amit Mitra

https://economictimes.indiatimes.com/news/economy/policy/india-may-be-heading-towards-stagflation-amit-mitra/articleshow/88396472.cms

 

  1. India's curb on futures trade threatens food supply chain

https://economictimes.indiatimes.com/news/economy/policy/indias-curb-on-futures-trade-threatens-food-supply-chain/articleshow/88429865.cms

 

  1. Outbreak of pandemic led to an increase in number of households with no earning members: CMIE

https://economictimes.indiatimes.com/news/economy/indicators/outbreak-of-pandemic-led-to-an-increase-in-number-of-households-with-no-earning-members-cmie/articleshow/88451284.cms

 

  1. BofA expects 8.2% GDP growth next fiscal with more downside risks

https://economictimes.indiatimes.com/news/economy/indicators/bofa-expects-8-2-gdp-growth-next-fiscal-with-more-downside-risks/articleshow/88474138.cms

 

  1. NITI Aayog enters into agreement with UN WFP to diversify food basket in programmes

https://economictimes.indiatimes.com/news/economy/agriculture/niti-aayog-enters-into-agreement-with-un-wfp-to-diversify-food-basket-in-programmes/articleshow/88409584.cms

 

  1. National Retail Trade Policy: How Centre seeks to change retail trading in the country

https://www.firstpost.com/business/national-retail-trade-policy-how-centre-seeks-to-change-retail-trading-in-the-country-10230621.html

 

  1. As Uttar Pradesh Heads to Polls, How Does the Yogi Govt's Economic Performance Hold Up?

https://thewire.in/economy/uttar-pradesh-election-adityanath-economic-performance

 

  1. India’s Stock Market Swings Give Millions of New Retail Investors a Taste of the Storm 

https://thewire.in/economy/indias-stock-market-swings-give-millions-of-new-retail-investors-a-taste-of-the-storm

 

  1. The Good, The Bad and The Ugly Within India’s Public Sector Companies

https://thewire.in/economy/the-good-bad-and-ugly-within-indias-cpses

 

  1. Need to get rid of description that ‘farmer means poor’: Union Minister Kailash Choudhary

https://theprint.in/economy/need-to-get-rid-of-description-that-farmer-means-poor-union-minister-kailash-choudhary/786502/

 

  1. Finance

 

  1. CPSEs’ accumulated losses at ₹1.75-lakh cr: CAG

https://www.thehindubusinessline.com/economy/cpses-accumulated-losses-at-175-lakh-cr-cag/article38006866.ece

 

  1. CAG paints grim picture of Railway’s finances

https://www.thehindubusinessline.com/economy/cag-paints-grim-picture-of-railways-finances/article38007069.ece

 

  1. Centre not likely to go for any off-Budget borrowing this year

https://www.business-standard.com/article/economy-policy/centre-not-likely-to-go-for-any-off-budget-borrowing-this-year-121122400051_1.html

 

  1. FM Sitharaman moves Supplementary Demands in Rajya Sabha; seeks approval for Rs 3.73 lakh cr extra spending

https://economictimes.indiatimes.com/news/economy/finance/fm-sitharaman-moves-supplementary-demands-in-rajya-sabha-seeks-approval-for-rs-3-73-lakh-cr-extra-spending/articleshow/88416615.cms

 

  1. Cost of state debt soars past 7%-mark

https://economictimes.indiatimes.com/news/economy/finance/cost-of-state-debt-soars-past-7-mark/articleshow/88417656.cms

 

  1. Modi govt expects better finances in second half of FY22 thanks to momentum of recovery

https://theprint.in/economy/modi-govt-expects-better-fiscal-results-in-second-half-of-fy22-thanks-to-momentum-of-recovery/785565/

 

Taxation

 

  1. States’ VAT collections from fuels flat, but Centre rakes in 36% more in FY21

https://www.thehindubusinessline.com/economy/states-vat-collections-from-fuels-flat-but-centre-rakes-in-36-more-in-fy21/article37999749.ece

 

  1. Reduce GST on handlooms, senior citizens’ health insurance premium: MPs to FM

https://www.thehindubusinessline.com/economy/reduce-gst-on-handlooms-senior-citizens-health-insurance-premium-mps-to-fm/article38023591.ece

 

  1. Aadhaar mandatory for filing GST refund claim from January 1

https://www.thehindubusinessline.com/economy/aadhaar-mandatory-for-filing-gst-refund-claim-from-jan-1/article38012584.ece

 

  1. Govt working to bring changes in GST Act, public platforms: Jayant Sinha

https://www.business-standard.com/article/economy-policy/govt-working-to-bring-changes-in-gst-act-public-platforms-jayant-sinha-121122300763_1.html

 

  1. Withdraw plan to hike GST rate on textile, apparel items: Telangana Minister to Centre

https://economictimes.indiatimes.com/news/economy/policy/withdraw-plan-to-hike-gst-rate-on-textile-apparel-items-telangana-minister-to-centre/articleshow/88377240.cms

 

  1. Taxmen can directly start recovery for mismatch in sales in GSTR-1, 3B

https://economictimes.indiatimes.com/news/economy/policy/taxmen-can-directly-start-recovery-for-mismatch-in-sales-in-gstr-1-3b/articleshow/88437068.cms

 

  1. CPI could rise 100-125 bps if GST rates raised as suggested by the finance commission: Report

https://economictimes.indiatimes.com/news/economy/indicators/cpi-could-rise-150-bps-if-gst-council-raises-rates-suggested-by-the-finance-commission-report/articleshow/88434653.cms

 

  1. Many equipment used for carrying Covid shots to attract 18% GST

https://economictimes.indiatimes.com/news/economy/finance/many-equipment-used-for-carrying-covid-shots-to-attract-18-gst/articleshow/88350694.cms

 

  1. Input tax credit should be available for construction of plant and machinery, says ruling

https://economictimes.indiatimes.com/news/economy/finance/input-tax-credit-should-be-available-for-construction-of-plant-and-machinery-says-ruling/articleshow/88443335.cms

 

  1. From scrapping retro tax law to record GST mop-up, 2021 a year of many firsts for revenue department

https://economictimes.indiatimes.com/news/economy/finance/from-scrapping-retro-tax-law-to-record-gst-mop-up-2021-a-year-of-many-firsts-for-revenue-department/articleshow/88446061.cms

 

  1. Banking and Monetary Policy

 

  1. ‘Policy support key to sustain recovery’

https://www.thehindubusinessline.com/money-and-banking/policy-support-key-to-sustain-recovery/article38015474.ece

 

  1. Financial Inclusion has helped monetary policy transmission in India: RBI DG Michael Patra

https://economictimes.indiatimes.com/news/economy/policy/financial-inclusion-has-helped-monetary-policy-transmission-in-india-rbi-dg-michael-patra/articleshow/88479464.cms

 

  1. India's monetary policy financially inclusive by design: RBI Deputy Governor Patra

https://economictimes.indiatimes.com/news/economy/finance/indias-monetary-policy-financially-inclusive-by-design-rbi-deputy-governor-patra/articleshow/88470818.cms

 

  1. External Sector

 

  1. India's crude imports hit 10-month peak as refiners bank on strong demand

https://www.business-standard.com/article/economy-policy/india-s-crude-imports-hit-10-month-peak-as-refiners-bank-on-strong-demand-121122301400_1.html

 

  1. Exports may be slow down in FY23 due to Covid, supply issues: Trade group

https://www.business-standard.com/article/economy-policy/exports-may-be-slow-down-in-fy23-due-to-covid-supply-issues-trade-group-121122301087_1.html

 

  1. FIEO aims at $460-475 billion exports next fiscal year amid Covid woes

https://www.business-standard.com/article/economy-policy/fieo-aims-at-460-475-billion-exports-next-fiscal-year-amid-covid-woes-121122300619_1.html

 

  1. With PLI schemes & global demand recovery, India exports likely to fly high in New Year

https://economictimes.indiatimes.com/news/economy/foreign-trade/with-pli-schemes-global-demand-recovery-india-exports-likely-to-fly-high-in-new-year/articleshow/88369135.cms

 

  1. Labour-intensive exports may gain as rupee hits 20-month low

https://economictimes.indiatimes.com/news/economy/foreign-trade/labour-intensive-exports-may-gain-as-rupee-hits-20-month-low/articleshow/88378342.cms

 

  1. India, France push blue economy & investment partnership

https://economictimes.indiatimes.com/news/economy/foreign-trade/india-france-push-blue-economy-investment-partnership/articleshow/88412378.cms

 

  1. FY23 exports growth may slip, goods shipments seen at $460-475 b: FIEO

https://economictimes.indiatimes.com/news/economy/foreign-trade/fy23-exports-growth-may-slip-goods-shipments-seen-at-460-475-b-fieo/articleshow/88461573.cms

 

  1. Commerce Ministry for imposing anti-dumping duty on a chemical from four nations

https://economictimes.indiatimes.com/news/economy/foreign-trade/commerce-ministry-for-imposing-anti-dumping-duty-on-a-chemical-from-four-nations/articleshow/88474556.cms

 

  1. Indian engineering exports to China doubles in November 2021

https://economictimes.indiatimes.com/news/economy/foreign-trade/indian-engineering-exports-to-china-doubles-in-november-2021/articleshow/88476233.cms

 

  1. Agriculture and Rural Economy

 

  1. India cuts import tax on refined palm oil to 12.5% to calm prices

https://www.thehindubusinessline.com/economy/india-cuts-import-tax-on-refined-palm-oil-to-125-to-calm-prices/article38002135.ece

 

  1. How agritech startups can maximise productivity, efficiency

https://www.thehindubusinessline.com/economy/agri-business/how-agritech-startups-can-maximise-productivity-efficiency/article38002487.ece

 

  1.  Why farmers are wary of SEBI’s move suspend agri futures trading

https://www.thehindubusinessline.com/economy/agri-business/why-farmers-are-wary-of-sebis-move/article38012450.ece

 

  1. Spices output up 60% in 2020-21

https://www.thehindubusinessline.com/economy/agri-business/spices-output-up-60-in-2020-21/article38012473.ece

 

  1. Tomato prices drop on higher arrivals

https://www.thehindubusinessline.com/economy/agri-business/tomato-prices-drop-on-higher-arrivals/article38013558.ece

 

  1. Agri-based units’ hiring up by 8% during Jan-Nov this year

https://www.thehindubusinessline.com/economy/agri-business/agri-based-units-hiring-up-by-8-during-jan-nov-this-year/article38019237.ece

 

  1. Coffee exports may hit record 4 lakh tonnes in 2021

https://www.thehindubusinessline.com/economy/agri-business/coffee-exports-may-hit-record-4-lakh-tonnes-in-2021/article38022704.ece

 

  1. Govt to develop national database on cooperatives: Cooperation Secy D K Singh

https://economictimes.indiatimes.com/news/economy/policy/govt-to-develop-national-database-on-cooperatives-cooperation-secy-d-k-singh/articleshow/88451110.cms

 

  1. Profitability of sugar, fertiliser, dairy sectors to remain stable in FY22: ICRA

https://economictimes.indiatimes.com/news/economy/indicators/profitability-of-sugar-fertiliser-dairy-sectors-to-remain-stable-in-fy22-icra/articleshow/88431011.cms

 

  1. India can generate USD 813 bn in revenues from agri, food sector by 2030: Report

https://economictimes.indiatimes.com/news/economy/agriculture/india-can-generate-usd-813-bn-in-revenues-from-agri-food-sector-by-2030-report/articleshow/88459530.cms

 

  1. India’s Curb on Futures Trade Threatens Food Supply Chain

https://thewire.in/business/indias-curb-on-futures-trade-threatens-food-supply-chain

 

  1. Industry, Manufacturing, Services and Technology

 

  1. Retail sector clocks 9% growth in Nov compared to pre-Covid levels: RAI

https://www.thehindubusinessline.com/economy/retail-sector-clocks-9-growth-in-nov-compared-to-pre-covid-levels-rai/article37995295.ece

 

  1. TV ad volumes in November up 13% compared to pre-pandemic levels, says BARC India

https://www.thehindubusinessline.com/news/tv-ad-volumes-in-november-up-13-compared-to-pre-pandemic-levels-says-barc-india/article37999312.ece

 

  1. $150-m ADB loan to build houses for TN’s urban poor

https://www.thehindubusinessline.com/news/150-m-adb-loan-to-build-houses-for-tns-urban-poor/article37999340.ece

 

  1. Auto component sector turnover up 65% at ₹1.96-lakh cr in April-Sept

https://www.thehindubusinessline.com/economy/auto-component-sector-sees-65-growth-in-h1/article38003558.ece

 

  1. Cargo traffic at ports declines 5% y-o-y in FY21

https://www.thehindubusinessline.com/economy/logistics/cargo-traffic-at-ports-declines-5-y-o-y-in-fy21/article38010001.ece

 

  1. Centre approves construction of 1.07 lakh houses in 5 states under PMAY(U)

https://economictimes.indiatimes.com/news/economy/policy/centre-approves-construction-of-1-07-lakh-houses-in-5-states-under-pmayu/articleshow/88474978.cms

 

  1. Ganga Expressway will improve connectivity, boost economic development across UP: PM Modi

https://economictimes.indiatimes.com/news/economy/infrastructure/ganga-expressway-will-improve-connectivity-boost-economic-development-across-up-pm-modi/articleshow/88353975.cms

 

  1. NHAI toll revenue will jump to Rs 1.40 lakh crore in three years, says Union Minister Gadkari

https://economictimes.indiatimes.com/news/economy/infrastructure/nhai-toll-revenue-will-jump-to-rs-1-40-lakh-crore-in-three-years-says-union-minister-gadkari/articleshow/88411160.cms

 

  1. Columns by Paul Krugman/ Joseph Stiglitz

 

  1. Opinion | What We Lose if We Don’t Build Back Better

https://www.nytimes.com/2021/12/20/opinion/manchin-build-back-better.html

 

  1. What If the Fed Is Wrong About Inflation? - The New York Times

https://www.nytimes.com/2021/12/17/opinion/inflation-federal-reserve-us-economy.html

 

  1. Other Articles/ Columns

 

  • Ideas for India

 

  1. Crime in the village: Does road infrastructure make a difference?

https://www.ideasforindia.in/topics/poverty-inequality/crime-in-the-village-does-road-infrastructure-make-a-difference.html

 

  • EPW

 

Commentary

 

  1. The SRS Data on Early Childhood Mortality in India

https://www.epw.in/journal/2021/52/commentary/srs-data-early-childhood-mortality-india.html

 

  1. The Need for Increased Policy Support

Reviving the Lending Appetite of Banks

https://www.epw.in/journal/2021/52/commentary/reviving-lending-appetite-banks.html

 

  1. PLFS vs CMIE

How Reliable Is Labour Market Data in India?

https://www.epw.in/journal/2021/52/commentary/how-reliable-labour-market-data-india.html

 

  • Project Syndicate

 

  1. East Asia's Squid Game Economies

https://www.project-syndicate.org/commentary/east-asia-squid-game-economies-inequality-by-keun-lee-2021-12?a_la=english&a_d=61c09a08402bad64ca9f8ca7&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=east-asia-squid-game-economies-inequality-by-keun-lee-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

  1. Fixing Global Trade Finance

https://www.project-syndicate.org/commentary/fixing-global-trade-finance-digitally-by-john-w-h-denton-et-al-2021-12?a_la=english&a_d=61c1b523e2270627b37f1e10&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=fixing-global-trade-finance-digitally-by-john-w-h-denton-et-al-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

  1. Does Japan Vindicate Modern Monetary Theory?

https://www.project-syndicate.org/commentary/japan-mmt-experiment-will-fail-by-takatoshi-ito-2021-12?a_la=english&a_d=61c31d89002c95770d9c065d&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=japan-mmt-experiment-will-fail-by-takatoshi-ito-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

  1. How Erdonomics Sank Turkey

https://www.project-syndicate.org/commentary/turkey-economic-crisis-erdonomics-by-anne-o-krueger-2021-12?a_la=english&a_d=61c33801002c95770def2e43&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=turkey-economic-crisis-erdonomics-by-anne-o-krueger-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

  1. Taxing Economic Credibility

https://www.project-syndicate.org/commentary/credibility-problem-in-us-economic-policy-debates-by-michael-boskin-2021-12?a_la=english&a_d=61c469e20179e843905eb940&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=credibility-problem-in-us-economic-policy-debates-by-michael-boskin-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

  1. The Ghost of Christmas Inflation

https://www.project-syndicate.org/commentary/us-fiscal-inflation-5-trillion-stimulus-by-john-h-cochrane-2021-12?a_la=english&a_d=61c488970179e84390c4c6a2&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=us-fiscal-inflation-5-trillion-stimulus-by-john-h-cochrane-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

  • The Economist

 

  1. Five financial surprises in 2021

https://www.economist.com/finance-and-economics/2021/12/22/five-financial-surprises-in-2021

 

  1. Has the pandemic shown inflation to be a fiscal phenomenon?

https://www.economist.com/finance-and-economics/2021/12/18/has-the-pandemic-shown-inflation-to-be-a-fiscal-phenomenon

 

  1. After a shocker in 2021, where might inflation go in 2022?

https://www.economist.com/finance-and-economics/2021/12/18/after-a-shocker-in-2021-where-might-inflation-go-in-2022

 

  1. News on Kerala

 

  1. NEP will nurture talent: Kovind

https://www.thehindu.com/news/national/kerala/nep-will-nurture-talent-kovind/article38005719.ece

 

  1. K-Rail project will spell doom for Kerala: Prashant Bhushan

https://www.thehindu.com/news/national/kerala/k-rail-project-will-spell-doom-for-kerala-prashant-bhushan/article38014746.ece

 

  1. Kerala Agriculture department seeks to overhaul implementation of projects in farm sector

https://www.thehindu.com/news/national/kerala/kerala-agriculture-department-seeks-to-overhaul-implementation-of-projects-in-farm-sector/article38029879.ece

 

  1. SilverLine against people’s interests, says KSSP

https://www.thehindu.com/news/national/kerala/silverline-against-peoples-interests-says-kssp/article38032413.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