Weekly Updates on the Indian Economy
(23/04/2022 to 29/04/2022)
- National Accounts and State of the Economy
- Financial strength of corporates will be tested in FY23: Ind-Ra
https://www.thehindubusinessline.com/economy/financial-strength-of-corporates-will-be-tested-in-fy23-ind-ra/article65353347.ece
- Mobile-monitoring will dilute MGNREGS, say agri unions
https://www.thehindubusinessline.com/economy/mobile-monitoring-will-dilute-mgnregs-say-unions/article65360557.ece#:~:text=A%20platform%20of%20five%20unions,to%20further%20dilute%20the%20scheme.
- Centre’s employment survey finds addition of 4 lakh jobs
https://www.thehindu.com/business/Economy/govt-survey-shows-rising-trend-in-organised-sector-employment-bhupender-yadav/article65362794.ece
- Rent in Delhi-NCR's upmarket locations rise to 5.6% in Jan-Mar: Report
https://www.business-standard.com/article/economy-policy/rent-in-delhi-ncr-s-upmarket-locations-rise-to-5-6-in-jan-mar-report-122042400433_1.html
- Millions of Indians exiting labour force no longer looking for jobs: CMIE
https://www.business-standard.com/article/economy-policy/india-s-job-market-going-into-greater-threat-people-no-more-look-for-work-122042500124_1.html
- India's GDP may grow 7.5-8% in FY23 on enhanced exports: CII President
https://www.business-standard.com/article/economy-policy/india-s-gdp-may-grow-7-5-8-in-fy23-on-enhanced-exports-cii-president-122042500664_1.html
- Real-time payments expected to boost India's GDP by $45.9 bn in 2026
https://www.business-standard.com/article/economy-policy/real-time-payments-expected-to-boost-india-s-gdp-by-45-9-bn-in-2026-122042600411_1.html
- Centre tells states to step up coal imports for three years: Report
https://www.business-standard.com/article/economy-policy/centre-tells-its-states-to-step-up-coal-imports-for-three-years-report-122042800083_1.html
- India's personal data protection bill may threaten innovation, growth: USTR
https://www.business-standard.com/article/economy-policy/india-s-personal-data-protection-bill-may-threaten-innovation-growth-ustr-122042800477_1.html
- Despite investments, why has unemployment soared in Jammu and Kashmir?
https://scroll.in/article/1022617/despite-investments-why-has-unemployment-soared-in-jammu-and-kashmir
- The Great Indian Poverty Debate, 2.0
https://scroll.in/article/1022262/the-great-indian-poverty-debate-2-0
- LIC IPO to open on May 4, price band set at Rs 902-Rs 949 per share
https://scroll.in/latest/1022761/lic-ipo-to-open-on-may-4-price-band-set-at-rs-902-rs-949-per-share
- Other PSU Sales Are Postponed, So Why Should Top Brand LIC Play on Losing Wicket?
https://thewire.in/economy/lic-ipo-sale-valuation-losing-wicket
- Govt Agency Confirms Centre's Auctions Allowed Millers To Corner Pulses Meant For The Poor
https://thewire.in/economy/govt-agency-confirms-centres-auctions-allowed-millers-to-corner-pulses-meant-for-the-poor
- Is it Possible to Make India Poverty-Free by 2047?
https://thewire.in/economy/is-it-possible-to-make-india-poverty-free-by-2047
- Rescue countries facing debt stress in these uncertain times: FM to World Bank
https://theprint.in/economy/rescue-countries-facing-debt-stress-in-these-uncertain-times-fm-to-world-bank/927508/
- Covid review turns into political blame game as Modi ‘names & shames’ Oppn states for fuel taxes
https://theprint.in/economy/covid-review-turns-into-political-blame-game-as-modi-names-shames-oppn-states-for-fuel-taxes/933316/
- New book celebrates role of grassroots women leaders during COVID pandemic
https://theprint.in/economy/new-book-celebrates-role-of-grassroots-women-leaders-during-covid-pandemic/933514/
- Essential commodities price declined significantly in March 2022 year-on-year
https://theprint.in/economy/essential-commodities-price-declined-significantly-in-march-2022-year-on-year/933607/
- Govt survey shows rising trend in organised sector employment: Bhupender Yadav
https://theprint.in/economy/govt-survey-shows-rising-trend-in-organised-sector-employment-bhupender-yadav/934222/
- Private sector to drive growth of PFRDA pension schemes: Study paper
https://economictimes.indiatimes.com/news/economy/policy/private-sector-to-drive-growth-of-pfrda-pension-schemes-study-paper/articleshow/91049192.cms
- Tag Sri Lanka as 'low-income': FM Sitharaman urges IMF
https://economictimes.indiatimes.com/news/economy/policy/tag-sri-lanka-as-low-income-fm-sitharaman-urges-imf/articleshow/91056893.cms
- Centre to step on the gas to meet Rs 1.62 lakh crore asset monetisation target
https://economictimes.indiatimes.com/news/economy/finance/centre-to-step-on-the-gas-to-meet-rs-1-62-lakh-crore-asset-monetisation-target/articleshow/91164852.cms
- Public Finance
- Fund utilisation of minority schemes slowed amid Covid pandemic, shows data
https://www.business-standard.com/article/economy-policy/fund-utilisation-of-minority-schemes-slowed-amid-covid-pandemic-shows-data-122042601350_1.html
- As subsidy spending rises, finance ministry sees no compromise on capex
https://www.business-standard.com/article/economy-policy/no-compromise-on-capital-expenditure-due-to-subsidies-finance-ministry-122042700029_1.html
- Capital expenditure crucial as inflation may hit India Inc plans: Icra
https://www.business-standard.com/article/economy-policy/capital-expenditure-crucial-as-inflation-may-hit-india-inc-plans-icra-122042900032_1.html
Taxation
- PM urges 7 Opposition-ruled States to reduce tax on petrol, diesel
https://www.thehindubusinessline.com/news/national/opposition-targets-modi-over-taxes-on-petrol-diesel/article65362746.ece
- New corporation tax regime off to flying start
https://www.thehindubusinessline.com/opinion/new-corporation-tax-regime-off-to-flying-start/article65360060.ece
- Did fuel tax cuts by Centre, States in November help end-users?
https://www.thehindubusinessline.com/data-stories/data-focus/did-fuel-tax-cuts-by-centre-states-in-november-help-end-users/article65363387.ece
- TN’s commercial tax revenue crosses ₹1-lakh crore in FY22
https://www.thehindubusinessline.com/news/tns-commercial-tax-revenue-crosses-1-lakh-crore-in-fy22/article65363575.ece
- GST Council has not sought states' views on hiking tax rates: Report
https://www.business-standard.com/article/economy-policy/gst-council-has-not-sought-states-views-on-hiking-tax-rates-report-122042400439_1.html
- Net direct tax collection reaches highest figure of Rs 14.09 trn in FY22
https://www.business-standard.com/article/economy-policy/net-direct-tax-collection-reaches-highest-figure-of-rs-14-09-trn-in-fy22-122042601337_1.html
- Rs 79,000 crore of GST dues to states pending for FY22: Finance Ministry
https://www.business-standard.com/article/economy-policy/rs-79-000-crore-of-gst-dues-to-states-pending-for-fy22-finance-ministry-122042800003_1.html
- FinMin 'embarrassed' PM by putting out GST dues: Chidambaram
https://www.business-standard.com/article/economy-policy/finmin-embarrassed-pm-by-putting-out-gst-dues-chidambaram-122042800201_1.html
- Maharashtra to lose Rs 30,000 cr if GST compensation not extended: Official
https://www.business-standard.com/article/economy-policy/maharashtra-to-lose-rs-30-000-cr-if-gst-compensation-not-extended-official-122042800640_1.html
- India should drop its high foreign liquor taxes, says France's Pernod
https://www.business-standard.com/article/economy-policy/india-should-drop-its-high-foreign-liquor-taxes-says-france-s-pernod-122042801480_1.html
- ‘Nothing is pending’: Centre releases Rs 2.78 lakh crore GST compensation to States for 2020-21
https://theprint.in/economy/nothing-is-pending-centre-releases-rs-2-78-lakh-crore-gst-compensation-to-states-for-2020-21/933922/
- CBDT eyes up to 20% tax-GDP ratio in 5-10 years from 12% now
https://www.thehindu.com/business/Economy/cbdt-eyes-up-to-20-tax-gdp-ratio-in-5-10-years-from-12-now/article65357516.ece
- Banking and Monetary Policy
- ‘Microfinance sector must adapt to RBI’s revised guidelines’
https://www.thehindubusinessline.com/money-and-banking/fidc-seeks-extension-for-banks-for-on-lending-to-nbfcs/article65356400.ece
- With new tax rule, crypto bourses face liquidity crunch
https://www.thehindubusinessline.com/news/new-tax-rule-impact-crypto-exchanges-could-face-liquidity-crunch/article65350995.ece
- Industry well placed to ride any RBI policy rate hike: CII President
https://www.thehindubusinessline.com/economy/industry-well-placed-to-ride-any-rbi-policy-rate-hike-cii-president/article65353796.ece
- RBI not keen on Niti Aayog’s proposal for digital banks
https://www.thehindubusinessline.com/money-and-banking/rbi-not-keen-on-niti-aayogs-digital-bank-proposal/article65359663.ece
- External Sector
- Indonesia ban on palm oil exports starting April 28 rattles Indian markets
https://www.business-standard.com/article/economy-policy/indonesia-ban-on-palm-oil-exports-starting-april-28-rattles-indian-markets-122042201291_1.html
- To boost exports, port logistics must improve
https://www.thehindubusinessline.com/opinion/port-logistics-must-improve-to-boost-exports/article65342503.ece
- India’s FY22 crude oil imports hit 8-year high in value terms
https://www.thehindubusinessline.com/companies/indias-fy22-crude-oil-imports-hit-8-year-high-in-value-terms/article65354383.ece
- Over 32.79 lakh foreigners visited India in 2020 during Covid lockdown
https://www.business-standard.com/article/economy-policy/over-32-79-lakh-foreigners-visited-india-in-2020-during-covid-lockdown-122042600685_1.html
- EU to pursue trade deal with India to reduce its ties to Russia
https://economictimes.indiatimes.com/news/economy/foreign-trade/eu-to-pursue-trade-deal-with-india-to-reduce-its-ties-to-russia/articleshow/91044746.cms
- India needs to remove trade restrictions, reduce tariffs in South Asia, says World Bank
https://economictimes.indiatimes.com/news/economy/foreign-trade/india-needs-to-remove-trade-restrictions-reduce-tariffs-in-the-south-asia-world-bank/articleshow/91125694.cms
- India highlights role of PM-GKAY scheme in ensuring food security during pandemic at WTO meet
https://economictimes.indiatimes.com/news/economy/foreign-trade/india-highlights-role-of-pm-gkay-scheme-in-ensuring-food-security-during-pandemic-at-wto-meet/articleshow/91158552.cms
- India's oil import bill doubles to $119 billion in FY22
https://www.thehindu.com/business/Economy/indias-oil-import-bill-doubles-to-119-billion-in-fy22/article65350880.ece
- Agriculture and Rural Economy
- Wheat procurement down 30% y-o-y, may miss target
https://www.thehindubusinessline.com/economy/agri-business/wheat-procurement-below-expectation-may-miss-target/article65345145.ece
- How ethanol can save sugarcane farmers
https://www.thehindubusinessline.com/economy/agri-business/how-ethanol-could-be-the-solution-to-sugarcane-farmers-woes/article65356391.ece
- How India achieved $50 billion export target in agriculture sector
https://www.business-standard.com/article/economy-policy/how-india-achieved-50-billion-export-target-in-agriculture-sector-122042400558_1.html
- 4 lakh hectare under natural farming now, says agriculture minister Tomar
https://www.business-standard.com/article/economy-policy/4-lakh-hectare-under-natural-farming-now-says-agriculture-minister-tomar-122042500632_1.html
- India's fertiliser subsidy may go up by 55% to record Rs 2.5 trillion
https://www.business-standard.com/article/economy-policy/india-s-fertiliser-subsidy-may-go-up-by-55-to-record-res-2-5-trillion-122042900050_1.html
- Where’s the Silver Lining for India's Rural Labourers?
https://thewire.in/labour/wheres-the-silver-lining-for-indias-rural-labourers
- Price cap on raw jute fixed on basis of scientific method; not arbitrarily
https://theprint.in/economy/price-cap-on-raw-jute-fixed-on-basis-of-scientific-method-not-arbitrarily/931857/
- Agriculture Ministry to organise campaign next week to highlight achievements in farm sector
https://economictimes.indiatimes.com/news/economy/agriculture/agriculture-ministry-to-organise-campaign-next-week-to-highlight-achievements-in-farm-sector/articleshow/91050589.cms
- RBI extends cash credit limit for wheat procurement from Punjab
https://economictimes.indiatimes.com/news/economy/agriculture/rbi-extends-cash-credit-limit-for-wheat-procurement-from-punjab/articleshow/91159005.cms
- India's wheat export boom brings a bonanza to farmers, and budget relief
https://economictimes.indiatimes.com/news/economy/agriculture/indias-wheat-export-boom-brings-a-bonanza-to-farmers-and-budget-relief/articleshow/91167633.cms
- Heat wave scorches India's wheat crop, snags export plans
https://economictimes.indiatimes.com/news/economy/agriculture/heat-wave-scorches-indias-wheat-crop-snags-export-plans/articleshow/91169125.cms
- Industry, Manufacturing, Services and Technology
- Affordable housing projects stall on soaring cost
https://www.thehindubusinessline.com/news/affordable-housing-projects-stall-as-construction-cost-pinch-realtors/article65347922.ece
- Cement makers hike prices by 12% in April as input costs pinch
https://www.thehindubusinessline.com/markets/commodities/cement-makers-hike-prices-by-12-per-cent-in-april-as-input-prices-pinch/article65353292.ece
- Are PSUs joining race for net zero?
https://www.thehindubusinessline.com/opinion/are-psus-joining-the-race-for-net-zero/article65354302.ece
- Retail industry to reach $2 t by 2032: Report
https://www.business-standard.com/article/economy-policy/retail-industry-to-grow-10-a-year-reach-2-trn-by-2032-bcg-rai-report-122042700564_1.html
- Amid rise in demand, housing prices may surge 8% this fiscal: Report
https://www.business-standard.com/article/economy-policy/amid-rise-in-demand-housing-prices-may-surge-8-this-fiscal-report-122042500932_1.html
- PM Modi sees THESE 6 reasons why India is an attractive investment destination for Semi-conductor tech
https://www.firstpost.com/business/pm-modi-sees-these-6-reasons-why-india-is-an-attractive-investment-destination-for-semi-conductor-tech-10613531.html
- MSMEs must be allowed to use pooled data of bio-stimulants for registration process: Industry body
https://theprint.in/economy/msmes-must-be-allowed-to-use-pooled-data-of-bio-stimulants-for-registration-process-industry-body/929988/
- Indian real estate market to grow to Rs 65,000 crore by 2040: CIRIL
https://theprint.in/economy/indian-real-estate-market-to-grow-to-rs-65000-crore-by-2040-ciril/931252/
- Gradual shift from informal to formal for MSMEs
https://economictimes.indiatimes.com/news/economy/policy/gradual-shift-from-informal-to-formal-for-msmes/articleshow/91109053.cms
- Gati Shakti assessment reveals infra gaps in over 131 projects
https://economictimes.indiatimes.com/news/economy/infrastructure/gati-shakti-assessment-reveals-infra-gaps-in-over-131-projects/articleshow/91056894.cms
- New investment, manufacturing jumped in FY22: Goldman Sachs
https://economictimes.indiatimes.com/news/economy/infrastructure/new-investment-manufacturing-jumped-in-fy22-goldman-sachs/articleshow/91122696.cms
- Columns by Paul Krugman/ Joseph Stiglitz
- Opinion | Primetime Inflation Coverage Blames Workers, Hides Profits
https://www.commondreams.org/views/2022/04/23/primetime-inflation-coverage-blames-workers-hides-profits
- Opinion | Billionaires Do Not Give Anything to Society-They Take From It | Jorge Majfud
https://www.commondreams.org/views/2022/04/22/billionaires-do-not-give-anything-society-they-take-it
- Opinion | America, Again the Arsenal of Democracy
https://www.nytimes.com/2022/04/28/opinion/russia-ukraine-biden-aid.html
- What’s Fueling the Global Food Crisis? - The New York Times
https://www.nytimes.com/2022/04/26/opinion/ukraine-russia-food-crisis.html
- Opinion | QAnonization, Orbanization and Disney
https://www.nytimes.com/2022/04/25/opinion/republicans-florida-disney-conspiracy-theories.html
- Opinion | How a Recession Might — and Might Not — Happen
https://www.nytimes.com/2022/04/22/opinion/inflation-recession-federal-reserve.html
- Other Articles/ Columns
- Private returns to bureaucratic appointments: Evidence from financial disclosures in India
https://www.ideasforindia.in/topics/governance/private-returns-to-bureaucratic-appointments-evidence-from-financial-disclosures-in-india.html
- Consumption smoothing and household savings: Role of demographics and durables
https://www.ideasforindia.in/topics/money-finance/consumption-smoothing-and-household-savings-role-of-demographics-and-durables.html
- An Indian Green Deal
https://www.theindiaforum.in/article/indian-green-deal
Commentary
- What Do the Latest Estimates Reveal?
On the Adequacy of the Quarterly Periodic Labour Force Survey
https://www.epw.in/journal/2022/17/commentary/adequacy-quarterly-periodic-labour-force-survey.html
- Perils and Alternatives
Equity Stake of Government in Vodafone
https://www.epw.in/journal/2022/17/commentary/equity-stake-government-vodafone.html
- Trade Measures Enacted by Countries Due to the COVID-19 Pandemic
https://www.epw.in/journal/2022/17/commentary/trade-measures-enacted-countries-due-covid-19.html
- Is Decent Work Elusive under Globalisation and 4IR?
https://www.epw.in/journal/2022/17/commentary/decent-work-elusive-under-globalisation-and-4ir.html
Perspectives
- A Perspective from the HMIS Database (2017–20)
Seasonal Variations in Childbirth
https://www.epw.in/journal/2022/17/perspectives/seasonal-variations-childbirth.html
Special Articles
- Measurement and Analysis of the Productivity of Indian Banks
https://www.epw.in/journal/2022/17/special-articles/measurement-and-analysis-productivity-indian-banks.html
- ‘No Formalities Please!’ Broker Practices in the Municipal Governance of New Delhi
https://www.epw.in/journal/2022/17/special-articles/%E2%80%98no-formalities-please%E2%80%99-broker-practices-municipal.html
- The Gathering Stagflationary Storm
https://www.project-syndicate.org/commentary/world-economy-stagflationary-perfect-storm-by-nouriel-roubini-2022-04?a_la=english&a_d=62665bdde447f895f1cb805c&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=world-economy-stagflationary-perfect-storm-by-nouriel-roubini-2022-04&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog
- Downside Risks to Global Growth
https://www.project-syndicate.org/commentary/downside-risks-to-global-growth-cast-doubt-on-rosy-forecasts-by-stephen-s-roach-2022-04?a_la=english&a_d=6266a4aee447f895f1bc3700&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=downside-risks-to-global-growth-cast-doubt-on-rosy-forecasts-by-stephen-s-roach-2022-04&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog
- The Growing Threat of Global Recession
https://www.project-syndicate.org/commentary/economic-recession-risk-in-china-united-states-europe-by-kenneth-rogoff-2022-04?a_la=english&a_d=6267e6ab222e23c06d43ad20&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=economic-recession-risk-in-china-united-states-europe-by-kenneth-rogoff-2022-04&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog
- America Has Stopped Playing by the Monetary Rules
https://www.project-syndicate.org/commentary/us-freeze-russian-reserves-what-it-means-for-china-by-yu-yongding-2022-04?a_la=english&a_d=626934dab327739e7829a84b&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=us-freeze-russian-reserves-what-it-means-for-china-by-yu-yongding-2022-04&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog
- Will Western Sanctions Change the Global Financial System?
https://www.project-syndicate.org/commentary/western-sanctions-against-russia-impact-on-global-financial-system-by-howard-davies-2022-04?a_la=english&a_d=626a6a2d1d457fc55a28525d&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=western-sanctions-against-russia-impact-on-global-financial-system-by-howard-davies-2022-04&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog
- How would an energy embargo affect Germany’s economy?
https://www.economist.com/finance-and-economics/2022/04/30/how-would-an-energy-embargo-affect-germanys-economy
- Slow pain or fast pain? The implications of low investment yields
https://www.economist.com/finance-and-economics/2022/04/30/slow-pain-or-fast-pain-the-implications-of-low-investment-yields
- China should worry less about its currency
https://www.economist.com/finance-and-economics/2022/04/30/china-should-worry-less-about-its-currency
- A divergence in consumer surveys adds to recession worries for America
https://www.economist.com/finance-and-economics/a-divergence-in-consumer-surveys-adds-to-recession-worries-for-america/21808983
- Russia cuts off gas to two European countries. Who’s next?
https://www.economist.com/finance-and-economics/russia-cuts-off-gas-to-two-european-countries/21808988
- Are emerging economies on the verge of another “lost decade”?
https://www.economist.com/finance-and-economics/are-emerging-economies-on-the-verge-of-another-lost-decade/21808963
- Vast sums of money have gone missing from pandemic stimulus programmes
https://www.economist.com/finance-and-economics/2022/04/30/vast-sums-of-money-have-gone-missing-from-pandemic-stimulus-programmes
- News on Kerala
- Need to develop infra for healthier startup ecosystem: Minister
https://www.thehindu.com/news/national/kerala/need-to-develop-infra-for-healthier-startup-ecosystem-minister/article65357174.ece
- Statistical data on economic status important: Minister
https://www.thehindu.com/news/national/kerala/statistical-data-on-economic-status-important-minister/article65357837.ece
- Kerala has not hiked tax on petrol, diesel in 6 years: Balagopal
https://www.thehindu.com/news/national/kerala/kerala-has-not-hiked-tax-on-petrol-diesel-in-6-years-balagopal/article65360376.ece
- Call to boost women component of five-year plan
https://www.thehindu.com/news/national/kerala/call-to-boost-women-component-of-five-year-plan/article65364245.ece
- Renovated roads to have two-year defect liability period: M.V. Govindan
https://www.thehindu.com/news/national/kerala/renovated-roads-to-have-two-year-defect-liability-period-mv-govindan/article65364559.ece
- Use of Backward Classes Development department funds in education under consideration: Kerala Minister
https://www.thehindu.com/news/national/kerala/use-of-backward-classes-development-department-funds-in-education-under-consideration-kerala-minister/article65364730.ece
- Steps on to create job opportunities for youth in Kerala: Balagopal
https://www.thehindu.com/news/national/kerala/steps-on-to-create-job-opportunities-for-youth-in-kerala-balagopal/article65364472.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