Weekly Updates on the Indian Economy
(26/03/2022 to 01/04/2022)
- National Accounts and State of the Economy
- RBI central board weighs impact of Russia-Ukraine war on economy
https://www.thehindubusinessline.com/economy/rbis-central-board-weighs-impact-of-russia-ukraine-war-on-domestic-economy/article65258881.ece
- Caregiving, the hidden engine of the economy
https://www.thehindubusinessline.com/opinion/caregiving-the-hidden-engine-of-the-economy/article65258954.ece
- RBI likely to maintain easy policy with focus on growth
https://www.thehindubusinessline.com/economy/rbi-expected-to-maintain-easy-policy-with-focus-on-boosting-growth/article65280543.ece
- Why fuel prices in some States burn a larger hole in your pocket
https://www.thehindubusinessline.com/data-stories/data-focus/why-fuel-prices-in-some-states-burn-a-larger-hole-in-your-pocket/article65277964.ece
- Is Globalisation as we know dead?
https://www.thehindubusinessline.com/opinion/is-globalisation-as-we-know-dead/article65277391.ece
- India, at 8% growth, can double economy in 7-8 yrs: Niti Aayog VC
https://www.business-standard.com/article/economy-policy/india-at-8-growth-can-double-economy-in-7-8-yrs-niti-aayog-vc-122032600883_1.html
- Nearly 10% of jobs in aviation lost in Apr 2020 and Dec 2021: Govt
https://www.business-standard.com/article/economy-policy/nearly-10-of-jobs-in-aviation-lost-in-apr-2020-and-dec-2021-govt-122032801052_1.html
- ICRA lowers India's FY23 GDP growth forecast to 7.2% from 8%
https://www.business-standard.com/article/economy-policy/icra-lowers-india-s-fy23-gdp-growth-forecast-to-7-2-from-8-122032900773_1.html
- Too early to predict impact of Ukraine war on economy: Pinaki Chakraborty
https://www.business-standard.com/article/economy-policy/too-early-to-predict-impact-of-ukraine-war-on-economy-pinaki-chakraborty-122033000283_1.html
- India Ratings revise its FY23 GDP growth forecast downwards to 7-7.2%
https://www.business-standard.com/article/economy-policy/india-ratings-revise-its-fy23-gdp-growth-forecast-downwards-to-7-7-2-122033000528_1.html
- Lethargic progress seen in Centre's clean energy ambition, shows data
https://www.business-standard.com/article/economy-policy/centre-s-aim-to-touch-500-gw-clean-energy-by-2030-looks-a-stretch-data-122033001503_1.html
- Financial institutions should be board-driven: RBI Dy Guv Jain
https://economictimes.indiatimes.com/news/economy/policy/financial-institutions-should-be-board-driven-rbi-dy-guv-jain/articleshow/90518415.cms
- Labour market witnesses uneven recovery in January
https://economictimes.indiatimes.com/news/economy/indicators/labour-market-witnesses-uneven-recovery-in-january/articleshow/90450070.cms
- Indian consumers show cautious optimism; balancing non-discretionary spends, says report
https://economictimes.indiatimes.com/news/economy/indicators/indian-consumers-show-cautious-optimism-balancing-non-discretionary-spends-says-report/articleshow/90472062.cms
- India's Oct-Dec current account deficit widens to 2.7% of GDP
https://economictimes.indiatimes.com/news/economy/indicators/indias-oct-dec-current-account-deficit-widens-to-2-7-of-gdp/articleshow/90570082.cms
- Gujarat recorded lowest GSDP growth in five years during 2020-21: CAG
https://economictimes.indiatimes.com/news/economy/indicators/gujarat-recorded-lowest-gsdp-growth-in-five-years-during-2020-21-cag/articleshow/90574644.cms
- Retail inflation for industrial workers eases to 5.04% in Feb
https://economictimes.indiatimes.com/news/economy/indicators/retail-inflation-for-industrial-workers-eases-to-5-04-in-feb/articleshow/90575492.cms
- Ukraine war unlikely to roil Rs 5 tn refinancing next fiscal: Report
https://economictimes.indiatimes.com/news/economy/finance/ukraine-war-unlikely-to-roil-rs-5-tn-refinancing-next-fiscal-report/articleshow/90474868.cms
- India's 2022 GDP Growth Downgraded to 4.6% Due to Ukraine War: UN Report
https://thewire.in/economy/indias-2022-gdp-growth-downgraded-to-4-6-due-to-ukraine-war-un-report
- How Will India Fare in the Brewing Global Food and Fertiliser Crisis?
https://thewire.in/economy/how-will-india-fare-in-the-brewing-global-food-and-fertiliser-crisis
- Odisha's GSDP Grew at 10.1% in 2021-22, Faster Than National Growth Rate: Economic Survey
https://thewire.in/government/odisha-economic-survey-gsdp-grew-at-10-1-in-2021-22-faster-than-national-growth-rate
- Poverty rose but income inequality fell
https://www.thehindu.com/opinion/op-ed/poverty-rose-but-income-inequality-fell/article65265220.ece
- India's March electricity shortage is the worst since coal crisis in October
https://www.thehindu.com/business/Economy/indias-march-electricity-shortage-is-the-worst-since-coal-crisis-in-october/article65278177.ece
- India has safeguards in place to mitigate risks from capital flows: IMF
https://www.thehindu.com/business/Economy/india-has-safeguards-in-place-to-mitigate-risks-from-capital-flows-imf/article65276887.ece
- Public Finance
- Govt to borrow ₹8.45-lakh cr in FY23 first half
https://www.thehindubusinessline.com/economy/centre-pegs-h1-borrowing-target-at-845-lakh-crore-frontloads-plan/article65278720.ece
- India's fiscal deficit touched 82.7% of full-year target at end of Feb
https://www.business-standard.com/article/economy-policy/india-s-april-feb-fiscal-deficit-at-82-7-of-full-year-target-122033100918_1.html
- At 7.43%, states debt cost shoots over the roof at the last auction of FY22
https://www.business-standard.com/article/economy-policy/at-7-43-states-debt-cost-shoots-over-the-roof-at-the-last-auction-of-fy22-122032901538_1.html
- FY22 private placements growth may have hit record low, shows data
https://www.business-standard.com/article/economy-policy/fy22-private-placements-growth-may-have-hit-record-low-shows-data-122033100926_1.html
- Centre plans to borrow 59% of FY23 debt target in April-September
https://www.business-standard.com/article/economy-policy/centre-plans-to-borrow-59-of-fy23-debt-target-in-april-september-122040100030_1.html
- Fiscal & monetary challenges mount for India
https://economictimes.indiatimes.com/news/economy/policy/fiscal-monetary-challenges-mount-for-india/articleshow/90586641.cms
- Capex push to maximise multiplier effect, says FM
https://economictimes.indiatimes.com/news/economy/finance/capex-push-to-maximise-multiplier-effect-says-fm/articleshow/90452341.cms
- Govt's total liabilities rise 2% to Rs 128.41 lakh cr in December quarter
https://economictimes.indiatimes.com/news/economy/finance/govts-total-liabilities-rise-2-to-rs-128-41-lakh-cr-in-december-quarter/articleshow/90496359.cms
- Topped up cess collection to fund schemes for states: FM Nirmala Sitharaman
https://economictimes.indiatimes.com/news/economy/finance/topped-up-cess-collection-to-fund-schemes-for-states-fm-nirmala-sitharaman/articleshow/90551487.cms
Taxation
- Another hurdle to securing input tax credit
https://www.thehindubusinessline.com/opinion/input-tax-credit-the-company-one-keeps-the-credit-one-reaps/article65273867.ece
- Corporate tax reduction helped economy: FM Nirmala Sitharaman
https://www.business-standard.com/article/economy-policy/corporate-tax-reduction-helped-economy-fm-nirmala-sitharaman-122032501390_1.html
- GST, VAT to contribute over 62% to total receipts of Delhi govt in FY23
https://www.business-standard.com/article/economy-policy/gst-vat-to-contribute-over-62-to-total-receipts-of-delhi-govt-in-fy23-122032600811_1.html
- 30% tax on cryptocurrency income to come into effect from Friday
https://www.business-standard.com/article/economy-policy/30-tax-on-cryptocurrency-income-to-come-into-effect-from-friday-122033101330_1.html
- Need simpler GST regime, stable policy setting: Sumant Sinha, Assocham President
https://economictimes.indiatimes.com/news/economy/policy/need-simpler-gst-regime-stable-policy-setting-sumant-sinha-assocham-president/articleshow/90503873.cms
- Framework for GST summons in works
https://economictimes.indiatimes.com/news/economy/policy/framework-for-gst-summons-in-works/articleshow/90527034.cms
- Bring petrol, diesel under GST to ease inflationary burden
https://theprint.in/economy/bring-petrol-diesel-under-gst-to-ease-inflationary-burden/889599/
- Banking and Monetary Policy
- Bond market players want RBI to divide Govt borrowing equally between two halves of FY23
https://www.thehindubusinessline.com/economy/bond-market-players-want-rbi-to-divide-govt-borrowing-equally-between-two-halves-of-fy23/article65262273.ece
- Will NBFC-MFIs get a new lease of life?
https://www.thehindubusinessline.com/opinion/will-nbfcs-in-microfinance-get-a-new-lease-of-life/article65252442.ece
- Why the April monetary policy of RBI is crucial
https://www.thehindubusinessline.com/todays-paper/tp-money-banking/why-the-april-monetary-policy-of-the-rbi-is-crucial/article65265044.ece
- Bank haircuts: FM says checks in place against questionable resolution
https://www.thehindubusinessline.com/economy/bank-haircuts-fm-says-checks-in-place-against-questionable-resolution/article65270581.ece
- Central banks have to do a tightrope walk
https://www.thehindubusinessline.com/opinion/tightrope-walking-by-central-banks/article65267265.ece
- Microfinance sector poised for rural take off
https://www.thehindubusinessline.com/opinion/microfinance-sector-poised-for-take-off/article65277603.ece
- RBI risks falling behind curve on curbing inflation like US Fed: SBI Funds
https://www.business-standard.com/article/economy-policy/rbi-risks-falling-behind-curve-on-curbing-inflation-like-us-fed-sbi-funds-122033000230_1.html
- Non-food credit growth accelerates to 8% in Feb: RBI data
https://www.business-standard.com/article/economy-policy/non-food-credit-growth-accelerates-to-8-in-feb-rbi-data-122033101465_1.html
- Writing off does not mean completely waiving money due from NPAs: Nirmala Sitharaman
https://economictimes.indiatimes.com/news/economy/policy/writing-off-does-not-mean-completely-waiving-money-due-from-npas-nirmala-sitharaman/articleshow/90507965.cms
- Monetary Conditions Index could be a lead indicator of inflation: Study
https://economictimes.indiatimes.com/news/economy/indicators/mci-could-be-a-lead-indicator-of-inflation-study/articleshow/90525949.cms
- External Sector
- External debt rose $11.5 b to $614.9 b in Oct-Dec
https://www.thehindubusinessline.com/economy/external-debt-rose-115-billion-in-sept-dec/article65278846.ece
- Current account deficit jumps to $23 billion in Q3
https://www.thehindubusinessline.com/economy/current-account-deficit-jumps-to-23-billion-in-q3/article65278350.ece
- Rs 3,343 crore received as FDI in defence sector since 2014: Govt
https://www.business-standard.com/article/economy-policy/rs-3-343-crore-received-as-fdi-in-defence-sector-since-2014-govt-122032801202_1.html
- India got 65% more FDI during Modi regime against 10 years of UPA rule: FM
https://www.business-standard.com/article/economy-policy/india-got-65-more-fdi-during-modi-regime-against-10-years-of-upa-rule-fm-122032900985_1.html
- Australia says 'very close' to finalising free-trade agreement with India
https://www.business-standard.com/article/economy-policy/australia-says-close-to-finalizing-free-trade-agreement-with-india-122033000139_1.html
- Gujarat retains top position at NITI Aayog’s Export Preparedness Index 2021
https://economictimes.indiatimes.com/news/economy/foreign-trade/gujarat-retains-top-position-at-niti-aayogs-export-preparedness-index-2021/articleshow/90437540.cms
- India targeting $1 trillion exports by 2030: Piyush Goyal
https://economictimes.indiatimes.com/news/economy/foreign-trade/india-targeting-1-trillion-exports-by-2030-piyush-goyal/articleshow/90524541.cms
- UAE firms keen to invest in J&K: Piyush Goyal
https://economictimes.indiatimes.com/news/economy/foreign-trade/uae-firms-keen-to-invest-in-jk-piyush-goyal/articleshow/90526900.cms
- Explained: India’s record $400 billion exports don’t reveal the full picture
https://scroll.in/article/1020549/explained-indias-record-400-billion-exports-dont-reveal-the-full-picture
- India’s forex reserves slump by another $2.59 billion
https://theprint.in/economy/indias-forex-reserves-slump-by-another-2-59-billion/889269/
- Agriculture and Rural Economy
- Centre, Telangana lock horns over rabi procurement, again
https://www.thehindubusinessline.com/economy/agri-business/rice-vs-paddy-why-centre-and-telangana-lock-horns-over-procurement-of-rabi-paddy/article65258215.ece
- Unlocking the potential of platform coops
https://www.thehindubusinessline.com/opinion/unlocking-the-potential-of-platform-cooperatives/article65267406.ece
- Export demand zooms for broken rice as feed
https://www.thehindubusinessline.com/economy/agri-business/as-maize-prices-climb-export-demand-for-indian-broken-rice-as-animal-feed-soar/article65270194.ece
- UP tops in vegetables output, Bengal second
https://www.thehindubusinessline.com/economy/agri-business/up-topples-west-bengal-as-top-vegetables-producer-andhra-pradesh-continues-to-lead-in-fruits/article65271109.ece
- Onion output likely to be more than last year in FY22; potato slightly less
https://www.business-standard.com/article/economy-policy/onion-output-likely-to-be-more-than-last-year-in-fy22-potato-slightly-less-122032801275_1.html
- Booming wheat exports from India to help relieve global shortages
https://www.business-standard.com/article/economy-policy/booming-wheat-exports-from-india-to-help-relieve-global-shortages-122032900089_1.html
- Focus on quality of agricultural produce to get good price, says Narendra Singh Tomar
https://economictimes.indiatimes.com/news/economy/agriculture/focus-on-quality-of-agricultural-produce-to-get-good-price-says-narendra-singh-tomar/articleshow/90466194.cms
- Govt's paddy procurement reaches 741.62 lac tons so far in 2021-22 season
https://economictimes.indiatimes.com/news/economy/agriculture/govts-paddy-procurement-reaches-741-62-lac-tons-so-far-in-2021-22-season/articleshow/90497683.cms
- No farm loan waiver scheme by Centre in last 5 years: Minister Bhagwat Karad
https://economictimes.indiatimes.com/news/economy/agriculture/no-farm-loan-waiver-scheme-by-centre-in-last-5-years-minister-bhagwat-karad/articleshow/90498304.cms
- Govt in process of setting up committee on MSP: Narendra Singh Tomar
https://economictimes.indiatimes.com/news/economy/agriculture/govt-in-process-of-setting-up-committee-on-msp-narendra-singh-tomar/articleshow/90519502.cms
- Agri products export up by over 25% in first 10 months of FY 2021-22: Govt to LS
https://economictimes.indiatimes.com/news/economy/agriculture/agri-products-export-up-by-over-25-in-first-10-months-of-fy-2021-22-govt-to-ls/articleshow/90537952.cms
- Madhya Pradesh identifies 3.75 mt wheat for exports
https://economictimes.indiatimes.com/news/economy/agriculture/madhya-pradesh-identifies-3-75-mt-wheat-for-exports/articleshow/90548993.cms
- After BJP’s Botched Agricultural Policies, Farmers Will Now Have to Face the Bite of Inflation
https://thewire.in/economy/after-bjps-botched-agricultural-policies-farmers-will-now-have-to-face-the-bite-of-inflation
- 'Continued Govt Assault on NREGA': Workers' Rights Bodies on Revised Wage Rates
https://thewire.in/labour/continued-govt-assault-on-nrega-workers-rights-bodies-on-revised-wage-rates
- Centre extends free foodgrain prog for 6 months till Sept at Rs 80,000 cr cost to exchequer
https://theprint.in/economy/centre-extends-free-foodgrain-prog-for-6-months-till-sept-at-rs-80000-cr-cost-to-exchequer/889956/
- Industry, Manufacturing, Services and Technology
- Covid-related health insurance claims doubled in FY22 due to Delta variant
https://www.thehindubusinessline.com/data-stories/data-focus/health-insurance-covid-claims-doubled-in-fy22-due-to-delta-variant/article65267270.ece
- Getting Railways on track, financially
https://www.thehindubusinessline.com/opinion/making-railways-financially-sustainable/article65273691.ece
- Retail gold jewellers’ revenue to jump 22 per cent this fiscal: Crisil
https://www.thehindubusinessline.com/news/retail-jewellers-revenue-to-jump-22-this-fiscal-crisil/article65273565.ece
- Core sector growth at 4-month high of 5.8 pc in Feb
https://www.thehindubusinessline.com/economy/core-sector-growth-at-4-month-high-of-58-pc-in-feb/article65278123.ece
- Indian home healthcare market to grow 2.5x to $19.9 bn by 2025: Nathealth
https://www.business-standard.com/article/economy-policy/indian-home-healthcare-market-to-grow-2-5x-to-19-9-bn-by-2025-nathealth-122032901032_1.html
- Running on borrowings, Indian Railways must get on the track
https://www.business-standard.com/article/economy-policy/running-on-borrowings-indian-railways-must-get-on-the-track-122032901596_1.html
- Cabinet clears Rs 6,062-crore World Bank-assisted programme for MSMEs
https://www.business-standard.com/article/economy-policy/cabinet-clears-rs-6-062-crore-world-bank-assisted-programme-for-msmes-122033000878_1.html
- MSME sector crucial for India's economic progress: PM Narendra Modi
https://www.business-standard.com/article/economy-policy/msme-sector-crucial-for-india-s-economic-progress-pm-narendra-modi-122033001621_1.html
- Housing sales rise 7% in Jan-Mar across 8 cities; new supply up 50%: Report
https://www.business-standard.com/article/economy-policy/housing-sales-rise-7-in-jan-mar-across-8-cities-new-supply-up-50-report-122033100779_1.html
- India registers 162% growth in EV sales this year, says Gadkari
https://www.business-standard.com/article/economy-policy/india-registers-162-growth-in-ev-sales-this-year-says-gadkari-122033100685_1.html
- Infra sector growth rises to 4-month high of 5.8% in Feb
https://www.business-standard.com/article/economy-policy/infra-sector-output-rises-to-5-8-in-feb-versus-3-3-in-year-ago-period-122033101074_1.html
- Asia's factory activity slows as Ukraine crisis, inflation bite
https://www.business-standard.com/article/economy-policy/asia-s-factory-activity-slows-as-ukraine-crisis-inflation-bite-122040100152_1.html
- What are the challenges facing the PLI scheme?
https://www.business-standard.com/podcast/economy-policy/what-are-the-challenges-facing-the-pli-scheme-122040100080_1.html
- DPIIT reviews 374 high impact infra projects in FY22
https://economictimes.indiatimes.com/news/economy/infrastructure/dpiit-reviews-374-high-impact-infra-projects-in-fy22/articleshow/90548513.cms
- 421 infra projects show cost overruns of Rs 4.73 lakh cr
https://economictimes.indiatimes.com/news/economy/infrastructure/421-infra-projects-show-cost-overruns-of-rs-4-73-lakh-cr/articleshow/90471260.cms
- RERA council to discuss structural safety of high-rise buildings on April 12
https://theprint.in/economy/rera-council-to-discuss-structural-safety-of-high-rise-buildings-on-april-12/895271/
- Columns by Paul Krugman/ Joseph Stiglitz
- Opinion | Will Putin Kill the Global Economy?
https://www.nytimes.com/2022/03/31/opinion/putin-global-economy.html
- How Rising Prices Are Affecting America’s Boom - The New York Times
https://www.nytimes.com/2022/03/29/opinion/inflation-prices-interest-rates.html
- Opinion | Putin and the Myths of Western Decadence
https://www.nytimes.com/2022/03/28/opinion/putin-western-decadence.html
- Why the Burst Shale Bubble Is Now Helping Putin - The New York Times
https://www.nytimes.com/2022/03/25/opinion/shale-oil-gas-ukraine-putin.html
- Other Articles/ Columns
- Does going cashless make you tax-rich? Evidence from India’s demonetisation
https://www.ideasforindia.in/topics/governance/does-going-cashless-make-you-tax-rich-evidence-from-india-s-demonetisation.html
- How RSBY impacted healthcare utilisation and spending
https://www.ideasforindia.in/topics/human-development/how-rsby-impacted-healthcare-utilisation-and-spending.html
Special Articles
- Insights from North East India
Elderly Living Arrangements
https://www.epw.in/journal/2022/13/special-articles/elderly-living-arrangements.html
- Insights from the Expansion in Coal Mining
The Road Ahead for Environmental Impact Assessment in India
https://www.epw.in/journal/2022/12/special-articles/road-ahead-environmental-impact-assessment-india.html
- Tracing the Transformations in Delhi’s Taxi Industry
Before the Gig Economy
https://www.epw.in/journal/2022/12/special-articles/gig-economy.html
- Policy Options and Implications
Price or Income Support to Farmers
https://www.epw.in/journal/2022/12/special-articles/price-or-income-support-farmers.html
- Is the New Stagflation Policy-Proof?
https://www.project-syndicate.org/commentary/stagflationary-environment-putins-war-no-optimal-policy-response-by-nouriel-roubini-and-brunello-rosa-2022-03?a_la=english&a_d=62444004074567593838a9f2&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=stagflationary-environment-putins-war-no-optimal-policy-response-by-nouriel-roubini-and-brunello-rosa-2022-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=
- The New Art of Economic Warfare
https://www.project-syndicate.org/commentary/western-sanctions-on-russia-new-economic-warfare-by-kaushik-basu-2022-03?a_la=english&a_d=6242ec89a64f8a1a07c700dc&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=western-sanctions-on-russia-new-economic-warfare-by-kaushik-basu-2022-03&a_pa=section-commentaries&a_ps=&a_ms=&a_r=
- Can the Fed pull off an “immaculate disinflation”?
https://www.economist.com/finance-and-economics/2022/04/02/can-the-fed-pull-off-an-immaculate-disinflation
- Under unprecedented sanctions, how is the Russian economy faring?
https://www.economist.com/finance-and-economics/2022/04/02/under-unprecedented-sanctions-how-is-the-russian-economy-faring
- The White House wants to close a tax loophole used by the ultra-rich
https://www.economist.com/finance-and-economics/2022/04/02/the-white-house-wants-to-close-a-tax-loophole-used-by-the-ultra-rich
- India grapples with the new realities of the global oil market
https://www.economist.com/finance-and-economics/2022/04/02/india-grapples-with-the-new-realities-of-the-global-oil-market
- Surging food prices take a toll on poor economies
https://www.economist.com/finance-and-economics/2022/04/02/surging-food-prices-take-a-toll-on-poor-economies
- News on Kerala
- India’s ‘space economy’ valued at ₹36,794 crore
https://www.thehindu.com/news/national/study-values-indias-space-economy-at-36794-crore-in-2020-21/article65265007.ece
- U.S. to cooperate with State in higher education
https://www.thehindu.com/news/national/kerala/us-to-cooperate-with-state-in-higher-education/article65274912.ece
- Local bodies oppose ESZ regulations
https://www.thehindu.com/news/national/kerala/local-bodies-oppose-esz-regulations/article65278486.ece
- Taxes, charges to go up in State from Friday
https://www.thehindu.com/news/national/kerala/taxes-charges-to-go-up-in-state-from-friday/article65278755.ece
Print Sources: The Hindu, Business Line, Business Standard, Economic Times
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