25 - 31 January, 2020

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Weekly Updates on Indian Economy

(25th January 2020 to 31st January 2020)

 

National Accounts and state of the economy

  1. Understanding India’s Economic Slowdown: Need for Concerted Action

https://www.theindiaforum.in/article/understanding-india-s-economic-slowdown

  1. India’s Growth Slump Has Uniquely Domestic Causes. Modi’s Budget Must Address That

https://thewire.in/economy/india-growth-slump-domestic-causes-budget-2020

  1. India Could Be Passing Through Recession: Abhijit Banerjee

https://thewire.in/economy/india-economy-recession-abhijit-banerjee

  1. India Likely to Raise Import Duties on More Than 50 Items Next Week

https://thewire.in/government/india-likely-to-raise-import-duties-on-more-than-50-items-next-week

  1. The crisis that shattered India's economic dreams

https://www.livemint.com/news/india/the-crisis-that-shattered-india-s-economic-dreams-11580355009511.html

  1. Why real GDP may not capture growth accurately

https://www.livemint.com/news/india/why-real-gdp-may-not-capture-growth-accurately-11580203812864.html

  1. Is the worst over for Indian economy?

https://www.livemint.com/politics/policy/is-the-worst-over-for-indian-economy-11580194204642.html

  1. Is NSS right on consumption fall?

https://www.livemint.com/news/india/consumption-spending-may-not-have-fallen-in-india-new-survey-11580102985802.html

  1. Economic Survey likely to forecast 2020/21 growth at 6-6.5%, CEA K Subramanian to officially announce details today: Report

https://www.firstpost.com/business/economic-survey-likely-to-forecast-202021-growth-at-6-6-5-cea-k-subramanian-to-officially-announce-details-today-report-7982151.html

  1. Time to prioritise education and health
    https://www.thehindu.com/opinion/lead/time-to-prioritise-education-and-health/article30686474.ece
  2. Examining the slowdown
    https://www.thehindu.com/opinion/op-ed/examining-the-slowdown/article30677218.ece
  3. Calibrating the policy mix
    https://www.business-standard.com/article/opinion/calibrating-the-policy-mix-120012701733_1.html
  4. A radical reset for Indian economy
    https://www.business-standard.com/article/beyond-business/a-radical-reset-for-the-indian-economy-120012800012_1.html
  5. 8 to 9 percent GDP growth is key to achieving $5 trillion economy
    https://www.thehindubusinessline.com/economy/india-needs-to-clock-9-growth-over-5-years-to-achieve-a-5-trillion-economy-c-rangarajan/article30643573.ece

 

Union Budget 2020

  1. Budgetary overreach
    https://www.business-standard.com/article/opinion/budgetary-over-reach-there-is-a-price-for-fms-trying-to-do-too-much-120012401374_1.html
  2. Will Sitharaman slay NDA Govt’s economic demons?

https://www.livemint.com/opinion/columns/opinion-will-sitharaman-slay-nda-govt-s-economic-demons-11580058210758.html

  1. Toughest budget in a decade
    https://economictimes.indiatimes.com/news/et-explains/7-reasons-why-this-will-be-the-most-difficult-budget-in-a-decade/articleshow/73730119.cms?from=mdr
  2. Budget should generate long-term infra funds
    https://www.thehindubusinessline.com/opinion/budget-should-generate-long-term-infra-funds/article30685369.ece
  3. A Layman’s Guide to the Union Budget: What to Look out For, Even if FM's Speech is Silent About it

https://thewire.in/economy/a-laymans-guide-to-union-budget

  1. India Deserves a More Comprehensive Budget Process

https://thewire.in/economy/india-budget-process-comprehensive

  1. Budget 2020: What India Really Needs is A Booster Shot of Credibility

https://thewire.in/economy/union-budget-2020

  1. Why Nirmala Sitharaman Is Unlikely to Deliver a Budget that Will Boost Spending

https://thewire.in/economy/nirmala-sitharaman-budget-2020-fiscal-deficit

  1. Budget 2020: While Expectations Demand a Spending Boost, Will FM Bite the Bullet?

https://thewire.in/economy/budget-2020-while-expectations-demand-a-spending-boost-will-fm-bite-the-bullet

  1. Budget 2020's Big Question – Will Income Tax Rates be Cut?

https://thewire.in/economy/budget-2020s-big-question-will-income-tax-rates-be-cut

  1. Budget 2020 May See Even Official Fiscal Deficit Targets Loosened, but by How Much?

https://thewire.in/economy/budget-2020-fiscal-deficit-targets

  1. Union Budget 2020: Key things to watch for

https://www.livemint.com/budget/news/union-budget-2020-key-things-to-watch-for-11580453224114.html

 

  1. Finance ministry favours subsidy cuts to expand fiscal room

https://www.livemint.com/budget/news/finance-ministry-favors-subsidy-cuts-to-expand-fiscal-room-11580451825708.html

  1. Budget: When short on options, where do we go?

https://www.livemint.com/budget/news/budget-when-short-on-options-where-do-we-go-11580403223576.html

  1. Five ways budget can help India get out of an economic slump

https://www.livemint.com/budget/expectations/five-ways-budget-can-help-india-get-out-of-an-economic-slump-11580322544838.html

  1. Big budget question: what will be centre’s fiscal roadmap for 2020-21
    https://www.thehindubusinessline.com/economy/budget/big-budget-question-what-will-the-centres-fiscal-policy-be-in-2020-21/article30682877.ece
  2. Will budget 2020 will be populist?
    https://www.business-standard.com/article/opinion/will-budget-2020-be-populist-120012901896_1.html
  3. Needed: A boring budget
    https://www.business-standard.com/article/opinion/needed-a-boring-budget-120013000028_1.html
  4. Budget likely to unveil 2 mega agriculture initiatives
    https://economictimes.indiatimes.com/news/economy/agriculture/budget-may-unveil-2-mega-agri-initiatives/articleshow/73745756.cms
  5. Budget 2020: Three key tax reforms that markets expect

https://www.livemint.com/budget/expectations/budget-2020-three-key-tax-reforms-that-markets-expect-11580104994936.html

  1. Great expectations ride on the budget

https://www.livemint.com/market/mark-to-market/great-expectations-ride-on-the-budget-11580031197145.html

 

Public Finance

 

  1. Crackdown on GST Fraud: Do We Need Limits on When a Taxman Can Attach a Bank Account?

https://thewire.in/business/crackdown-gst-fraud-limits-taxman

  1. Don’t be deterred by the ‘crowding out’ effect of the fisc

https://www.livemint.com/opinion/online-views/don-t-be-deterred-by-the-crowding-out-effect-of-the-fisc-11580318925464.html

  1. A framework for how a fiscal response should be crafted

https://www.livemint.com/budget/opinion/a-framework-for-how-a-fiscal-response-should-be-crafted-11580230018919.html

  1. Govt expected to receive over Rs 39,500 cr under Sabka Vishwas Scheme; realisation a big booster amid revenue shortfall concerns

https://www.firstpost.com/business/govt-expected-to-receive-over-rs-39500-cr-under-sabka-vishwas-scheme-realisation-a-big-booster-amid-revenue-shortfall-concerns-7978681.html

  1. Oil Ministry pitches for inclusion of natural gas in GST to promote use of environment-friendly fuel

https://www.firstpost.com/business/oil-ministry-pitches-for-inclusion-of-natural-gas-in-gst-to-promote-use-of-environment-friendly-fuel-7973431.html

  1. GST collection in January likely to touch record Rs 1.15 lakh cr on efficient tax administration despite economic slowdown

https://www.firstpost.com/business/gst-collection-in-january-likely-to-touch-record-rs-1-15-lakh-cr-on-efficient-tax-administration-despite-economic-slowdown-7967221.html

  1. India’s fiscal experiments
    https://www.business-standard.com/article/opinion/india-s-fiscal-experiments-120013000032_1.html
  2. A taxing problem
    https://www.business-standard.com/article/opinion/a-taxing-problem-120013000019_1.html
  3. First fall in Direct Tax collection in two decades likely
    https://economictimes.indiatimes.com/news/economy/finance/india-faces-first-fall-in-direct-taxes-in-at-least-two-decades-sources/articleshow/73582140.cms?from=mdr
  4. Will Direct Tax dispute resolution scheme help?
    https://www.thehindubusinessline.com/opinion/columns/lokeshwarri-sk/will-a-direct-tax-dispute-resolution-scheme-help/article30685363.ece
  5. India’s much abused tax payers
    https://economictimes.indiatimes.com/news/economy/policy/view-indias-much-abused-taxpayers/articleshow/73757231.cms?from=mdr
  6. Potentially disruptive north-south divide
    https://www.business-standard.com/article/opinion/potentially-disruptive-north-south-divide-120012801757_1.html
  7. Centre’s fiscal deficit can go up to 6 percent
    https://www.thehindubusinessline.com/opinion/centres-fiscal-deficit-can-go-up-to-6/article30676842.ece
  8. The revenue impact of tax incentives
    https://www.thehindubusinessline.com/opinion/columns/statistalk/statistalk-the-revenue-impact-of-tax-incentives/article30676906.ece
  9. Don’t reduce devolution
    https://www.business-standard.com/article/opinion/don-t-reduce-devolution-120012701725_1.html
  10. Case for abolishing capital gains tax 
    https://economictimes.indiatimes.com/blogs/et-editorials/case-for-abolishing-capital-gains-tax/
  11. Government blocks Rs 40k crore GST claims on return mismatch
    https://timesofindia.indiatimes.com/business/india-business/government-blocks-rs-40000-crore-gst-claims-on-returns-mismatch/articleshow/73682209.cms
  12. Taxing the rich and helicopter economics
    https://www.newindianexpress.com/opinions/columns/shankkar-aiyar/2020/jan/26/taxing-the-rich-and-helicopter-economics-how-about-a-bharat-billionaires-etf-2094582.html
  13. Set aside fiscal prudence for now
    https://www.thehindubusinessline.com/opinion/columns/set-aside-fiscal-prudence-for-now/article30694797.ece

 

Industry, Manufacturing, Services and Technology

  1. Fear and loathing in India’s small factories

https://www.livemint.com/industry/manufacturing/fear-and-loathing-in-india-s-small-factories-11580232448058.html

  1. Let data on fiscal multipliers guide budget allocations

https://www.livemint.com/budget/opinion/let-data-on-fiscal-multipliers-guide-budget-allocations-11580142375800.html

  1. Budget 2020: Commodity participants body urges Govt to address high cost of trading in Indian markets

https://www.firstpost.com/business/budget-2020-commodity-participants-body-urges-govt-to-address-high-cost-of-trading-in-indian-markets-7968321.html

  1. Budget 2020: Reduce GST on bicycles to 5% from 12% to revive demand in rural markets, urges Hero Cycles

https://www.firstpost.com/business/budget-2020-reduce-gst-on-bicycles-to-5-from-12-to-revive-demand-in-rural-markets-urges-hero-cycles-7966801.html

  1. Our pharma regulator must wake up
    https://www.thehindubusinessline.com/opinion/our-pharma-regulator-must-wake-up/article30685546.ece
  2. Ease of doing business to climb industry ladder
    https://www.thehindu.com/news/national/kerala/ease-of-doing-business-to-climb-industry-ladder/article30687085.ece
  3. Companies cut CSR spending on national heritage by 56 percent
    https://www.moneycontrol.com/news/business/companies-slash-csr-spending-on-national-heritage-by-over-50-in-fy19-report-4880631.html
  4. Budget should look into telecom crisis
    https://www.thehindubusinessline.com/opinion/budget-should-look-into-telecom-crisis/article30676448.ece
  5. Towards a 1 trillion digital economy
    https://www.thehindubusinessline.com/economy/budget/towards-a-1-trillion-digital-economy/article30642587.ece

 

Agriculture and Rural Economy

  1. Widows of Farmers Seek Visibility in Budget, Want Formal Support System

https://thewire.in/agriculture/widows-farmers-budget-rehabilitation-package

  1. Almost 75% Farmers Did Not Get All 3 PM Kisan Instalments, a Year After Implementation 

https://thewire.in/economy/pm-kisan-farmers-instalments-modi-government

  1. MGNREGA Is Running Out of Funds. Will Budget 2020 Fix That?

https://thewire.in/labour/mgnrega-funds-budget-2020

  1. Room for income tax relief limited as collections may fall short

https://www.livemint.com/news/india/room-for-income-tax-relief-limited-as-tax-collection-may-fall-short-of-targets-11580017279798.html

  1. PM – KISAN fund allocation may be trimmed by 20 percent
    https://krishijagran.com/agriculture-world/budget-2020-pm-kisan-fund-allocation-could-be-cut-by-20-percent/
  2. For the rural poor: a manufactured crisis
    https://www.thehindu.com/opinion/lead/for-the-rural-poor-a-manufactured-crisis/article30695598.ece

 

Banking and Monetary Policy

  1. Banking sector is stressed, govt in no position to bail it out: Abhijit Banerjee

https://www.livemint.com/industry/banking/banking-sector-is-stressed-govt-in-no-position-to-bail-it-out-abhijit-banerjee-11580047239985.html

  1. Special relief package in the offing for NBFCs
    https://www.newindianexpress.com/business/2020/jan/30/special-relief-package-in-the-offing-for-nbfcs-2096497.html
  2. Growth of credit cards, personal loans trebles in five years
    https://www.thehindubusinessline.com/money-and-banking/growth-of-credit-cards-personal-loans-trebles-in-5-years/article30644983.ece
  3. RBI’s new norms on UCBs raise eyebrows
    https://www.thehindubusinessline.com/money-and-banking/rbis-new-norms-on-ucbs-raise-eyebrows/article30694516.ece
  4. Protecting bankers: Government should not lose sight of wider reforms in PSBs
    https://www.pressreader.com/india/business-standard/20200131/282029034208745

 

External Sector

  1. Coronavirus contagion could adversely impact India's trade, economy: Experts

https://www.livemint.com/news/india/coronavirus-contagion-could-adversely-impact-india-s-trade-economy-experts-11580441555855.html

  1. Fears rise that global economy will bear brunt of coronavirus

https://www.livemint.com/market/stock-market-news/fears-rise-that-global-economy-will-bear-brunt-of-coronavirus-11580234706114.html

  1. The continuing theme of uncertainty and volatility
    https://www.thehindu.com/opinion/lead/the-continuing-theme-of-uncertainty-volatility/article30677665.ece
  2. How much does India matter to the global economy
    https://timesofindia.indiatimes.com/business/india-business/how-much-does-india-matter-for-the-global-economy/articleshow/73767258.cms

 

Columns by Joseph Stiglitz and Paul Krugman

  1. World leaders talked the talk at Davos but we need some real change

https://www.theguardian.com/business/2020/jan/30/world-leaders-talked-the-talk-at-davos-but-we-need-some-real-change

  1. Greta versus the Greedy Grifters: Why a 17-year-old is a better economist than Steve Mnuchin.

https://www.nytimes.com/2020/01/27/opinion/greta-thunberg-mnuchin.html

  1. No, Team Trump, the Coronavirus Isn’t Good for America : The commerce secretary just flunked microbe economics.

https://www.nytimes.com/2020/01/30/opinion/coronavirus-jobs.html