Weekly Updates on the Indian Economy

(22/01/2022 to 28/01/2022)

1. National Accounts and State of the Economy

 

1. ‘Economy has some bright spots, a number of dark stains’

https://www.thehindubusinessline.com/economy/indias-economy-has-some-bright-spots-a-number-of-very-dark-stains-raghuram-rajan/article64930691.ece

 

2. IMF cuts GDP growth estimate to 9% for FY22

https://www.thehindubusinessline.com/economy/imf-cuts-indias-gdp-growth-estimate-to-9-per-cent-in-fy-22/article64939417.ece

 

3. Nearly 90% Indians aged 10-16 lack math skills: Unesco report

https://www.thehindubusinessline.com/data-stories/data-focus/data-focus-almost-90-per-cent-of-indias-viii-graders-are-not-proficient-in-mathematics-unesco-report/article64940386.ece

 

4. In the pink of health: Healthcare sector expected to reach $372 bn in 2022

https://www.business-standard.com/article/economy-policy/in-the-pink-of-health-healthcare-sector-expected-to-reach-372-bn-in-2022-122012301011_1.html

 

5. India's fuel demand will continue to recover through this quarter: Fitch

https://www.business-standard.com/article/economy-policy/india-s-fuel-demand-will-continue-to-recover-through-this-quarter-fitch-122012400924_1.html

 

6. Economy has recovered 'handsomely' from Covid disruptions: Panagariya

https://www.business-standard.com/article/economy-policy/economy-has-recovered-handsomely-from-covid-disruptions-panagariya-122012500470_1.html

 

7. Job postings in Travel & Tourism sector sees 4% rise in Dec: Report

https://www.business-standard.com/article/economy-policy/job-postings-in-travel-tourism-sector-sees-4-pc-rise-in-dec-report-122012500619_1.html

 

8. India's households wrestle with inflation as incomes dip

https://www.business-standard.com/article/economy-policy/india-s-households-wrestle-with-inflation-as-incomes-dip-122012500928_1.html

 

9. India could spend 11% of GDP in reaching net zero emissions by 2050: Report

https://www.business-standard.com/article/economy-policy/india-could-spend-11-of-gdp-in-reaching-net-zero-emissions-by-2050-report-122012501377_1.html

 

 

10. MGNREGA unpaid dues may be around Rs 21,000 cr by FY22-end, says PAEG

https://www.business-standard.com/article/economy-policy/mgnrega-unpaid-dues-may-be-around-rs-21-000-cr-by-fy22-end-says-paeg-122012501461_1.html

 

11. 200 mn jobs missing from Indian economy: Budget must address this crisis

https://www.business-standard.com/article/economy-policy/200-mn-jobs-missing-from-indian-economy-budget-must-address-this-crisis-122012800128_1.html

 

12. How will $120 crude oil price spoil India's budget math?

https://www.business-standard.com/podcast/economy-policy/how-will-120-crude-oil-price-spoil-india-s-budget-math-122012800076_1.html

 

13. Formal job creation under ESIC fell by 17.1% to 1.02 million in November 2021

https://economictimes.indiatimes.com/news/economy/indicators/formal-job-creation-under-the-esic-fell-by-17-1-to-1-02-million-in-november-2021/articleshow/89115738.cms

 

14. Economic indicators flash early warning sign for India’s rebound

https://economictimes.indiatimes.com/news/economy/indicators/economic-indicators-flash-early-warning-sign-for-indias-rebound/articleshow/89148137.cms

 

15. Consumer sentiment improves in January by 3.9% after a dip in December: CMIE

https://economictimes.indiatimes.com/news/economy/indicators/consumer-sentiment-improves-in-january-by-3-9-after-a-dip-in-december-cmie/articleshow/89154629.cms

 

16. Single volume Economic Survey likely, may project growth rate of around 9%

https://economictimes.indiatimes.com/news/economy/policy/single-volume-economic-survey-likely-may-project-growth-rate-of-around-9/articleshow/89073429.cms

 

17. Third wave drags business resumption to pre-Covid levels

https://economictimes.indiatimes.com/news/economy/policy/third-wave-drags-business-resumption-to-pre-covid-levels/articleshow/89101017.cms

 

18. Indian think-tank emerging as key people’s voice amid geo-economic flux

https://economictimes.indiatimes.com/news/economy/policy/indian-think-tank-emerging-as-key-peoples-voice-amid-geo-economic-flux/articleshow/89106970.cms

 

19. Budget FY23: Need to support incomes for consumption push

https://economictimes.indiatimes.com/news/economy/policy/budget-fy23-need-to-support-incomes-for-consumption-push/articleshow/89137860.cms

 

 

 

20. Niti Aayog working on road map to develop Gaushala economy

https://economictimes.indiatimes.com/news/economy/policy/niti-aayog-working-on-road-map-to-develop-gaushala-economy/articleshow/89145535.cms

 

21. Budget should focus on bridging widened inequality in economy, creating jobs: Former RBI Governor D Subbarao

https://economictimes.indiatimes.com/news/economy/policy/budget-should-focus-on-bridging-widened-inequality-in-economy-creating-jobs-former-rbi-governor-d-subbarao/articleshow/89156069.cms

 

22. Lifting consumption, investment & revival of MSME key challenges for policymakers, says RBI's Michael Patra

https://economictimes.indiatimes.com/news/economy/policy/lifting-consumption-investment-revival-of-msme-key-challenges-for-policymakers-says-rbis-michael-patra/articleshow/89175309.cms

 

23. Modi government may try to Budget its way out of economic distress and election woes

https://scroll.in/article/1016077/modi-government-may-try-to-budget-its-way-out-of-economic-distress-and-election-woes

 

24. Poor Country With Affluent Elite, India Is Going Nowhere

https://thewire.in/economy/india-world-inequality-report-poor-affluent-elite-progress

 

25. Budget 2022 Offers the Opportunity to Retrain India's Focus on Public Services

https://thewire.in/economy/budget-2022-offers-the-opportunity-to-retrain-indias-focus-on-public-services

 

26. Banking, debt market system needs to improve for growth of industry, economy: TN Finance Minister

https://theprint.in/economy/banking-debt-market-system-needs-to-improve-for-growth-of-industry-economy-tn-finance-minister/814751/

 

27. India’s economic indicators flash early warning signs for rebound

https://theprint.in/economy/indias-economic-indicators-flash-early-warning-signs-for-rebound/813907/

 

2. Public Finance

 

28. Public spending in India needs to be stepped up

https://www.thehindubusinessline.com/opinion/public-spending-in-india/article64937297.ece

 

29. The importance of fiscal consolidation

https://www.thehindubusinessline.com/blexplainer/bl-explainer-need-for-fiscal-consolidation/article64938621.ece

 

30. India Inc urges Budget sops to boost capex, wants focus on consumer demand

https://www.business-standard.com/article/economy-policy/india-inc-urges-budget-sops-to-boost-capex-wants-focus-on-consumer-demand-122012300486_1.html

 

31. Centre's interest burden may rise 15% in FY23

https://economictimes.indiatimes.com/news/economy/finance/centres-interest-burden-may-rise-15-in-fy23/articleshow/89144996.cms

 

32. India seen boosting budget spending on infrastructure

https://economictimes.indiatimes.com/news/economy/policy/india-seen-boosting-budget-spending-on-infrastructure/articleshow/89147467.cms

 

Taxation

 

33. Corporate tax cuts do boost investments

https://www.thehindubusinessline.com/opinion/corporate-tax-cuts-do-boost-investments/article64938246.ece

 

34. Add 18% GST, for a brighter smile

https://www.thehindubusinessline.com/economy/designing-the-smile-to-attract-goods-services-tax-at-the-rate-of-18-per-cent/article64937154.ece

 

35. STT collections already 57% higher than Budget Estimate for full FY22

https://www.thehindubusinessline.com/data-stories/data-focus-stt-collections-already-57-higher-than-full-year-budget-estimate/article64938727.ece

 

36. GST portal allows interest calculation

https://economictimes.indiatimes.com/news/economy/policy/gst-portal-allows-interest-calculation/articleshow/89169691.cms

 

37. Budget 2022-’23: With the economy in a crisis, Centre should consider a Covid tax on the ultra-rich

https://scroll.in/article/1015438/a-pre-budget-snapshot-indicates-an-economy-in-crisis-the-centre-must-focus-on-jobs-social-spending

 

38. GST authorities arrest 27-yr old for issuing bogus Rs 1,000 cr bills, ITC fraud of Rs 181 cr

https://theprint.in/economy/gst-authorities-arrest-27-yr-old-for-issuing-bogus-rs-1000-cr-bills-itc-fraud-of-rs-181-cr/813540/

 

3. Banking and Monetary Policy

 

39. ‘Microloan securitisation volume sees recovery in FY22’

https://www.thehindubusinessline.com/money-and-banking/micro-loan-securitisation-volumes-see-recovery-in-9mfy22-icra/article64938635.ece

 

40. RBI may raise reverse repo rates

https://economictimes.indiatimes.com/news/economy/policy/rbi-may-raise-reverse-repo-rates/articleshow/89165218.cms

 

4. External Sector

 

41. Chinese investments in Indian start-ups hit a three-year high in 2021 at $14.13 b

https://www.thehindubusinessline.com/info-tech/chinese-investments-into-indian-startups-hit-a-3-year-high-in-2021/article64937879.ece#:~:text=Investments%20from%20Chinese%20venture%20capital,start%2Dups%20across%20232%20deals.

 

42. India’s electronics trade deficit hits three-year high at $44.3 b

https://www.thehindubusinessline.com/info-tech/make-in-india-trends-reverse-as-the-electronic-trade-deficit-with-china-rises-again/article64940716.ece#:~:text=India's%20electronic%20trade%20deficit%20hits,electronic%20trade%20deficit%20in%202021.

 

43. Engineering exports up 54% to $82 bn in Apr-Dec: Commerce ministry

https://www.business-standard.com/article/economy-policy/engineering-exports-up-54-to-82-bn-in-apr-dec-commerce-ministry-122012401159_1.html

 

44. Gems and jewellery exports up 71% during Apr-Dec to $28.9 billion

https://www.business-standard.com/article/economy-policy/gems-and-jewellery-exports-up-71-during-apr-dec-to-28-9-billion-122012501511_1.html

 

45. India and US need a free trade agreement, says USIBC president

https://www.business-standard.com/article/economy-policy/india-and-us-need-a-free-trade-agreement-says-usibc-president-122012600024_1.html

 

46. Electronic goods exports up by 49% on-year in April-Dec 2021

https://www.business-standard.com/article/economy-policy/electronic-goods-exports-up-by-49-on-year-in-april-dec-2021-122012800048_1.html

 

47. Would target $300 bn services exports in 2022-23: SEPC

https://economictimes.indiatimes.com/news/economy/foreign-trade/would-target-300-bn-services-exports-in-2022-23-sepc/articleshow/89070972.cms

 

48. UK can gain 'first mover' advantage in India with FTA: Report

https://economictimes.indiatimes.com/news/economy/foreign-trade/uk-can-gain-first-mover-advantage-in-india-with-fta-report/articleshow/89142141.cms

 

49. Gold savings accounts likely to check widening current account deficit

https://economictimes.indiatimes.com/news/economy/finance/gold-savings-accounts-likely-to-check-widening-current-account-deficit/articleshow/89054048.cms

 

 

50. Crisil calls for tariff cuts to spur exports

https://www.thehindu.com/business/Economy/crisil-calls-for-tariff-cuts-to-spur-exports/article38320643.ece

 

5. Agriculture and Rural Economy

 

51. Brewing a better future for plantations

https://www.thehindubusinessline.com/opinion/proposal-to-recast-the-centre-moves-to-overhaul-commodity-boards-better-late-than-never/article64928175.ece

 

52. Farmers start switching from rabi paddy

https://www.thehindubusinessline.com/economy/agri-business/finally-paddy-farmers-begin-to-switch-to-other-crops/article64927993.ece

 

53. Rabi sowing nearly complete, total area up 1% y-o-y

https://www.thehindubusinessline.com/economy/agri-business/rabi-sowing-wheat-dips-mustard-chana-higher/article64928428.ece

 

54. Will a legally binding MSP deliver?

https://www.thehindubusinessline.com/opinion/legal-msp-in-the-context-of-stabilising-farm-prices-and-income/article64930774.ece

 

55. Basmati exports may gain during Jan-Feb

https://www.thehindubusinessline.com/economy/agri-business/basmati-exports-in-jan-feb-may-improve-still-seen-lower-during-fy22/article64937498.ece

 

56. Govt plans to hike registration fees for chemical pesticides

https://www.thehindubusinessline.com/economy/agri-business/govt-proposes-steep-hike-in-registration-fees-of-chemical-pesticides-to-promote-bio-pesticides/article64939440.ece#:~:text=The%20proposed%20revision%20includes%20increasing,Indigenous%20Manufacturing%20and%20Technical%20Import.

 

57. Wheat exports likely to hit record high this fiscal

https://www.thehindubusinessline.com/economy/agri-business/india-may-export-record-65-million-tonnes-of-wheat-this-fiscal/article64940251.ece

 

58. Budget 2022: Agri-tech and aquaculture sectors seek incentives for R&D

https://economictimes.indiatimes.com/news/economy/agriculture/budget-2022-agri-tech-agri-sectors-seek-incentives-for-rd-inclusion-of-insurance-in-aquaculture/articleshow/89111158.cms

 

 

 

 

59. Tea industry urges govt to come up with schemes to help increase tea exports from India

https://economictimes.indiatimes.com/news/economy/agriculture/tea-industry-urges-govt-to-come-up-with-schemes-to-help-increase-tea-exports-from-india/articleshow/89154944.cms

 

60. AISTA pegs India's 2021-22 sugar production at 31.9 million tonnes

https://economictimes.indiatimes.com/news/economy/agriculture/aista-pegs-indias-2021-22-sugar-production-at-31-9-million-tonnes/articleshow/89158575.cms

 

6. Industry, Manufacturing, Services and Technology

 

61. Electronics production in India to reach $300 bn by 2026: Report

https://www.business-standard.com/article/pti-stories/electronics-production-in-india-to-reach-300-billion-by-2026-report-122012400490_1.html

 

62. Positive sentiment score in real estate hit record high in Dec qtr: Report

https://www.business-standard.com/article/economy-policy/positive-sentiment-score-in-real-estate-hit-record-high-in-dec-qtr-report-122012400559_1.html

 

63. 445 infra projects show cost overrun of Rs 4.4 lakh cr

https://economictimes.indiatimes.com/news/economy/infrastructure/445-infra-projects-show-cost-overrun-of-rs-4-4-lakh-cr/articleshow/89071054.cms

 

64. Indian Digital Infra needs investment of up to $23 bn by 2025: Report

https://economictimes.indiatimes.com/news/economy/infrastructure/indian-digital-infra-needs-investment-of-up-to-23-bn-by-2025-report/articleshow/89085952.cms

 

65. Budget 2022: Why tech-driven warehousing, transport facilities need of hour to become $5 tn economy

https://www.firstpost.com/business/union-budget-2022-budget-2022-why-tech-driven-warehousing-transport-facilities-need-of-hour-to-become-5-tn-economy-10317861.html

 

66. As Budget 2022 Looms, Concerns Around Manufacturing, Jobs and Wages Persist

https://thewire.in/economy/budget-2022-manufacturing-jobs-wages

 

67. Start-ups raised a record $24.1 billion in 2021: study

https://www.thehindu.com/business/Industry/start-ups-raised-a-record-241-billion-in-2021-study/article38303642.ece

 

 

 

 

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

68. A Social Cost of Carbon Consistent with a Net-Zero Climate Goal

https://rooseveltinstitute.org/publications/a-social-cost-of-carbon-consistent-with-a-net-zero-climate-goal/

 

69. Opinion | How Crypto Became the New Subprime

https://www.nytimes.com/2022/01/27/opinion/cryptocurrency-subprime-vulnerable.html

 

70. The Reality of Inflation and Rate of Change in Real Wages - The New York Times

https://www.nytimes.com/2022/01/25/opinion/inflation-economy.html

 

71. Opinion | Attack of the Right-Wing Thought Police

https://www.nytimes.com/2022/01/24/opinion/florida-critical-race-theory-de-santis.html

 

72. Economic Trends Aren't What They Used to Be - The New York Times

https://www.nytimes.com/2022/01/21/opinion/inflation-us-economy-biden.html

 

8. Other Articles/ Columns

 

• Ideas for India

 

73. Gender difference in mathematics learning in rural India

https://www.ideasforindia.in/topics/human-development/gender-difference-in-mathematics-learning-in-rural-india.html

 

74. Covid-19 and long-term poverty: Evidence from rural Rajasthan

https://www.ideasforindia.in/topics/poverty-inequality/covid-19-and-long-term-poverty-evidence-from-rural-rajasthan.html

 

75. Improving public service delivery by fixing payment systems

https://www.ideasforindia.in/topics/governance/improving-public-service-delivery-by-fixing-payment-systems.html

 

• The India Forum

 

76. A Tale of Two Indias

https://www.theindiaforum.in/article/tale-two-indias?utm_source=website&utm_medium=organic&utm_campaign=homepage&utm_content=Top-article

 

 

 

 

 

• EPW

 

Commentary

 

77. Empirical Evidence from India

COVID-19 and Fiscal–Monetary Policy Coordination

https://www.epw.in/journal/2022/4/commentary/covid-19-and-fiscal%E2%80%93monetary-policy-coordination.html

 

78. Mainstreaming Urban Resilience in India

https://www.epw.in/journal/2022/4/commentary/mainstreaming-urban-resilience-india.html

 

Perspectives

 

79. A Case Study from Tamil Nadu

Discourses around Stigma and Denial in the COVID-19 Pandemic

https://www.epw.in/journal/2022/4/perspectives/discourses-around-stigma-and-denial-covid-19.html

 

Special Articles

 

80. Export Performance and India’s Tryst with Self-reliance in the Globalised World

https://www.epw.in/journal/2022/4/special-articles/export-performance-and-indias-tryst-self-reliance.html

 

81. Income and Livelihood Promotion through Individual Assets under MGNREGA

https://www.epw.in/journal/2022/4/special-articles/income-and-livelihood-promotion-through-individual.html

 

82. Migration, Skilling, and Employment in Bengaluru’s New Service Economy

https://www.epw.in/journal/2022/4/special-articles/migration-skilling-and-employment-bengalurus-new.html

 

• Project Syndicate

 

83. Inflation Will Hurt Both Stocks and Bonds

https://www.project-syndicate.org/commentary/inflation-will-hurt-both-stocks-and-bonds-by-nouriel-roubini-2022-01?a_la=english&a_d=61f14980b8460a7116246d8f&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=inflation-will-hurt-both-stocks-and-bonds-by-nouriel-roubini-2022-01&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

84. The Mismanagement of Inflation Expectations

https://www.project-syndicate.org/commentary/central-banks-losing-control-of-inflation-expectations-by-howard-davies-2022-01?a_la=english&a_d=61f16d49b8460a7116c14d1f&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=central-banks-losing-control-of-inflation-expectations-by-howard-davies-2022-01&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

85. How Much Has the Pandemic Cost?

https://www.project-syndicate.org/commentary/how-much-has-the-pandemic-cost-by-andrew-sheng-and-xiao-geng-2022-01?a_la=english&a_d=61f2b83ebb2c368ddbce0db0&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=how-much-has-the-pandemic-cost-by-andrew-sheng-and-xiao-geng-2022-01&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

86. European Inflation Is Not American Inflation

https://www.project-syndicate.org/commentary/inflation-more-worrying-in-us-than-eurozone-by-jean-pisani-ferry-2022-01?a_la=english&a_d=61f2a7d7bb2c368ddb988583&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=inflation-more-worrying-in-us-than-eurozone-by-jean-pisani-ferry-2022-01&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

87. How is Omicron affecting the global economic recovery?

https://www.economist.com/finance-and-economics/how-is-omicron-affecting-the-global-economic-recovery/21807361

 

88. Quantitative tightening is no substitute for higher interest rates

https://www.economist.com/finance-and-economics/2022/01/29/quantitative-tightening-is-no-substitute-for-higher-interest-rates

 

9. News on Kerala

 

89. Minimum wages of workers in electronics industry revised

https://www.thehindu.com/news/national/kerala/minimum-wages-of-workers-in-electronics-industry-revised/article38324704.ece

 

90. Increase in number of private colleges in State

https://www.thehindu.com/news/national/kerala/increase-in-number-of-private-colleges-in-state/article38324898.ece

 

 

 

Print Sources:               The Hindu, Business Line, Business Standard, Economic Times

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