IMF Cuts India’s Growth Forecast, Still Fastest Growing Economy: 10 Facts

In its previous outlook released in July for India, IMF had projected 7 per cent growth. India’s growth forecast has been slashed by the International Monetary Fund or IMF for the year 2019-20, however the country still retains its rank as the world’s fastest-growing major economy, tying with China. “India’s economy is set to grow … Read moreIMF Cuts India’s Growth Forecast, Still Fastest Growing Economy: 10 Facts

Ravi Shankar Prasad withdraws Bollywood economics comment

Union minister Ravi Shankar Prasad at BJP office in Mumbai. (Express photo: Nirmal Harindran) Union Law Minister Ravi Shankar Prasad Sunday withdrew his comments in which he had claimed that three movies earning Rs 120 crore in a single day suggested that the economy was “sound”. Taking to Twitter, Prasad issued a press statement saying … Read moreRavi Shankar Prasad withdraws Bollywood economics comment

Growth not my baby, says the RBI

The Monetary Policy Committee has cut the repo rate by 25 basis points; not 35, as they did the last time around in August, not 50 basis points as some enthusiasts have been urging. This effectively says, look, buddy, I would help you if I could, and here is 25 basis points so you know … Read moreGrowth not my baby, says the RBI

Is low inflation the culprit for India’s economic woes?

By Abheek Barua The relatively sparse attention paid to the role of past monetary policy mistakes in understanding the roots of the current slowdown is surprising. A closer scrutiny of recent monetary history offers better clues to the growth puzzle than hypotheses like demand saturation or changing consumption habits of millennials. Also, the tenure of … Read moreIs low inflation the culprit for India’s economic woes?

CRISIL cuts GDP growth to 6.3% in fiscal 2020

Rating agency CRISIL on Wednesday cut India’s fiscal year 2020 GDP growth forecast to 6.3% from its earlier forecast of 6.9%, after the economy grew 5% in the first quarter, it’s slowest in almost 6 years. The agency said that lower GDP growth forecast corroborates that India’s economic slowdown is deeper and more broad-based than … Read moreCRISIL cuts GDP growth to 6.3% in fiscal 2020

View: The growth grind-down is a fallout of policy blunders and failure to revive public funding

By Abheek Barman One day Raja Krishnachandra, the 18th-century zamindar of Krishnanagar, Nadia, in today’s West Bengal, decided he wanted a Lake of Milk to be spun into sweetmeats for his people to eat and sell far and wide, spreading happiness and wealth. Earthworks complete, Krishnachandra said that on new moon night, each householder should … Read moreView: The growth grind-down is a fallout of policy blunders and failure to revive public funding

CEA Krishnamurthy Subramanian admits India is showing signs of slowdown

Commenting on the GDP growth number released today, Chief Economic Expect Krishnamurthy Subramanian today said India’s GDP, while still high, has shown signs of slowdown. Subramanian attributed ‘endogenous and exogenous’ factors like deceleration in developed economies, trade conflict as some reasons behind this slowdown. India’s GDP expanded 5 per cent in the first quarter of … Read moreCEA Krishnamurthy Subramanian admits India is showing signs of slowdown

Before GDP Data Due Today, Here Are 10 Things To Know About Economy

A downturn in Asia’s third-largest economy is denting sales of everything from cars to clothing The government will release data on gross domestic product (GDP) for the quarter ended June 30 today. Many economists expect the data to show that the expansion in India’s GDP slowed for a fifth quarter in a row. According to … Read moreBefore GDP Data Due Today, Here Are 10 Things To Know About Economy

Muted GDP growth in April-June quarter expected

NEW DELHI: With most indicators pointing to weak domestic demand and tepid investment climate, India‘s gross domestic product (GDP) is expected to slip further in April-June quarter of current fiscal. Ahead of official release of GDP numbers, most research firms have predicted muted growth in the previous quarter and have revised downward their forecast for … Read moreMuted GDP growth in April-June quarter expected

India’s Growth May Slow Down To 5.7% In April-June: Nomura

The economy, however, is expected to see some recovery in the July-September quarter, the report said. Mumbai:  India’s economic growth is likely to slow down further to 5.7 per cent in the April-June quarter of this year due to low consumption, weak investments and an under-performing service sector, said a Nomura report. The economy, however, … Read moreIndia’s Growth May Slow Down To 5.7% In April-June: Nomura

View: The devil of economic slowdown is not in the macro, but in the micro

By R Jagannathan The answer to where the economy is headed is simple. When the broad stance of the Narendra Modi government has been to reset and reform the old ways of doing business, the short- to medium-term economic consequences cannot but be deflationary, for disruptions act as speed-breakers to economic activity. You cannot grow … Read moreView: The devil of economic slowdown is not in the macro, but in the micro

Arvind Subramanian Sticks To Claim Of India Overestimating GDP Growth

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“Is it possible these large adverse shocks had such little impact on GDP growth?” Arvind Subramanian said New Delhi:  Sticking to his analysis that India’s economic growth has been overestimated, Arvind Subramanian said he had raised doubts about the GDP numbers in 2015 when he was the chief economic adviser of the Modi government as … Read moreArvind Subramanian Sticks To Claim Of India Overestimating GDP Growth

Former CEA rubbishes government arguments; sticks to claim of India overestimating GDP growth

NEW DELHI: Sticking to his analysis that India’s economic growth has been overestimated, Arvind Subramanian said he had raised doubts about the GDP numbers in 2015 when he was the chief economic adviser of the Modi government as he found inconsistency between projected growth and other macro indicators. In a new paper ‘Validating India’s GDP … Read moreFormer CEA rubbishes government arguments; sticks to claim of India overestimating GDP growth

Arvind Subramanian defends his GDP overestimation argument

Defending his argument that India’s GDP growth overestimated by 2.5%, former Chief Economic Advisor (CEA) Arvind Subramanian said that he had used a specific framework to validate GDP from demand side. He also said that tools like GDP deflator could have been underestimated. Lending more credence to his GDP argument, he said that no country … Read moreArvind Subramanian defends his GDP overestimation argument

View: Improving legal system is the best investment India can make

By Sanjeev Sanyal The prime minister has set out a clear vision for a $5 trillion economy by 2024-25, a nominal GDP of Rs 375 lakh crore. In turn, this requires sustaining a real GDP growth rate of 8% a year. What are the ingredients of a model that can generate such growth? The overwhelming … Read moreView: Improving legal system is the best investment India can make

Budget 2019 needs to give the economy a much needed stimulus

Faltering GDP growth, a consumption slowdown, a truant monsoon that has already hit kharif sowing, global trade tensions and a freeze in the credit market that has set alarm bells ringing across the financial system. This is the backdrop to the maiden Budget of the Finance Minister, Nirmala Sitharaman. Walking a tightrope The Minister has … Read moreBudget 2019 needs to give the economy a much needed stimulus

Statsguru: Does former CEA Subramanian has his facts right on GDP numbers?

steel, manufacturing

Last week, former chief economic advisor Arvind Subramanian wrote in a research paper that India’s gross domestic product actually grew at 4.5 per cent (real) in 2011-17, rather than the 6.9 per cent growth visible in official government numbers. Subramanian contends in his paper that real sector indicators show a considerable slowing down in the … Read moreStatsguru: Does former CEA Subramanian has his facts right on GDP numbers?

New Signs That India’s Economy – and Credibility – Is In Crisis

The government has long claimed that India is one of the fastest-growing large economies in the world. That boast was a crucial part of the ruling party’s message in the country’s recent election campaign – that, under Prime Minister Narendra Modi, the economy was in safe hands. Competence and sincerity as an economic manager is … Read moreNew Signs That India’s Economy – and Credibility – Is In Crisis

Arvind Subramanian’s growth estimates omit productivity, quality: CII

Joining the debate on overestimation of the GDP, industry chamber CII on Wednesday said growth estimates shown by former CEA Arvind Subramanian have omitted productivity and quality and are based on only volume. In a research paper, Subramanian, who stepped down last year, has said India’s economic growth rate has been overestimated by around 2.5 … Read moreArvind Subramanian’s growth estimates omit productivity, quality: CII

Economic Advisory Council To PM Reacts To Arvind Subramanian: Full Text

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Arvind Subramanian has used cross-country regressions to estimate what India’s GDP should be. New Delhi:  The government today said it will come up with a “point-to-point rebuttal” after a detailed examination of the estimates made in the paper of its former Economic Advisor Arvind Subramanian. Here is the full text of the statement by PM’s … Read moreEconomic Advisory Council To PM Reacts To Arvind Subramanian: Full Text

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