Weekly Updates on the Indian Economy

(30/04/2022 to 06/05/2022)

1. National Accounts and State of the Economy

 

1. India will take over a decade to overcome Covid-19 losses: RBI report

https://www.thehindubusinessline.com/economy/india-will-take-over-a-decade-to-overcome-covid-19-losses-rbi-report/article65367148.ece

 

2. The roots of Sri Lanka’s debilitating debt trap

https://www.thehindubusinessline.com/opinion/the-roots-of-sri-lankas-debilitating-debt-trap/article65376335.ece

 

3. Understanding inflation expectations

https://www.thehindubusinessline.com/opinion/understanding-inflation-expectations/article65379258.ece

 

4. Print media revenue to grow 20-25%: Ind-Ra

https://www.thehindubusinessline.com/economy/print-media-revenue-expected-to-grow-by-20-25-per-cent-in-fy23-india-ratings/article65377845.ece

 

5. PM Modi invites Nordic companies to invest in India’s Blue Economy

https://www.thehindubusinessline.com/news/pm-modi-invites-nordic-companies-to-invest-in-indias-blue-economy/article65382153.ece

 

6. India emerged stronger despite huge loss due to Covid: Rajeev Chandrasekhar

https://www.business-standard.com/article/economy-policy/india-emerged-stronger-despite-huge-loss-due-to-covid-rajeev-chandrasekhar-122043000398_1.html

 

7. Yogi govt to provide one job to every farmer family in Uttar Pradesh

https://www.business-standard.com/article/economy-policy/yogi-govt-to-provide-one-job-to-every-farmer-family-in-uttar-pradesh-122050100151_1.html

 

8. Eminent economist Suman Bery takes charge as Niti Aayog Vice Chairman

https://www.business-standard.com/article/economy-policy/eminent-economist-suman-bery-takes-charge-as-niti-aayog-vice-chairman-122050100174_1.html

 

9. As India's Covid-19 cases inch up, recreation and shopping visits show dip

https://www.business-standard.com/article/economy-policy/recovery-tracker-lower-mobility-vehicle-registrations-122050200703_1.html

 

10. India's unemployment rate rose to 7.83% in April, shows CMIE data

https://www.business-standard.com/article/economy-policy/india-s-unemployment-rate-rose-to-7-83-in-april-shows-cmie-data-122050201088_1.html

 

11. India's $5-trillion economy dream: Not before FY29, says IMF

https://www.business-standard.com/article/economy-policy/india-s-5-trillion-economy-dream-not-before-fy29-says-imf-122050300020_1.html

 

12. Experts not convinced about CMIE's unemployment data for April

https://www.business-standard.com/article/economy-policy/experts-not-convinced-about-cmie-s-unemployment-data-for-april-122050300851_1.html

 

13. Inflationary pressures likely to continue on geopolitical tensions: RBI

https://www.business-standard.com/article/economy-policy/inflationary-pressures-likely-to-continue-on-geopolitical-tensions-rbi-122050400731_1.html

 

14. Growth to be in range of 7-8.5% given global uncertainties: CEA Nageswaran

https://www.business-standard.com/article/economy-policy/growth-to-be-in-range-of-7-8-5-given-global-uncertainties-cea-nageswaran-122050401135_1.html

 

15. ATF price hiked by 3.22% to record high

https://www.thehindu.com/business/Economy/atf-price-hiked-by-322-per-cent-to-record-high/article65372391.ece

 

16. Rising costs hit grocery consumption, staples and F&B worst affected

https://economictimes.indiatimes.com/news/economy/indicators/rising-costs-hit-grocery-consumption-staples-and-fb-worst-affected/articleshow/91299496.cms

 

17. Recovery of consumer sentiments maybe impacted by inflation and unemployment: CMIE

https://economictimes.indiatimes.com/news/economy/indicators/recovery-of-consumer-sentiments-maybe-impacted-by-inflation-and-unemployment-cmie/articleshow/91338033.cms

 

18. All indicators show that India is on the growth path: Goyal

https://economictimes.indiatimes.com/news/economy/indicators/all-indicators-show-that-india-is-on-the-growth-path-goyal/articleshow/91364396.cms

 

19. Ensure India emerges as world's source of quality food grain: PM Modi

https://www.business-standard.com/article/economy-policy/ensure-india-emerges-as-world-s-source-of-quality-food-grain-pm-modi-122050501412_1.html

 

20. Interview: ‘India should prioritise employment generation in its macroeconomic policy’

https://scroll.in/article/1023041/interview-india-should-prioritise-employment-generation-in-its-macroeconomic-policy

 

21. India’s economy likely to take till 2035 to overcome losses due to Covid-19, says RBI

https://scroll.in/latest/1022992/indias-economy-likely-to-take-till-2035-to-overcome-losses-due-to-covid-19-says-rbi

 

22. What Does the Caste Wealth Gap Look Like in India?

https://thewire.in/economy/what-does-the-caste-wealth-gap-look-like-in-india

 

23. Are We on the Edge of a Food Crisis?

https://thewire.in/economy/are-we-on-the-edge-of-a-food-crisis.

 

24. A Tale of Trade-offs: The Anatomy of the Direct Benefit Transfers System

https://thewire.in/political-economy/a-tale-of-trade-offs-the-anatomy-of-the-direct-benefit-transfers-system

 

25. Economy faces headwinds from global spillovers: RBI

https://theprint.in/economy/economy-faces-headwinds-from-global-spillovers-rbi/942288/

 

2. Public Finance

 

26. Wastage in welfare and subsidy schemes: Centre cracks the whip

https://www.business-standard.com/article/economy-policy/wastage-in-welfare-and-subsidy-schemes-centre-cracks-the-whip-122050200006_1.html

 

27. State govts' borrowings to be lower by Rs 50,000 crore in Q1: ICRA

https://www.business-standard.com/article/economy-policy/state-govts-borrowings-to-be-lower-by-rs-50-000-crore-in-q1-icra-122050400033_1.html

 

28. States' off-balance-sheet borrowings at decadal high; will hurt new investments, warns Crisil

https://economictimes.indiatimes.com/news/economy/finance/states-off-balance-sheet-borrowings-at-decadal-high-will-hurt-new-investments-warns-crisil/articleshow/91315147.cms

 

29. Govt warns of action against officials giving wrong financial information

https://www.thehindubusinessline.com/news/national/finmin-warns-of-action-against-state-officials-responsible-for-falsification-of-financial-information/article65384921.ece

Taxation

 

30. At ₹1.68-lakh cr, GST mop-up hits an all-time high in April

https://www.thehindubusinessline.com/economy/gst-collection-records-an-all-time-high-of-168-lakh-crore/article65372545.ece

 

31. GoM for flat 28% GST on online gaming

https://www.thehindubusinessline.com/economy/gom-for-flat-28-gst-on-online-gaming/article65375882.ece

 

32. Inflation, imports main reasons for record GST collections, says report

https://www.business-standard.com/article/economy-policy/inflation-imports-main-reasons-for-record-gst-collections-says-report-122050300027_1.html

 

33. E-way bill generation dips in April; may hit May’s GST collection

https://www.livemint.com/news/india/eway-bill-generation-eases-a-notch-in-april-11651759680854.html

 

3. Banking and Monetary Policy

 

34. Banks post robust Q4 results

https://www.thehindubusinessline.com/money-and-banking/banks-post-robust-q4-results/article65372392.ece

 

35. RBI turns hawkish, ups repo rate by 40 bps ‘to tackle inflation’

https://www.thehindubusinessline.com/money-and-banking/mpc-turns-hawkish-ups-repo-rate-by-40-bps-due-to-fears-of-collateral-damage-from-elevated-inflation/article65381945.ece

 

36. High growth sectors not getting enough credit

https://www.thehindubusinessline.com/opinion/high-growth-sectors-not-getting-adequate-credit/article65381375.ece

 

37. Incremental credit-to-GDP FY23 share likely to cross 50% mark: SBI report

https://www.business-standard.com/article/economy-policy/incremental-credit-to-gdp-fy23-share-likely-to-cross-50-mark-sbi-report-122050200512_1.html

 

38. India should take caution in introducing CBDC, says NCAER report

https://www.business-standard.com/article/economy-policy/india-should-take-caution-in-introducing-cbdc-says-ncaer-report-122050400036_1.html

 

39. In a surprise move, RBI raises repo rate by 40 bps to 4.40 per cent

https://www.business-standard.com/article/economy-policy/repo-rate-raised-by-40-bps-to-4-40-with-immediate-effect-rbi-governor-122050400541_1.html

 

40. RBI should raise rates more to fulfil inflation mandate, regain credibility

https://www.business-standard.com/article/economy-policy/rbi-should-raise-rates-more-to-fulfil-inflation-mandate-regain-credibility-122050500193_1.html

 

41. Reward points, e-vouchers out of crypto tax ambit

https://economictimes.indiatimes.com/news/economy/finance/reward-points-e-vouchers-out-of-crypto-tax-ambit/articleshow/91299526.cms

 

42. Most banks put up lending, deposit rates

https://www.thehindubusinessline.com/money-and-banking/banks-begin-to-raise-lending-deposit-rates/article65384079.ece

 

4. External Sector

 

43. India fights for a permanent solution to public stock holding, MSP issues

https://www.thehindubusinessline.com/economy/wto-mc12-india-fights-against-sidelining-of-public-stock-holding-msp-issues/article65367164.ece

 

44. India’s exports jump 24% YoY to $38.19 bn in April, trade deficit widens

https://www.livemint.com/economy/indias-exports-jump-24-yoy-to-38-19-bn-in-april-trade-deficit-widens-11651579472065.html

 

45. India’s external sector looks vulnerable

https://www.thehindubusinessline.com/opinion/indias-external-sector-looks-vulnerable/article65376512.ece

 

46. Structural faultlines in trade numbers

https://www.thehindubusinessline.com/opinion/structural-faultlines-in-trade-numbers/article65382047.ece

 

47. India's pharma exports touch Rs 1.8 trillion in FY22, flat over FY21

https://www.business-standard.com/article/economy-policy/india-s-pharma-exports-touch-rs-1-8-trillion-in-fy22-flat-over-fy21-122050200931_1.html

 

48. India's Russian oil import 'minuscule', must not be politicised: Govt

https://www.business-standard.com/article/economy-policy/india-s-oil-russian-import-minuscule-must-not-be-politicised-govt-122050400898_1.html

 

49. India excludes 1,157 products from ambit of free trade pact with UAE

https://economictimes.indiatimes.com/news/economy/foreign-trade/india-excludes-1157-products-from-ambit-of-free-trade-pact-with-uae/articleshow/91316982.cms

 

50. India exports 7 mn tons of sugar so far this marketing yr; may touch new record of 9 mn: ISMA

https://economictimes.indiatimes.com/news/economy/foreign-trade/india-exports-7-mn-tons-of-sugar-so-far-this-marketing-yr-may-touch-new-record-of-9-mn-isma/articleshow/91341424.cms

 

51. India’s forex reserves slide to $600.42 billion; 7th straight weekly fall

https://theprint.in/economy/indias-forex-reserves-slide-to-600-42-billion-7th-straight-weekly-fall/937340/

 

5. Agriculture and Rural Economy

 

52. Wheat procurement target may be missed by a mile

https://www.thehindubusinessline.com/economy/agri-business/india-wheat-procurement-likely-to-be-lower-by-over-50-of-govt-target/article65373749.ece

 

53. For PMGKAY, Centre asks four States to shift from wheat to rice

https://www.thehindubusinessline.com/economy/agri-business/centre-cuts-wheat-allocation-for-12-states-under-pmgkay/article65378547.ece

 

54. Wheat procurement down 44% to 162 lakh tonnes till May 1 on higher exports

https://www.business-standard.com/article/economy-policy/wheat-procurement-down-44-to-162-lakh-tonnes-till-may-1-on-higher-exports-122050201030_1.html

 

55. 11% fewer households demanded work under MGNREGA this April, shows data

https://www.business-standard.com/article/economy-policy/11-fewer-households-demanded-work-under-mgnrega-this-april-shows-data-122050300023_1.html

 

56. Innovations to mitigate carbon emission in dairy sector

https://www.business-standard.com/article/economy-policy/innovations-to-mitigate-carbon-emission-in-dairy-sector-122050301170_1.html

 

57. Cumin prices to touch 5-year high as output shrinks by third: Report

https://www.business-standard.com/article/economy-policy/cumin-prices-to-touch-5-year-high-as-output-shrinks-by-third-report-122050300790_1.html

 

58. Govt assures on fertiliser availability during Kharif season; says subsidy may rise to Rs 2.5 lakh cr this fiscal

https://economictimes.indiatimes.com/news/economy/agriculture/govt-assures-on-fertiliser-availability-during-kharif-season-says-subsidy-may-rise-to-rs-2-5-lakh-cr-this-fiscal/articleshow/91268187.cms

 

59. Farmers sell wheat to private players on global demand, lesser yield

https://economictimes.indiatimes.com/news/economy/agriculture/farmers-sell-wheat-to-private-players-on-global-demand-lesser-yield/articleshow/91325484.cms

 

60. Indian wheat prices increase by 2-3% after govt says exports will continue

https://economictimes.indiatimes.com/news/economy/agriculture/indian-wheat-prices-increase-by-2-3-after-govt-says-exports-will-continue/articleshow/91353246.cms

 

61. Sugar output up 14%; may touch record of 35.5 million tonnes in 2021-22: NFCSF

https://economictimes.indiatimes.com/news/economy/agriculture/sugar-output-up-14-may-touch-record-of-35-5-million-tonnes-in-2021-22-nfcsf/articleshow/91346799.cms

 

62. 45% growth in active internet users in rural India since 2019: Study

https://www.business-standard.com/article/economy-policy/45-growth-in-active-internet-users-in-rural-india-since-2019-study-122050501161_1.html

 

 

6. Industry, Manufacturing, Services and Technology

 

63. Core sector output growth slows down to 4.3% in March on high base effect

https://www.thehindubusinessline.com/economy/high-base-effect-core-sector-output-growth-slows-down-to-43-per-cent-in-march-2022/article65367094.ece

 

64. Integrating MSMEs into global value chains

https://www.thehindubusinessline.com/opinion/integrating-msmes-into-global-value-chains/article65373553.ece

 

65. Top IT firms see major drop in operating margins in Q4

https://www.thehindubusinessline.com/info-tech/top-it-companies-see-significant-drop-in-operating-margins-for-q4/article65372808.ece#:~:text=The%20top%20four%20IT%20companies,attrition%20rates%20and%20pricing%20pressures.

 

66. Manufacturing PMI rises to 54.7 in April, not much change on job front

https://www.thehindubusinessline.com/economy/indias-factory-activity-quickens-in-april-amid-high-inflation/article65374954.ece

 

67. India's gold jewellery consumption likely to grow 11% in FY23: Report

https://www.business-standard.com/article/economy-policy/india-s-gold-jewellery-consumption-likely-to-grow-11-in-fy23-report-122050200734_1.html

 

68. Affordable housing finance cos loan book to grow 17-20% in FY23: Study

https://www.business-standard.com/article/economy-policy/affordable-housing-finance-cos-loan-book-to-grow-17-20-in-fy23-study-122050300886_1.html

 

69. India's services activity at 5-month high in Apr despite inflation worries

https://www.business-standard.com/article/economy-policy/india-s-april-services-pmi-at-five-month-high-despite-inflation-worries-122050500292_1.html

 

70. Auto retail sales grow 37% in April on low Covid-hit base effect

https://www.business-standard.com/article/economy-policy/auto-retail-sales-grow-37-in-april-on-low-covid-hit-base-effect-122050500339_1.html

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

71. Vaccinating the world against COVID-19 is a no-brainer

https://journals.plos.org/globalpublichealth/article?id=10.1371%2Fjournal.pgph.0000427

 

72. Opinion | Wonking Out: Education Has Less to Do With Inequality Than You Think

https://www.nytimes.com/2022/04/29/opinion/college-student-loan-debt.html

 

73. Opinion | America, Again the Arsenal of Democracy

https://www.nytimes.com/2022/04/28/opinion/russia-ukraine-biden-aid.html

 

8. Other Articles/ Columns

 

• Ideas for India

 

74. Carbon dioxide emissions from India’s industries: Data sources and discrepancies

https://www.ideasforindia.in/topics/environment/carbon-dioxide-emissions-from-india-s-industries-data-sources-and-discrepancies.html

 

• EPW

 

Commentary

 

75. Growth and Decomposition of Nutri-cereals in India (1960–61 to 2019–20)

https://www.epw.in/journal/2022/18/commentary/growth-and-decomposition-nutri-cereals-india-1960.html

 

76. A Micro-perspective from Two South Indian States

Is Growth Enough for Poverty Reduction?

https://www.epw.in/journal/2022/18/commentary/growth-enough-poverty-reduction.html

 

77. The Sustainable Development Goals

https://www.epw.in/journal/2022/18/commentary/sustainable-development-goals.html

 

Perspectives

 

78. The Political Economy of the Crisis in Sri Lanka

https://www.epw.in/journal/2022/18/perspectives/political-economy-crisis-sri-lanka.html

 

Special Articles

 

79. Unpacking India’s COVID-19 Social Assistance Package

https://www.epw.in/journal/2022/19/special-articles/unpacking-indias-covid-19-social-assistance.html

 

80. Ramifications for the Post-pandemic Recovery Phase

India’s Household Leverage and the COVID-19 Crisis

https://www.epw.in/journal/2022/18/special-articles/indias-household-leverage-and-covid-19-crisis.html

 

 

 

 

81. Politics of Caste as a Census Category in Colonial India c 1871–1941

Numbers as a Means to Power

https://www.epw.in/journal/2022/18/special-articles/numbers-means-power.html

 

• Project Syndicate

 

82. Private-Debt Risks Are Hiding in Plain Sight

https://www.project-syndicate.org/commentary/pandemic-debt-moratorium-and-ukraine-war-boost-debt-distress-by-carmen-m-reinhart-and-leora-klapper-2022-05?a_la=english&a_d=626f9b800a2d4d96d1cbcbd2&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=pandemic-debt-moratorium-and-ukraine-war-boost-debt-distress-by-carmen-m-reinhart-and-leora-klapper-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

83. Can Europe Weather Looming Gas Shortages?

https://www.project-syndicate.org/commentary/eu-gas-shortage-contingency-plan-by-karsten-neuhoff-and-isabella-m-weber-2022-05?a_la=english&a_d=626fd9320a2d4d96d1e7f496&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=eu-gas-shortage-contingency-plan-by-karsten-neuhoff-and-isabella-m-weber-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

84. Good US-China Strategic Competition

https://www.project-syndicate.org/commentary/us-china-zero-sum-strategic-competition-technology-innovation-by-michael-spence-2022-05?a_la=english&a_d=626feeab0a2d4d96d13f716f&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=us-china-zero-sum-strategic-competition-technology-innovation-by-michael-spence-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

85. When Does Inflation Stop?

https://www.project-syndicate.org/commentary/what-caused-and-will-end-inflation-by-koichi-hamada-2022-05?a_la=english&a_d=62711bed97482688cc75fdc0&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=what-caused-and-will-end-inflation-by-koichi-hamada-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

86. The Fed Does Not Deserve All the Inflation Blame

https://www.project-syndicate.org/commentary/us-federal-reserve-inflation-blame-by-kenneth-rogoff-2022-05?a_la=english&a_d=62727b37b470021221dc3b86&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=us-federal-reserve-inflation-blame-by-kenneth-rogoff-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

 

 

87. Addressing Europe’s Corporate Technology Gap

https://www.project-syndicate.org/commentary/europe-disruptive-innovation-corporate-technology-gap-by-jan-mischke-and-jurica-novak-2022-05?a_la=english&a_d=6273938b411e6e4961968d62&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=europe-disruptive-innovation-corporate-technology-gap-by-jan-mischke-and-jurica-novak-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

88. Who wins from carnage in the credit markets?

https://www.economist.com/finance-and-economics/2022/05/07/who-wins-from-carnage-in-the-credit-markets

 

89. Why long-term economic growth often disappoints

https://www.economist.com/finance-and-economics/2022/05/07/why-long-term-economic-growth-often-disappoints

 

90. India begins the privatisation of its huge life-insurance company

https://www.economist.com/finance-and-economics/2022/05/07/india-begins-the-privatisation-of-its-huge-life-insurance-company

 

91. Will an ever feebler currency save or sink Japan’s economy?

https://www.economist.com/finance-and-economics/will-an-ever-feebler-currency-save-or-sink-japans-economy/21809095

 

92. Russia’s economy is back on its feet

https://www.economist.com/finance-and-economics/2022/05/07/russias-economy-is-back-on-its-feet

 

9. News on Kerala

 

93. Universities to share research capabilities

https://www.thehindu.com/news/national/kerala/universities-to-share-research-capabilities/article65385427.ece

 

94. Interest in e-vehicles high: survey

https://www.thehindu.com/news/national/kerala/interest-in-e-vehicles-high-survey/article65385574.ece

 

95. State Finance Commission submits report

https://www.thehindu.com/news/national/kerala/state-finance-commission-submits-report/article65379369.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