Weekly Updates on the Indian Economy

(28/11/2020 to 04/12/2020)

1. National Accounts and State of the Economy

 

1. Stepping out of the shadow of India’s malnutrition

https://www.thehindu.com/todays-paper/tp-opinion/stepping-out-of-the-shadow-of-indias-malnutrition/article33197432.ece

 

2. GDP contraction less sharp at 7.5% in Q2, but economy in recession

https://www.thehindubusinessline.com/economy/gdp-contraction-less-sharp-at-75-in-q2-but-economy-in-recession/article33195756.ece

 

3. New norms cap cab aggregator fee at 20% of fare, drivers to get 80%

https://www.thehindubusinessline.com/economy/logistics/govt-issues-comprehensive-guidelines-for-aggregator-service/article33193395.ece

 

4. The alarming rise in education costs in New India

https://www.thehindubusinessline.com/opinion/columns/c-p-chandrasekhar/the-alarming-rise-in-education-costs-in-new-india/article33215181.ece

 

5. On the road to V-shaped economic recovery, where does India stand

https://www.business-standard.com/article/economy-policy/on-the-road-to-v-shaped-economic-recovery-where-does-india-stand-120112800058_1.html

 

6. Speed of economic recovery a 'pleasant surprise': Niti Aayog's Rajiv Kumar

https://www.business-standard.com/article/economy-policy/speed-of-economic-recovery-a-pleasant-surprise-niti-aayog-s-rajiv-kumar-120112701277_1.html

 

7. Q2 GDP impact: Experts scale up full-year projections for FY21

https://www.business-standard.com/article/economy-policy/q2-gdp-impact-experts-scale-up-projections-for-fy21-120112900502_1.html

 

8. State of the economy: Entering technical recession but recovering

https://www.business-standard.com/article/economy-policy/state-of-the-economy-entering-technical-recession-but-recovering-120113000022_1.html

 

9. S&P retains India's GDP forecast at 9% contraction for current fiscal

https://www.business-standard.com/article/pti-stories/s-p-retains-india-s-growth-forecast-at-9-per-cent-this-fiscal-120113000678_1.html

 

10. Farms to factories and back

https://www.business-standard.com/article/opinion/farms-to-factories-and-back-120113000977_1.html

 

11. India's 10-year growth one of the biggest laggards in Asia, EM peers

https://www.business-standard.com/article/economy-policy/india-s-10-year-growth-one-of-the-biggest-laggards-in-asia-em-peers-120113001325_1.html

 

12. OECD cuts India's FY21 GDP contraction rate to 9.9% from 10.2% earlier

https://www.business-standard.com/article/economy-policy/oecd-cuts-india-s-fy21-gdp-contraction-rate-to-9-9-from-10-2-earlier-120120101096_1.html

 

13. After festive season boost, key economic indicators show declining signs

https://www.business-standard.com/article/economy-policy/after-festive-season-boost-key-economic-indicators-show-declining-signs-120120200020_1.html

 

14. Conditions to improve for India Inc in 2021 as economy revives: Moody's

https://www.business-standard.com/article/economy-policy/conditions-to-improve-for-india-inc-in-2021-as-economy-revives-moody-s-120120200362_1.html

 

15. Why India’s GDP contracting by 7.5% is earning some cheers – even as others ring alarm bells

https://scroll.in/article/979995/why-indias-gdp-contracting-by-7-5-is-earning-some-cheers-even-as-others-ring-alarm-bells

 

16. Pandemic's Economic Effects Persist on Ground as Families Continue to Struggle for Jobs, Food

https://thewire.in/rights/covid-19-economy-jobs-food-security

 

17. 'GDP to Shrink Over 10% by March, India Faces Financial Crisis and Likely Investment Crisis'

https://thewire.in/economy/pronab-sen-india-covid-recovery-shrinking-gdp

 

18. Amid An Important Farmer Debate, Don't Forget the Woes of India's Landless Workers

https://thewire.in/agriculture/landless-farmers-rural-workers

 

19. Questionable data, little room for exuberance

https://www.thehindu.com/todays-paper/tp-opinion/questionable-data-little-room-for-exuberance/article33235549.ece

 

20. Fiscal support can contain GDP contraction

https://www.thehindubusinessline.com/opinion/fiscal-support-can-contain-gdp-contraction/article33233731.ece

 

21. Optimistic about revival in Q3, says FinMin in monthly economic review

https://www.business-standard.com/article/economy-policy/optimistic-about-revival-in-q3-says-finmin-in-monthly-economic-review-120120300624_1.html

 

22. Economy firmly on the path of a V-shaped recovery, says govt.

https://www.thehindu.com/todays-paper/tp-business/economy-firmly-on-the-path-of-a-v-shaped-recovery-says-govt/article33244682.ece

 

23. After being hit by pandemic, Indian economy now recovering gradually: IMF

https://www.business-standard.com/article/economic-revival/after-being-hit-by-pandemic-indian-economy-now-recovering-gradually-imf-120120301477_1.html

 

24. Economy to contract at 7.5 per cent for FY21 due to Covid-19 impact: RBI

https://www.business-standard.com/article/economy-policy/economy-to-contract-at-7-5-pc-for-fy21-due-to-covid-19-impact-rbi-120120400350_1.html

 

25. Price controls must be resisted even in times of inflation

https://www.livemint.com/opinion/columns/price-controls-must-be-resisted-even-in-times-of-inflation-11606752854367.html

 

26. The Indian economic recovery seems led by profits, not wages

https://www.livemint.com/opinion/columns/the-indian-economic-recovery-seems-led-by-profits-not-wages-11606837662569.html

 

27. Opinion | How platform-based gig economy can generate millions of jobs

https://www.livemint.com/opinion/online-views/opinion-how-platform-based-gig-economy-can-generate-millions-of-jobs-11606726023369.html

 

2. Public Finance

 

28. At ₹9.53-lakh crore, fiscal deficit for April-Oct touches 120% of Budget Estimate

https://www.thehindubusinessline.com/economy/fiscal-deficit-for-april-oct-touches-120-of-budget-estimate/article33193484.ece

 

29. India's experience with revenue-share model is not good. How to fix it?

https://www.business-standard.com/article/economy-policy/india-s-experience-with-revenue-share-model-is-not-good-how-to-fix-it-120112701442_1.html

 

30. Little co-relation between health spend and Covid-related results: Ind-Ra

https://www.business-standard.com/article/economy-policy/little-co-relation-between-health-spend-and-covid-related-results-ind-ra-120113000635_1.html

 

31. Organised F&G retail's FY21 revenue expected to decline by 5-10%: Ind-Ra

https://www.business-standard.com/article/economy-policy/organised-f-g-retail-s-fy21-revenue-expected-to-decline-by-5-10-ind-ra-120113001203_1.html

 

32. India's next Budget to focus on boosting growth, says FM Sitharaman

https://www.business-standard.com/article/economy-policy/india-s-next-budget-to-focus-on-boosting-growth-says-fm-sitharaman-120120301378_1.html

 

33. Just how much debt is too much for any country to safely issue?

https://www.livemint.com/opinion/online-views/just-how-much-debt-is-too-much-for-any-country-to-safely-issue-11606836241385.html

 

Taxation

34. GST inflows top ₹1 lakh cr. for second month in a row

https://www.thehindu.com/todays-paper/gst-inflows-top-rs-1-lakh-cr-for-second-month-in-a-row/article33226245.ece

 

35. GST collections in November 1.4% higher than revenue collected in same month last year

https://scroll.in/latest/979983/gst-collections-at-rs-1-04-lakh-crore-in-november

 

36. Chhattisgarh opts for special window for GST compensation; Jharkhand left

https://www.business-standard.com/article/economy-policy/chhattisgarh-opts-for-special-window-for-gst-compensation-jharkhand-left-120120300543_1.html

 

3. Banking and Monetary policy

 

37. Why business barons should not run banks

https://www.thehindu.com/todays-paper/tp-opinion/why-business-barons-should-not-run-banks/article33226146.ece

 

38. How much will banks’ NPAs rise once loan moratorium, restructuring end?

https://www.thehindubusinessline.com/data-stories/data-focus/how-much-will-banks-npas-rise-once-the-loan-moratorium-restructuring-end/article33195408.ece

 

39. Bank credit to industry recorded negative growth in Oct, says RBI

https://www.thehindubusinessline.com/money-and-banking/bank-credit-to-industry-recorded-negative-growth-in-october-rbi/article33194339.ece

 

40. Corporate-owned banks need regulatory shift

https://www.thehindubusinessline.com/opinion/corporate-owned-banks-need-regulatory-shift/article33195296.ece

 

41. As RBI continues to buy dollars, rupee falls even as most Asian currencies rise

https://www.thehindubusinessline.com/portfolio/news-analysis/as-rbi-continues-to-buy-dollars-rupee-falls-even-as-most-asian-currencies-rise/article33207040.ece

 

42. Saving India’s vintage private sector banks

https://www.thehindubusinessline.com/opinion/saving-indias-vintage-private-sector-banks/article33206253.ece

 

43. ‘MPC likely to keep rates steady’

https://www.thehindubusinessline.com/money-and-banking/mpc-likely-to-keep-rates-steady/article33205554.ece

 

44. RBI likely to pause rate this fiscal, take call on liquidity surplus

https://www.business-standard.com/article/economy-policy/rbi-likely-to-pause-rate-this-fiscal-take-call-on-liquidity-surplus-120113000039_1.html

 

45. Look beyond rate cut to boost credit flow

https://www.thehindubusinessline.com/opinion/look-beyond-rate-cut-to-boost-credit-flow/article33233880.ece

 

46. RBI likely to keep rates unchanged amid high inflation, signs of recovery

https://www.business-standard.com/article/economy-policy/rbi-likely-to-keep-rates-unchanged-amid-high-inflation-signs-of-recovery-120120300109_1.html

 

47. GDP, inflation forecast for FY21 could see upward revision as RBI reviews monetary policy

https://theprint.in/economy/gdp-inflation-forecast-for-fy21-could-see-upward-revision-as-rbi-reviews-monetary-policy/555825/

 

48. Is value of digital payments keeping pace with number of transactions?

https://www.thehindubusinessline.com/data-stories/data-focus/is-value-of-digital-payments-keeping-pace-with-number-of-transactions/article33243403.ece

 

49. RBI keeps repo rate unchanged at 4%; maintains accommodative stance

https://www.business-standard.com/article/economy-policy/rbi-keeps-repo-rate-unchanged-at-4-maintains-accommodative-stance-120120400140_1.html

 

50. RBI's move to keep key interest rates steady was expected, experts say

https://www.business-standard.com/article/economy-policy/rbi-s-move-to-keep-key-interest-rates-steady-was-expected-experts-say-120120400341_1.html

 

51. RBI policy: Clearly more sanguine on growth, but cautious on inflation

https://www.business-standard.com/article/opinion/rbi-policy-clearly-more-sanguine-on-growth-but-cautious-on-inflation-120120400344_1.html

 

52. RBI pegs retail inflation at 6.8 percent for the December quarter

https://www.business-standard.com/article/pti-stories/rbi-projects-6-8-pc-retail-inflation-in-december-quarter-120120400385_1.html

 

53. RBI strengthens grievance redress framework of banks for better service

https://www.business-standard.com/article/economy-policy/rbi-strengthens-grievance-redress-framework-of-banks-for-better-service-120120400455_1.html

 

54. Opinion | RBI's test in an unconventional world

https://www.livemint.com/opinion/online-views/opinion-rbi-s-test-in-an-unconventional-world-11606913070381.html

 

55. Bitcoin is winning the covid-19 monetary revolution

https://www.livemint.com/industry/banking/bitcoin-is-winning-the-covid-19-monetary-revolution-11606702261798.html

 

56. Bank capital to fall in 2 years: Moody’s

https://www.livemint.com/industry/banking/bank-capital-to-fall-in-2-years-moody-s-11606789288375.html

 

57. RBI asks banks to retain profit, not make any dividend payment for FY20

https://www.livemint.com/industry/banking/rbi-asks-banks-to-retain-profit-not-make-any-dividend-payment-for-fy20-11607065518837.html

 

58. Central bank’s tone is likely to turn neutral

https://www.livemint.com/opinion/columns/central-bank-s-tone-is-likely-to-turn-neutral-11606790648373.html

 

59. Banking must expand rapidly to support India’s economic goals

https://www.livemint.com/opinion/online-views/banking-must-expand-rapidly-to-support-india-s-economic-goals-11606664932868.html

 

60. Bitcoin’s corona boom and the future of money

https://www.livemint.com/opinion/online-views/bitcoin-s-corona-boom-and-the-future-of-money-11606838352453.html

 

4. External Sector

 

61. FPIs’ net long positions raise red flag for the market

https://www.thehindubusinessline.com/markets/stock-markets/fpis-net-long-positions-raise-red-flag-for-the-market/article33206954.ece

 

62. FDI inflows double to $28 b in July-Sept quarter of FY21

https://www.thehindubusinessline.com/economy/fdi-inflows-double-in-the-july-sept-quarter-to-281-billion/article33199361.ece

 

63. Why foreign investors find stressed Indian firms attractive

https://scroll.in/article/979530/why-foreign-investors-find-stressed-indian-firms-attractive

 

64. Rupee strong from exports perspective, should depreciate a bit, says Raghuram Rajan

https://theprint.in/economy/rupee-strong-from-exports-perspective-should-depreciate-a-bit-says-raghuram-rajan/553457/

 

65. Exports plunge 17.84% in April-November

https://www.thehindubusinessline.com/economy/indias-exports-plunged-1784-in-april-november-commerce-secretary/article33233744.ece

 

66. Rejecting RCEP making it tough for India to raise exports: Experts

https://www.business-standard.com/article/economy-policy/rejecting-rcep-making-it-tough-for-india-to-raise-exports-experts-120120300030_1.html

 

67. China buys rice from India for first time in decades amid cross-border tensions: Report

https://scroll.in/latest/980094/china-buys-rice-from-india-for-first-time-in-decades-amid-cross-border-tensions-report

 

68. DRI to discuss trade-based money laundering with global peers on Friday

https://www.business-standard.com/article/economy-policy/dri-to-discuss-trade-based-money-laundering-with-global-peers-on-friday-120120301429_1.html

 

5. Agriculture and Rural Economy

 

69. The perils of deregulated imperfect agrimarkets

https://www.thehindu.com/todays-paper/tp-opinion/the-perils-of-deregulated-imperfect-agrimarkets/article33217347.ece

 

70. Agri exports jump driven mainly by rice, maize

https://www.thehindubusinessline.com/markets/commodities/agri-exports-jump-driven-mainly-by-rice-maize/article33194658.ece

 

71. Rabi sown area up 4% to 348 lakh hectare

https://www.thehindubusinessline.com/economy/agri-business/rabi-sown-area-up-4-up-to-348-lakh-hectare/article33194697.ece

 

72. After hiking fertiliser, Centre may now review food subsidy outlay

https://www.business-standard.com/article/economy-policy/after-hiking-fertiliser-centre-may-now-review-food-subsidy-outlay-120113001334_1.html

 

73. Delayed payments to rejection: MGNREGS workers spend money to collect wages

https://www.business-standard.com/article/economy-policy/delayed-payments-to-rejection-mgnregs-workers-spend-money-to-collect-wages-120120100180_1.html

 

74. Govt procures 31.8 mn tonnes of kharif paddy so far at MSP for Rs 60k cr

https://www.business-standard.com/article/economy-policy/govt-procures-31-8-mn-tonnes-of-kharif-paddy-so-far-at-msp-for-rs-60k-cr-120120101276_1.html

 

75. Three critical drivers that are lending colour to the farmers protest

https://www.business-standard.com/article/economy-policy/three-critical-drivers-that-are-lending-colour-to-the-farmers-protest-120120300827_1.html

 

76. Farm Laws: 'Time for Non-Farmers to Stand up, Be Counted,' Says P. Sainath

https://thewire.in/agriculture/farm-laws-time-for-non-farmers-to-stand-up-be-counted-says-p-sainath

 

77. Rubber prices stretch to 7-year high

https://www.thehindubusinessline.com/markets/commodities/rubber-prices-stretch-to-7-year-high/article33242715.ece

 

78. In farmers’ protests, the core is procurement

https://www.thehindu.com/todays-paper/tp-opinion/in-farmers-protests-the-core-is-procurement/article33244686.ece

 

79. Middleman matters: Behind Indian protests against farm reforms

https://www.livemint.com/industry/agriculture/middleman-matters-behind-indian-protests-against-farm-reforms-11606908597506.html

 

80. Farmer protests are a reflection of this sector’s structural crisis

https://www.livemint.com/opinion/columns/farmer-protests-are-a-reflection-of-this-sector-s-structural-crisis-11607010488456.html

 

6. Industry, Manufacturing, Services and Technology

                               

81. Core sector contraction widens to 2.5%

https://www.thehindu.com/business/Industry/core-sector-contraction-widens-to-25/article33195916.ece

 

82. ‘E-tailers clock $8.3 bn in Oct.-Nov.’

https://www.thehindu.com/business/Industry/e-tailers-clock-83-bn-in-oct-nov/article33195937.ece

 

83. SilverLine cost reasonable, NITI Aayog told

https://www.thehindu.com/news/cities/Thiruvananthapuram/silverline-cost-reasonable-kerala-submits/article33201854.ece

 

84. Q2 manufacturing rebound puzzles economists

https://www.thehindu.com/business/Economy/q2-manufacturing-rebound-puzzles-economists/article33201994.ece

 

85. Consumer spending to rebound in 2021: Fitch

https://www.thehindu.com/business/Economy/consumer-spending-to-rebound-in-2021-fitch/article33216192.ece

 

86. PMI shows manufacturing losing steam

https://www.thehindu.com/business/Industry/pmi-shows-manufacturing-losing-steam/article33224408.ece

 

87. October retail inflation for industrial workers increases to 5.91%

https://www.business-standard.com/article/economy-policy/october-retail-inflation-for-industrial-workers-increases-to-5-91-120112800649_1.html

 

88. ECLGS 2.0 'more than enough' to stabilise covid-hit firms: CRISIL

https://www.business-standard.com/article/economy-policy/eclgs-2-0-more-than-enough-to-stabilise-covid-hit-firms-crisil-120113001345_1.html

 

89. India's factory activity falters in November as Covid-19 fears persist: PMI

https://www.business-standard.com/article/economy-policy/india-s-factory-activity-falters-in-november-as-covid-19-fears-persist-pmi-120120100320_1.html

 

90. Commercial real estate in NCR may report growth in Oct-Dec on better demand

https://www.business-standard.com/article/economy-policy/commercial-real-estate-in-ncr-may-report-growth-in-oct-dec-on-better-demand-120120100430_1.html

 

91.  State-run oil firms spend 40% of capital expenditure target by October

https://www.business-standard.com/article/economy-policy/state-run-oil-firms-spend-40-of-capital-expenditure-target-by-october-120120200022_1.html

 

92. India’s diesel sales fall 7% in November after reaching pre-Covid levels in October

https://theprint.in/economy/indias-diesel-sales-fall-7-in-november-after-reaching-pre-covid-levels-in-october/555278/

 

93. Back to the basics of manufacturing

https://www.thehindubusinessline.com/opinion/back-to-the-basics-of-manufacturing/article33233761.ece

 

94. Services sector grows for second straight month, but rate falls in Nov: PMI

https://www.business-standard.com/article/economy-policy/services-sector-grows-for-second-straight-month-but-rate-falls-in-nov-pmi-120120300429_1.html

 

95. Time for India Inc to get aggressive

https://www.thehindubusinessline.com/opinion/columns/time-for-india-inc-to-get-aggressive/article33242501.ece

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

96. Opinion | In Praise of Janet Yellen the Economist

https://www.nytimes.com/2020/11/26/opinion/janet-yellen.html

 

97. Opinion | How Will Biden Deal With Republican Sabotage?

https://www.nytimes.com/2020/11/30/opinion/biden-republican-party.html

 

98. Opinion | Learn to Stop Worrying and Love Debt

https://www.nytimes.com/2020/12/03/opinion/biden-republicans-debt.html

 

8. Other Articles/ Columns

 

• The India Forum

 

99. The Time Is Right for an Urban Employment Guarantee Programme

https://www.theindiaforum.in/article/time-right-urban-employment-guarantee-programme

 

• The Economist

 

100. Why it is misleading to blame financial imbalances on a saving glut

https://www.economist.com/finance-and-economics/2020/11/28/why-it-is-misleading-to-blame-financial-imbalances-on-a-saving-glut

 

101. Is there an M&A boom coming?

https://www.economist.com/finance-and-economics/2020/11/28/is-there-an-m-and-a-boom-coming

 

102. Bad debts in China

https://www.economist.com/finance-and-economics/2020/11/28/bad-debts-in-china

 

• Economic and Political Weekly

 

Commentary

103. The COVID-19 Crisis

An Opportunity to Invest in Equitable Public Health Systems

https://www.epw.in/journal/2020/47/commentary/covid-19-crisis.html

 

104. Is the 14% Revenue Guarantee to States Justified?

https://www.epw.in/journal/2020/47/commentary/14-revenue-guarantee-states-justified.html

 

105. Will COVID-19 Change the Landscape of Financing Innovation in India?

https://www.epw.in/journal/2020/47/commentary/will-covid-19-change-landscape-financing.html

 

Special articles

106. Inflation Convergence and Anchoring of Expectations in India

https://www.epw.in/journal/2020/47/special-articles/inflation-convergence-and-anchoring-expectations.html

 

 

Print Sources: The Hindu, Business Line, Business Standard, Economic Times, Indian Express

Online: Livemint, Scroll.in, The Wire, The Print, The India Forum, Newyork Times

Journals:              Economic and Political Weekly, The Economist