Weekly Updates on the Indian Economy

(07/05/2022 to 13/05/2022)

 

1. National Accounts and State of the Economy

 

1. Why WHO’s Covid death estimates need not be taken too seriously

https://www.thehindubusinessline.com/data-stories/data-focus/why-whos-estimate-for-covid-fatality-need-not-be-taken-too-seriously/article65388421.ece

 

2. At 2%, India’s Covid booster dose coverage is among the lowest globally

https://www.thehindubusinessline.com/data-stories/data-focus/at-2-covid-booster-dose-coverage-is-among-the-lowest-in-india/article65397218.ece

 

3. Can India survive a global downturn?

https://www.thehindubusinessline.com/opinion/can-the-indian-economy-survive-a-global-downturn/article65401455.ece

 

4. At 7.79%, retail inflation surges to near 8-year high in April

https://www.thehindubusinessline.com/economy/at-779-per-cent-retail-inflation-surges-to-8-year-high-another-round-of-policy-interest-rate-hike-certain/article65407658.ece

 

5. Around 78% of India’s e-waste not being collected or disposed by govt

https://www.thehindubusinessline.com/data-stories/data-focus/around-78-of-indias-e-waste-is-not-being-collected-or-disposed-by-the-government/article65406820.ece

 

6. Gig workers leaving food delivery platforms in search of better pay, working conditions

https://www.thehindubusinessline.com/companies/gig-workers-are-leaving-food-delivery-platforms-in-search-of-better-payouts/article65407597.ece

 

7. Indian inflation likely accelerated to an 18-month high in April: Report

https://www.business-standard.com/article/economy-policy/indian-inflation-likely-accelerated-to-an-18-month-high-in-april-report-122051000172_1.html

 

8. India's FY22 per capita income projected higher than Bangladesh: IMF

https://www.business-standard.com/article/economy-policy/india-s-fy22-per-capita-income-projected-higher-than-bangladesh-imf-122051100047_1.html

 

9. Rising cost of living is driving Indians to save more money: EY report

https://www.business-standard.com/article/economy-policy/rising-cost-of-living-is-driving-indians-to-save-more-money-ey-report-122051100596_1.html

 

 

10. Morgan Stanley cuts India's growth forecasts on inflation, global slowdown

https://www.business-standard.com/article/economy-policy/morgan-stanley-cuts-india-s-growth-forecasts-on-inflation-global-slowdown-122051100919_1.html

 

11. Better placed than peers to fight inflation: Finance ministry report

https://www.business-standard.com/article/economy-policy/better-placed-than-peers-to-fight-inflation-finance-ministry-report-122051300004_1.html

 

12. Economic growth to slow if RBI hikes rates: Finance secy Somanathan

https://www.business-standard.com/article/economy-policy/economic-growth-to-slow-if-rbi-hikes-rates-finance-secy-somanathan-122051300010_1.html

 

13. Chhattisgarh becomes first state to restore old pension scheme: Report

https://www.business-standard.com/article/economy-policy/chhattisgarh-becomes-first-state-to-restore-old-pension-scheme-snubs-nps-122051300409_1.html

 

14. Delaying action does not protect growth: Montek Singh Ahluwalia on RBI rate hike

https://economictimes.indiatimes.com/news/economy/policy/delaying-action-does-not-protect-growth-montek-singh-ahluwalia-on-rbi-rate-hike/articleshow/91405082.cms

 

15. Urban unemployment rate dips to 8.7% in October-December quarter

https://economictimes.indiatimes.com/news/economy/indicators/urban-unemployment-rate-dips-to-8-7-in-october-december-quarter/articleshow/91384556.cms

 

16. Inflation in India ‘hot’, faces high and rising underlying inflation: Report

https://economictimes.indiatimes.com/news/economy/indicators/inflation-in-india-hot-faces-high-and-rising-underlying-inflation-report/articleshow/91458926.cms

 

17. India remains Asia’s best long-term structural story for equities: Chris Wood

https://economictimes.indiatimes.com/news/economy/indicators/india-remains-asias-best-long-term-structural-story-for-equities-chris-wood/articleshow/91469756.cms

 

18. Indian consumers expect financial situation to improve next year: EY report

https://economictimes.indiatimes.com/news/economy/indicators/indian-consumers-expect-financial-situation-to-improve-next-year-ey-report/articleshow/91493525.cms

 

 

 

 

19. India's labour force increases by 8.8 million in April, one of the largest monthly rises

https://economictimes.indiatimes.com/news/economy/indicators/indias-labour-force-increases-by-8-8-million-in-april-one-of-the-largest-monthly-rises/articleshow/91512662.cms

 

20. Shrinkflation hits India’s snacks as firms struggle with costs

https://economictimes.indiatimes.com/news/economy/indicators/shrinkflation-hits-indias-snacks-as-firms-struggle-with-costs/articleshow/91534141.cms

 

21. Govt. has opened up avenues for private sector investment without bar: Sitharaman

https://www.thehindu.com/business/govt-has-opened-up-avenues-for-private-sector-investment-without-bar-sitharaman/article65398562.ece

 

22. GDP growth to be near 8%, despite inflation worries: Finance Ministry

https://www.thehindu.com/business/Economy/gdp-growth-to-be-near-8-despite-inflation-worries-fin-min/article65408657.ece

 

23. How COVID-19 Worsened Hardships of India’s Domestic Workers

https://thewire.in/rights/how-covid-19-has-worsened-hardships-of-indias-domestic-workers

 

24. All is Not Well With India's Gig Economy

https://thewire.in/economy/all-is-not-well-with-indias-gig-economy

 

2. Public Finance

 

25. States' borrowing cost up at record 7.69% despite 40% dip in bond issuances

https://www.business-standard.com/article/economy-policy/states-borrowing-cost-up-at-record-7-69-despite-40-dip-in-bond-issuances-122051001307_1.html

 

26. West Bengal's claim of Rs 98,000 crore dues from Centre unrealistic: Ashok Lahiri

https://economictimes.indiatimes.com/news/economy/finance/west-bengals-claim-of-rs-98000-crore-dues-from-centre-unrealistic-ashok-lahiri/articleshow/91498365.cms

 

27. New debt ceiling norms cloud States’ borrowing plans

https://www.thehindu.com/business/Economy/new-debt-ceiling-norms-cloud-states-borrowing-plans/article65401840.ece

 

Taxation

 

28. HC order to pare GST outgo for buyers of under-construction flats: Experts

https://www.business-standard.com/article/economy-policy/hc-order-to-pare-gst-outgo-for-buyer-of-under-construction-flats-experts-122050800475_1.html

 

29. Delhi records highest-ever GST collection for April at Rs 2,898 cr

https://www.business-standard.com/article/economy-policy/delhi-records-highest-ever-gst-collection-for-april-at-rs-2-898-cr-122051300024_1.html

 

30. GST Council mulling 28% tax on Bitcoin, other cryptocurrencies

https://economictimes.indiatimes.com/news/economy/policy/gst-council-mulling-28-tax-on-bitcoin-other-cryptocurrencies/articleshow/91447695.cms

 

31. Revenue Dept seeks RTI exemption for its big data wing on GST, tax evasion

https://economictimes.indiatimes.com/news/economy/policy/revenue-dept-seeks-rti-exemption-for-its-big-data-wing-on-gst-tax-evasion/articleshow/91526027.cms

 

32. Fact check: Does a rise in EPF accounts, GST collection indicate job creation, as the Centre claims?

https://scroll.in/article/1023378/fact-check-does-a-rise-in-epf-accounts-gst-collection-indicate-job-creation-as-the-centre-claims

 

3. Banking and Monetary Policy

 

33. Rupee sinks to lifetime low

https://www.thehindubusinessline.com/markets/forex/rupee-sinks-to-a-new-lifetime-low/article65398888.ece#:~:text=But%20experts%20say%20India%20is,76.96%20on%20March%207%2C%202022.

 

34. RBI’s recovery prescription lacks specifics

https://www.thehindubusinessline.com/opinion/rbis-recovery-prescription-lacks-specifics/article65398451.ece

 

35. How a weaker rupee will impact the Indian economy and people?

https://www.business-standard.com/podcast/economy-policy/how-a-weaker-rupee-will-impact-the-indian-economy-and-people-122051100115_1.html

 

36. RBI may 'kill excess demand' in economy in six-eight months

https://www.business-standard.com/article/economy-policy/rbi-may-kill-excess-demand-in-economy-in-six-eight-months-122051200035_1.html

 

37. Inflation getting broad-based, RBI set to hike repo by 100 bps: CRISIL

https://www.business-standard.com/article/economy-policy/inflation-getting-broad-based-rbi-set-to-hike-repo-by-1-in-fy23-report-122051201405_1.html

 

38. RBI willing to ease investment rules to boost demand in securities

https://theprint.in/economy/rbi-willing-to-ease-investment-rules-to-boost-demand-in-securities/952578/

 

 

 

39. Control inflation by acting on liquidity

https://www.thehindu.com/opinion/lead/control-inflation-by-acting-on-liquidity/article65402231.ece

 

4. External Sector

 

40. India can boost container cargo traffic

https://www.thehindubusinessline.com/opinion/india-can-boost-container-cargo-traffic/article65408341.ece

 

41. Is India's exports growth momentum sustainable?

https://www.business-standard.com/podcast/economy-policy/is-india-s-exports-growth-momentum-sustainable-122051000090_1.html

 

42. Outward FDI nearly halves to $3.39 billion in April, says RBI data

https://www.business-standard.com/article/economy-policy/outward-fdi-nearly-halves-to-3-39-billion-in-april-says-rbi-data-122051001267_1.html

 

43. India, Oman agree to have joint feasibility study on limited trade deal

https://www.business-standard.com/article/economy-policy/india-oman-agree-to-have-joint-feasibility-study-on-limited-trade-deal-122051200020_1.html

 

44. Forex reserves fall by $28.05 bn in Sep 2021-Mar 2022 period: RBI report

https://www.business-standard.com/article/economy-policy/forex-reserves-fall-by-28-05-bn-in-sep-2021-mar-2022-period-rbi-report-122051201526_1.html

 

45. India wants WTO to play its role in containing global inflation

https://economictimes.indiatimes.com/news/economy/foreign-trade/india-wants-wto-to-play-its-role-in-containing-global-inflation/articleshow/91523599.cms

 

46. Outward FDI nearly halves to USD 3.39 bn in April

https://economictimes.indiatimes.com/news/economy/finance/outward-fdi-nearly-halves-to-usd-3-39-bn-in-april/articleshow/91472108.cms

 

47. Share of gold in the forex reserves rises to 7%

https://economictimes.indiatimes.com/news/economy/finance/share-of-gold-in-the-forex-reserves-rises-to-7/articleshow/91523107.cms

 

48. Cotton textile exports in 2021-22 touch $15.29 billion

https://www.thehindu.com/business/Economy/cotton-textile-exports-in-2021-22-touch-1529-billion/article65400601.ece

 

49. India to send trade delegations to nine countries to boost wheat exports

https://theprint.in/economy/india-to-send-trade-delegations-to-nine-countries-to-boost-wheat-exports/953402/

5. Agriculture and Rural Economy

 

50. Tapping India’s wheat export potential

https://www.thehindubusinessline.com/opinion/tapping-indias-wheat-export-potential/article65398830.ece

 

51. Potato prices likely to rule firm as weather plays truant

https://www.thehindubusinessline.com/economy/agri-business/potato-prices-likely-to-rule-firm-as-weather-plays-truant/article65397905.ece

 

52. India sells record 1.4 million tonne wheat in April, could export 1.5 MT in May

https://economictimes.indiatimes.com/news/economy/foreign-trade/india-sells-record-1-4-million-tonne-wheat-in-april-could-export-1-5-mt-in-may/articleshow/91476484.cms

 

53. NABARD sanctioned Rs 9700 cr for projects in Assam in FY22

https://economictimes.indiatimes.com/news/economy/agriculture/nabard-sanctioned-rs-9700-cr-for-projects-in-assam-in-fy22/articleshow/91507287.cms

 

54. 75 Indian villages to be shaped with Israeli cooperation: Agriculture minister Narendra Singh Tomar

https://economictimes.indiatimes.com/news/economy/agriculture/75-indian-villages-to-be-shaped-with-israeli-cooperation-agriculture-minister-narendra-singh-tomar/articleshow/91511003.cms

 

55. India’s ambition to ‘feed the world’ has jacked up wheat prices at home

https://scroll.in/article/1023698/indias-ambition-to-feed-the-world-has-jacked-up-wheat-prices-at-home

 

6. Industry, Manufacturing, Services and Technology

 

56. Gross bank credit up 8.2% in FY22

https://www.thehindubusinessline.com/economy/hospitality-tourism-gross-bank-credit-rises-82-in-march-fy22/article65391661.ece#:~:text=The%20gross%20bank%20credit%20deployment,industry%20had%20faced%20post%2DCovid.

 

57. Targeting stimulus schemes for small businesses

https://www.thehindubusinessline.com/opinion/targeting-stimulus-schemes-for-small-businesses/article65402076.ece

 

58. Informal sector — the perception and the data

https://www.thehindubusinessline.com/opinion/informal-sector-the-perception-and-the-data/article65407343.ece

 

 

 

59. Govt to set up panel on RERA non-compliance

https://economictimes.indiatimes.com/news/economy/infrastructure/govt-to-set-up-panel-on-rera-non-compliance/articleshow/91452046.cms

 

60. Government aims to build 18,000 km of highways in FY23: Gadkari

https://economictimes.indiatimes.com/news/economy/infrastructure/government-aims-to-build-18000-km-of-highways-in-fy23-gadkari/articleshow/91519502.cms

 

61. Factory output grew 1.9 per cent in March

https://economictimes.indiatimes.com/news/economy/indicators/factory-output-grew-1-9-per-cent-in-march/articleshow/91518924.cms

 

7. Other Articles/ Columns

 

• Ideas for India

 

62. Can access to finance spur entrepreneurship in Indian informal sector?

https://www.ideasforindia.in/topics/money-finance/can-access-to-finance-spur-entrepreneurship-in-indian-informal-sector.html

 

63. The impact of displacement on women’s marriage outcomes: Evidence from the partition of India

https://www.ideasforindia.in/topics/social-identity/the-impact-of-displacement-on-women-s-marriage-outcomes-evidence-from-the-partition-of-india.html

 

• EPW

 

Commentary

 

64. A Case Study of West Bengal

Pandemic and Delayed Payments under MGNREGS

https://www.epw.in/journal/2022/19/commentary/pandemic-and-delayed-payments-under-mgnregs.html

 

65. A Comment on Recent Policy Changes for Selected Sectors

India’s Trade Policy and GVCs

https://www.epw.in/journal/2022/19/commentary/indias-trade-policy-and-gvcs.html

 

Perspectives

 

66. Crimes against Women in Indian Metropolitan Cities

https://www.epw.in/journal/2022/19/perspectives/crimes-against-women-indian-metropolitan-cities.html

 

 

67. 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

 

68. Results from a Multistate Survey of Sex Workers

Sex Work, COVID-19, and Half-truths

https://www.epw.in/journal/2022/19/special-articles/sex-work-covid-19-and-half-truths.html

 

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

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

 

• Project Syndicate

 

70. The Billionaire Raj?

https://www.project-syndicate.org/commentary/india-income-and-wealth-inequality-no-cause-for-alarm-by-amit-tyagi-2022-05?a_la=english&a_d=6278df81a21c75af1b023dba&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=india-income-and-wealth-inequality-no-cause-for-alarm-by-amit-tyagi-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

71. The Fed Waves Its Wand

https://www.project-syndicate.org/commentary/fed-rate-hike-provides-cover-for-inflation-hawks-by-james-k-galbraith-2022-05?a_la=english&a_d=62790206a21c75af1b7bdd80&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=fed-rate-hike-provides-cover-for-inflation-hawks-by-james-k-galbraith-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

72. A Better Globalization Might Rise from Hyper-Globalization’s Ashes

https://www.project-syndicate.org/commentary/after-hyperglobalization-national-interests-open-economy-by-dani-rodrik-2022-05?a_la=english&a_d=627900eca21c75af1b782250&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=after-hyperglobalization-national-interests-open-economy-by-dani-rodrik-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

73. Good Inflation News from the Bond Market

https://www.project-syndicate.org/commentary/bond-market-medium-term-inflation-currently-on-target-by-j-bradford-delong-2022-05?a_la=english&a_d=627bab38cd449344981153e0&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=bond-market-medium-term-inflation-currently-on-target-by-j-bradford-delong-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

74. The Great Inflation Trade-Off

https://www.project-syndicate.org/commentary/central-banks-combat-inflation-economic-cost-by-hippolyte-fofack-2022-05?a_la=english&a_d=627cfa66c95a36aa3b8c49d6&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=central-banks-combat-inflation-economic-cost-by-hippolyte-fofack-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

75. To Fight Inflation, Fight Protectionism

https://www.project-syndicate.org/commentary/fight-inflation-by-reducing-protectionism-by-pinelopi-koujianou-goldberg-2022-05?a_la=english&a_d=627d1900c95a36aa3b25f848&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=fight-inflation-by-reducing-protectionism-by-pinelopi-koujianou-goldberg-2022-05&a_pa=section-commentaries&a_ps=&a_ms=&a_r=&barrier=accesspaylog

 

• The Economist

 

76. The crypto infrastructure cracks

https://www.economist.com/finance-and-economics/2022/05/12/the-crypto-infrastructure-cracks

 

77. Russia is on track for a record trade surplus

https://www.economist.com/finance-and-economics/2022/05/13/russia-is-on-track-for-a-record-trade-surplus

 

78. China’s extraordinary export boom comes to an end

https://www.economist.com/finance-and-economics/2022/05/14/chinas-extraordinary-export-boom-comes-to-an-end

 

79. Digital payments have gone viral in Brazil

https://www.economist.com/finance-and-economics/2022/05/14/digital-payments-have-gone-viral-in-brazil

 

80. Which housing markets are most exposed to the coming interest-rate storm?

https://www.economist.com/finance-and-economics/which-housing-markets-are-most-exposed/21809217

 

81. The world needs a new economic motor. Could India fit the bill?

https://www.economist.com/finance-and-economics/2022/05/14/the-world-needs-a-new-economic-motor-could-india-fit-the-bill

 

82. Even outside America, inflation is starting to look entrenched

https://www.economist.com/finance-and-economics/even-outside-america-inflation-is-starting-to-look-entrenched/21809225

 

 

 

8. News on Kerala

 

83. Centre acts tough on borrowings, Kerala in a tight spot

https://www.thehindu.com/news/national/kerala/centre-acts-tough-on-borrowings-kerala-in-a-tight-spot/article65407671.ece

 

84. Centre told to reduce tariff, non-tariff barriers

https://www.thehindu.com/news/national/kerala/centre-told-to-reduce-tariff-non-tariff-barriers/article65404758.ece

 

85. Kerala reluctantly warms to NEP 2020 reforms

https://www.thehindu.com/news/national/kerala/kerala-reluctantly-warms-to-nep-2020-reforms/article65398166.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