Weekly Updates on the Indian Economy
(05/03/2022 to 11/03/2022)
- National Accounts and State of the Economy
- Step up women’s participation in the economy
https://www.thehindubusinessline.com/opinion/getting-more-women-to-be-part-of-indias-growth-journey/article65190298.ece
- Fuel price hikes likely with State polls coming to an end
https://www.thehindubusinessline.com/economy/fuel-prices-likely-to-rise-further-as-voting-ends-on-monday/article65198201.ece
- RBI must start focusing on inflation control
https://www.thehindubusinessline.com/opinion/rbi-must-start-focussing-on-inflation-control/article65198191.ece
- Collateral damage: Ukraine invasion and energy markets
https://www.thehindubusinessline.com/opinion/collateral-damage-ukraine-invasion-and-energy-markets/article65201261.ece
- India’s growth story is ‘missing’ women
https://www.thehindubusinessline.com/opinion/indias-growth-story-is-missing-women/article65210740.ece
- India's food inflation set to worsen as Russia-Ukraine crisis intensifies
https://www.business-standard.com/article/economy-policy/india-s-food-inflation-set-to-worsen-as-russia-ukraine-crisis-intensifies-122030500081_1.html
- Women borrowers' tally grows at CAGR of 19% in 5 yrs; men at 14%: CIBIL
https://www.business-standard.com/article/economy-policy/women-borrowers-tally-grows-at-cagr-of-19-in-5-yrs-men-at-14-cibil-122030700693_1.html
- India Inc has long way to go for true gender equality at workplace: Mercer
https://www.business-standard.com/article/economy-policy/india-inc-has-long-way-to-go-for-true-gender-equality-at-workplace-mercer-122030701274_1.html
- Hiring activities witness 31% increase in February: Report
https://www.business-standard.com/article/economy-policy/hiring-activities-witness-31-increase-in-february-report-122030701352_1.html
- India's February fuel demand rises, but soaring crude may slow uptick
https://www.business-standard.com/article/economy-policy/india-s-february-fuel-demand-rises-but-soaring-crude-may-slow-uptick-122030901429_1.html
- India needs to recalibrate response to price pressure: Raghuram Rajan
https://www.business-standard.com/article/economy-policy/india-needs-to-recalibrate-response-to-price-pressure-raghuram-rajan-122031000009_1.html
- Economic growth at 7.8%, oil price rise a dampener: S&P Global Ratings
https://www.business-standard.com/article/economy-policy/economic-growth-at-7-8-oil-price-rise-a-dampener-s-p-global-ratings-122031000012_1.html
- BPO, shipping lead Feb 2022 hiring activity: Monster Employment Index
https://www.business-standard.com/article/economy-policy/bpo-shipping-lead-feb-2022-hiring-activity-monster-employment-index-122031001101_1.html
- MS flags stagflation risk for India, cuts FY23 GDP growth forecast
https://www.business-standard.com/article/economy-policy/ms-flags-stagflation-risk-for-india-cuts-fy23-gdp-growth-forecast-122031001320_1.html
- India's GDP growth expected at 7.8% in fiscal 2023, says Crisil
https://www.business-standard.com/article/economy-policy/india-s-gdp-growth-expected-at-7-8-in-fiscal-2023-says-crisil-122031001236_1.html
- Surge in global energy prices will hurt India, says IMF MD Georgieva
https://www.business-standard.com/article/economy-policy/surge-in-global-energy-prices-will-hurt-india-says-imf-md-georgieva-122031100118_1.html
- Poll win offers Narendra Modi political capital for reforms, say economists
https://economictimes.indiatimes.com/news/economy/policy/poll-win-offers-narendra-modi-political-capital-for-reforms-say-economists/articleshow/90139038.cms
- Oil shock risks becoming 'nightmare' for Reserve Bank of Indi
https://economictimes.indiatimes.com/news/economy/indicators/oil-shock-risks-becoming-nightmare-for-reserve-bank-of-india/articleshow/90041837.cms
- Maharashtra's economy expected to grow by 12.1% in 2021-22: Economic survey
https://economictimes.indiatimes.com/news/economy/indicators/maharashtras-economy-expected-to-grow-by-12-1-in-2021-22-economic-survey/articleshow/90125270.cms
- Russia-Ukraine: With Both Oil and Rupee on Fire, What Are Modi Govt's Policy Options?
https://thewire.in/economy/russia-ukraine-with-both-oil-and-rupee-on-fire-what-are-modi-govts-policy-options
- Crude oil price heading to record high, how will it impact Indian economy?
https://theprint.in/economy/crude-oil-price-heading-to-record-high-how-will-it-impact-indian-economy/864304/
- Projects with implementation risks should be financed by capital markets: Former RBI Dy Governor
https://www.thehindu.com/business/projects-with-implementation-risks-should-be-financed-by-capital-markets-former-rbi-dy-governor/article65211751.ece
- Inflation may stay below 6% even if oil averages $100: Crisil
https://www.thehindu.com/business/Economy/inflation-may-stay-below-6-even-if-oil-averages-100-crisil/article65211553.ece
- Public Finance
- Elections 2022: Economic challenges for new governments in UP and Punjab
https://www.business-standard.com/podcast/economy-policy/elections-2022-economic-challenges-for-new-governments-in-up-and-punjab-122031100082_1.html
- Ukraine crisis could disrupt India's spending plans, recovery: Report
https://www.business-standard.com/article/economy-policy/ukraine-crisis-could-disrupt-india-s-spending-plans-recovery-report-122030800868_1.html
- Telangana government presents tax free budget for 2022-23
https://www.business-standard.com/article/economy-policy/telangana-government-presents-tax-free-budget-for-2022-23-122030800022_1.html
- Andhra Pradesh govt presents Rs 2.56 trillion budget for 2022-23
https://www.business-standard.com/article/economy-policy/andhra-pradesh-govt-presents-rs-2-56-trillion-budget-for-2022-23-122031100363_1.html
Taxation
- ‘Hiking GST slabs will cripple trade, MSMEs’
https://www.thehindubusinessline.com/news/move-to-hike-the-current-gst-slab-will-cripple-trade-and-msmes-agrofood-chamber/article65204832.ece
- Dosa, idli mix to attract 18% GST: Tamil Nadu AAAR
https://www.thehindubusinessline.com/economy/dosa-idli-mix-etc-to-attract-gst-at-the-rate-of-18-per-cent-tamil-nadu-aaar/article65201244.ece
- States cut back ‘scissor effect’, see recovery in own tax revenue
https://www.thehindubusinessline.com/data-stories/deep-dive/deep-dive-states-leave-behind-scissor-effect-show-healthy-recovery-in-own-tax-revenue/article65192800.ece
- IndiaTech says new GST rules contradict Digital India mission
https://www.thehindubusinessline.com/info-tech/indiatech-seeks-review-of-gst-on-online-travel-and-small-businesses/article65211309.ece
- GST Council may consider raising lowest slab to 8%, rationalise tax slabs
https://www.business-standard.com/article/economy-policy/gst-council-may-consider-raising-lowest-slab-to-8-rationalise-tax-slabs-122030600271_1.html
- Union Budget sets agenda to provide tax predictable regime: FM
https://www.business-standard.com/article/economy-policy/union-budget-sets-agenda-for-continuity-to-provide-tax-predictable-regime-vision-for-25-yrs-fm-122030700714_1.html
- GST compensation cess period already extended till March 2026: FM
https://www.business-standard.com/article/economy-policy/gst-compensation-cess-period-already-extended-till-march-2026-fm-122030901281_1.html
- GST Council may consider proposal to raise lowest slab to 8%, rationalise tax slabs
https://economictimes.indiatimes.com/news/economy/policy/gst-council-may-consider-proposal-to-raise-lowest-slab-to-8-pc-rationalise-tax-slabs/articleshow/90027776.cms
- Bengal brickfield owners’ body sees closure of units if proposed GST hike implemented
https://theprint.in/economy/bengal-brickfield-owners-body-sees-closure-of-units-if-proposed-gst-hike-implemented/861254/
- Banking and Monetary Policy
- Rupee at historic low, equities crash
https://www.thehindubusinessline.com/markets/rupee-sinks-to-life-time-low-as-oil-on-fire-and-fii-hit-exit-button-breaches-77-mark-in-after-market-hours-trades/article65202125.ece
- MF AUM dips despite positive inflow in equity in February
https://www.thehindubusinessline.com/markets/mf-aum-dips-despite-positive-inflow-in-equity-in-february/article65206970.ece
- Food inflation on Ukraine crisis could force RBI's hand on rates: Economist
https://www.business-standard.com/article/economy-policy/food-inflation-on-ukraine-crisis-could-force-rbi-s-hand-on-rates-economist-122030901188_1.html
- We see clear advantages in central bank driven digital currency: Nirmala Sitharaman
https://economictimes.indiatimes.com/news/economy/policy/we-see-clear-advantages-in-central-bank-driven-digital-currency-nirmala-sitharaman/articleshow/90073339.cms
- Interest subsidy scheme for exporters extended till March 2024: RBI
https://economictimes.indiatimes.com/news/economy/policy/interest-subsidy-scheme-for-exporters-extended-till-march-2024-rbi/articleshow/90084862.cms
- Credit penetration to women low despite better repayment rates, says report
https://economictimes.indiatimes.com/news/economy/indicators/credit-penetration-to-women-low-despite-better-repayment-rates-says-report/articleshow/90058194.cms
- How rupee affects macroeconomics, domestic competition, and why its fall isn’t all bad news
https://theprint.in/economy/how-rupee-affects-macroeconomics-domestic-competition-and-why-its-fall-isnt-all-bad-news/864466/
- External Sector
- Growth likely to be impacted by Russia-Ukraine conflict
https://www.thehindubusinessline.com/data-stories/data-focus/growth-likely-to-be-impacted-by-russia-ukraine-conflict/article65201087.ece
- RBI extends interest subsidy scheme for exporters till March 2024
https://www.thehindubusinessline.com/economy/extension-of-interest-subsidy-scheme-to-provide-greater-certainty-say-exporters/article65207935.ece
- What does Indian trade stand to lose and gain from Russia-Ukraine conflict?
https://www.business-standard.com/podcast/economy-policy/what-does-indian-trade-stand-to-lose-and-gain-from-russia-ukraine-conflict-122030700500_1.html
- Export-to-GDP ratio: India must get back to 2013-14 level, shows data
https://www.business-standard.com/article/economy-policy/export-to-gdp-ratio-india-must-get-back-to-2013-14-level-shows-data-122030700924_1.html
- India's coal imports fall 8.76% in Feb, domestic production rises
https://www.business-standard.com/article/companies/india-s-coal-imports-fall-8-76-in-feb-domestic-production-rises-122030701156_1.html
- India's exports may reach $410 billion this fiscal, says Piyush Goyal
https://www.business-standard.com/article/economy-policy/india-s-exports-may-reach-410-billion-this-fiscal-says-piyush-goyal-122030701365_1.html
- Ukraine war may cripple exim trade, trim corporate margins: Report
https://www.business-standard.com/article/economy-policy/ukraine-war-may-cripple-exim-trade-trim-corporate-margins-report-122030701415_1.html
- Surge in commodity prices may push CAD to 2.8% of GDP in Q3: Report
https://www.business-standard.com/article/economy-policy/surge-in-commodity-prices-may-push-cad-to-2-8-of-gdp-in-q3-report-122030900790_1.html
- India-UAE bilateral FTA: Upgrades in the export basket, shows data
https://www.business-standard.com/article/economy-policy/india-uae-bilateral-fta-upgrades-in-the-export-basket-shows-data-122030901460_1.html
- Maharashtra saw drop in FDI inflow in 2021-22; Karnataka emerged on top
https://www.business-standard.com/article/economy-policy/maharashtra-saw-drop-in-fdi-inflow-in-2021-22-karnataka-emerged-on-top-122031000929_1.html
- India Inc's direct overseas investment plunges 67% to $754 mn in Feb
https://www.business-standard.com/article/economy-policy/india-inc-s-direct-overseas-investment-plunges-67-to-754-mn-in-feb-122031001194_1.html
- India's Russian coal imports could be highest in over two years in March
https://www.business-standard.com/article/economy-policy/india-s-russian-coal-imports-could-be-highest-in-over-two-years-in-march-122031001260_1.html
- The Ukraine Crisis Has Only Laid Bare India's Economic Sore Spots
https://thewire.in/economy/the-ukraine-crisis-has-only-laid-bare-indias-economic-sore-spots
- Forex reserves rise by USD 394 mn to USD 631.92 bn
https://theprint.in/economy/forex-reserves-rise-by-usd-394-mn-to-usd-631-92-bn/869231/
- Agriculture and Rural Economy
- As wheat prices soar, India could become Asia’s ‘food bowl’
https://www.thehindubusinessline.com/economy/agri-business/as-wheat-prices-soar-india-could-become-asias-food-bowl/article65189955.ece
- As wheat prices soar, India looks for export markets
https://www.thehindubusinessline.com/economy/agri-business/indias-wheat-exports-to-top-10-mt-this-fiscal-due-to-russia-ukraine-conflict-usda/article65210517.ece
- Export of APEDA’s agri products up 23% in Apr-Jan
https://www.thehindubusinessline.com/economy/agri-business/export-of-apedas-agri-products-grows-23-per-cent-in-apr-jan/article65201350.ece
- Three States allow free trade of agriculture produce outside mandis, without any levy
https://www.thehindubusinessline.com/economy/agri-business/three-states-allow-free-trading-of-agri-produce-even-after-repeal-of-farm-laws/article65204824.ece
- Organic cotton production on the rise, led by Madhya Pradesh and Odisha
https://www.thehindubusinessline.com/data-stories/data-focus/data-focus-organic-cotton-production-on-the-rise-led-by-mp-and-odisha/article65207630.ece
- Subsidy Raj holding back economic progress
https://www.thehindubusinessline.com/opinion/subsidy-raj-holding-back-indias-economic-progress/article65207290.ece
- States can now act against dealer, producer of substandard fertilisers
https://www.thehindubusinessline.com/economy/agri-business/states-can-act-against-dealer-and-manufacturer-of-substandard-fertilisers/article65206968.ece
- Agri Ministry ready with new Rs 2,500 cr plan to boost natural farming
https://www.business-standard.com/article/economy-policy/agri-ministry-ready-with-new-rs-2-500-cr-plan-to-boost-natural-farming-122030800815_1.html
- India's sugar exports accelerate on global price rally, weak rupee
https://www.thehindu.com/business/Industry/indias-sugar-exports-accelerate-on-global-price-rally-weak-rupee/article65212106.ece
- Industry, Manufacturing, Services and Technology
- February services PMI improves a tad to 51.8
https://www.thehindubusinessline.com/economy/services-pmi-improves-a-tad-to-518-in-february/article65189855.ece
- ‘Domestic air passenger traffic saw 19-20% growth in Feb’
https://www.thehindubusinessline.com/economy/logistics/domestic-passenger-traffic-witnesses-19-20-sequential-growth-in-february-2022/article65203836.ece#:~:text=Domestic%20passenger%20traffic%20witnessed%20a,threat%20for%20the%20aviation%20sector.
- Nearly 70% women want to buy real estate; prefer ready homes: Survey
https://www.business-standard.com/article/economy-policy/nearly-70-women-want-to-buy-real-estate-prefer-ready-homes-survey-122030701072_1.html
- Industry has a role to play in reducing tax disputes, says FinMin
https://www.business-standard.com/article/economy-policy/industry-has-a-role-to-play-in-reducing-tax-disputes-says-finmin-122030701596_1.html
- Established residential realtors' topline to grow 35% in FY22: Report
https://www.business-standard.com/article/economy-policy/established-residential-realtors-topline-to-grow-35-in-fy22-report-122030801287_1.html
- Public-Private Partnership to be key driver of PM Gati Shakti scheme: MoS Finance
https://economictimes.indiatimes.com/news/economy/infrastructure/public-private-partnership-to-be-key-driver-of-pm-gati-shakti-scheme-mos-finance/articleshow/90046811.cms
- Industrial growth at 1.3 pc in Jan: Govt data
https://theprint.in/economy/industrial-growth-at-1-3-pc-in-jan-govt-data/869223/
- Columns by Paul Krugman/ Joseph Stiglitz
- The IMF's Unfinished Business | by Joseph E. Stiglitz & Kevin P. Gallagher - Project Syndicate
https://www.project-syndicate.org/commentary/imf-review-must-embrace-capital-controls-by-joseph-e-stiglitz-and-kevin-p-gallagher-2022-03
- The IMF's Agreement with Argentina Could Be a Game Changer
https://www.project-syndicate.org/commentary/imf-argentina-agreement-growth-instead-of-austerity-by-joseph-e-stiglitz-and-mark-weisbrot-2-2022-03
- Opinion | America’s Right Has a Putin Problem
https://www.nytimes.com/2022/03/10/opinion/putin-ukraine-russia-usa.html
- How Putin’s War In Ukraine Might Affect the World Economy - The New York Times
https://www.nytimes.com/2022/03/08/opinion/putin-russia-ukraine-economy-sanctions.html
- Other Articles/ Columns
- On the perils of embedded experiments
https://www.ideasforindia.in/topics/miscellany/on-the-perils-of-embedded-experiments.html
- How cleaner cookstoves and fuels could benefit women’s health and the environment
https://www.ideasforindia.in/topics/human-development/how-cleaner-cookstoves-and-fuels-could-benefit-women-s-health-and-the-environment.html
Commentary
- Policy Landscape for Diet Diversity in India
https://www.epw.in/journal/2022/10/commentary/policy-landscape-diet-diversity-india.html
- Systemic Loopholes in the Contract Labour System
Iron Ore Mines in Jharkhand
https://www.epw.in/journal/2022/10/commentary/iron-ore-mines-jharkhand.html
- Changes in Income Distribution and Widening of Inequality Are a Major Hurdle
Durable Growth Revival
https://www.epw.in/journal/2022/10/commentary/durable-growth-revival.html
Special Articles
- Divergence between Consumption and Asset-based Estimates
Poverty and Deprivation in India
https://www.epw.in/journal/2022/11/special-articles/poverty-and-deprivation-india.html
- Some New Results
Quantification of Services Trade Restrictions
https://www.epw.in/journal/2022/10/special-articles/quantification-services-trade-restrictions.html
- Entrepreneurship at the Grassroots
https://www.epw.in/journal/2022/11/special-articles/entrepreneurship-grassroots.html
- Household Consumption Expenditure Inequality in Rural India (1993–94 to 2011–12)
https://www.epw.in/journal/2022/11/special-articles/household-consumption-expenditure-inequality-rural.html
- The IMF's Unfinished Business
https://www.project-syndicate.org/commentary/imf-review-must-embrace-capital-controls-by-joseph-e-stiglitz-and-kevin-p-gallagher-2022-03?a_la=english&a_d=6225d9064f4448644fa1f658&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=imf-review-must-embrace-capital-controls-by-joseph-e-stiglitz-and-kevin-p-gallagher-2022-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog
- The Ukraine War's Multifaceted Economic Fallout
https://www.project-syndicate.org/commentary/economic-policy-response-to-ukraine-war-by-mohamed-a-el-erian-2022-03?a_la=english&a_d=62260d0c4f4448644f492851&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=economic-policy-response-to-ukraine-war-by-mohamed-a-el-erian-2022-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=
- What If Our Economy Valued What Matters?
https://www.project-syndicate.org/commentary/valuing-health-for-all-new-metrics-for-economic-policy-and-progress-by-mariana-mazzucato-2022-03?a_la=english&a_d=622774f5070106bb74070922&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=valuing-health-for-all-new-metrics-for-economic-policy-and-progress-by-mariana-mazzucato-2022-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog
- The Monetary Consequences of Vladimir Putin
https://www.project-syndicate.org/commentary/russia-financial-sanctions-will-change-currency-reserves-by-barry-eichengreen-2022-03?a_la=english&a_d=6229cf8fef1af2dec478e263&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=russia-financial-sanctions-will-change-currency-reserves-by-barry-eichengreen-2022-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=
- Will Putin's War Slow China's Growth?
https://www.project-syndicate.org/commentary/will-ukraine-war-slow-chinese-economic-growth-by-nancy-qian-1-2021-03?a_la=english&a_d=622a29dfef1af2dec4f1a486&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=will-ukraine-war-slow-chinese-economic-growth-by-nancy-qian-1-2021-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=
- Putin’s War Is Damaging the Developing World
https://www.project-syndicate.org/commentary/ukraine-war-economic-damage-for-developing-countries-by-jayati-ghosh-2022-03?a_la=english&a_d=6229c0fbef1af2dec4482589&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=ukraine-war-economic-damage-for-developing-countries-by-jayati-ghosh-2022-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=
- Iran’s flourishing stockmarket reflects its resilient economy
https://www.economist.com/finance-and-economics/2022/03/12/irans-flourishing-stockmarket-reflects-its-resilient-economy
- How oil shocks have become less shocking
https://www.economist.com/finance-and-economics/2022/03/12/how-oil-shocks-have-become-less-shocking
- War in Ukraine will cripple global food markets
https://www.economist.com/finance-and-economics/2022/03/12/war-in-ukraine-will-cripple-global-food-markets
- Can the world cope without Russia’s huge commodity stash?
https://www.economist.com/finance-and-economics/2022/03/12/can-the-world-cope-without-russias-huge-commodity-stash
- Russia looks to Chinese financial plumbing to keep money flowing
https://www.economist.com/finance-and-economics/russia-looks-to-chinese-financial-plumbing-to-keep-money-flowing/21808071
- News on Kerala
- Major tax revisions unlikely in Budget: Minister
https://www.thehindu.com/news/national/kerala/major-tax-revisions-unlikely-in-budget-minister/article65204831.ece
- Balagopal sounds cautiously optimistic
https://www.thehindu.com/news/national/kerala/balagopal-sounds-cautiously-optimistic/article65214138.ece
- UDF terms Budget an exercise in smoke and mirrors
https://www.thehindu.com/news/national/kerala/udf-terms-budget-an-exercise-in-smoke-and-mirrors/article65214250.ece
- Research needs to contribute to productive sector
https://www.thehindu.com/news/national/kerala/stress-on-quality-enhancement-in-higher-education-sector/article65214068.ece
- Kerala Budget: Rural development sector gets ₹6,096 crore
https://www.thehindu.com/news/national/kerala/kerala-budget-rural-development-sector-gets-6096-crore/article65213936.ece
- Kerala Budget: Taking forward gains in local governance
https://www.thehindu.com/news/national/kerala/kerala-budget-taking-forward-gains-in-local-governance/article65214031.ece
- Budget bets big on IT sector
https://www.thehindu.com/news/national/kerala/budget-bets-big-on-it-sector/article65213863.ece
- ₹329.64 for Animal Husbandry sector
https://www.thehindu.com/news/national/kerala/32964-for-animal-husbandry-sector/article65214104.ece
- Big targets for MGNREGS amidst slashed Central aid
https://www.thehindu.com/news/national/kerala/big-targets-for-mgnregs-amidst-slashed-central-aid/article65213870.ece
- Budget allocation to support KILA’s goals
https://www.thehindu.com/news/national/kerala/budget-allocation-to-support-kilas-goals/article65213836.ece
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