Weekly Updates on the Indian Economy

(25/12/2021 to 31/12/2021)

1. National Accounts and State of the Economy

 

1. How to get the economy on the fast track

https://www.thehindubusinessline.com/opinion/how-to-get-the-economy-on-the-fast-track/article38050109.ece

 

2. Govt shopping for new Chief Economic Advisor

https://www.thehindubusinessline.com/news/govt-shopping-for-new-chief-economic-advisor/article38064342.ece

 

3. Economy likely to see steady growth in 2022

https://www.thehindubusinessline.com/opinion/economy-likely-to-see-steady-growth-in-2022/article38065884.ece

 

4. Food subsidy may drop 30% to ₹3.72-lakh cr in FY22

https://www.thehindubusinessline.com/economy/food-subsidy-may-drop-30-to-372-lakh-cr-in-fy-2021-22/article38071583.ece

 

5. How India can foster economic democracy

https://www.thehindubusinessline.com/opinion/how-india-can-foster-economic-democracy/article38073118.ece

 

6. Sunny days await job seekers as economic recovery hopes energise companies

https://www.business-standard.com/article/economy-policy/sunny-days-await-job-seekers-as-economic-recovery-hopes-energise-companies-121122700050_1.html

 

7. Decent growth expected in FY23, says MPC member Jayanth R Varma

https://www.business-standard.com/article/economy-policy/decent-growth-expected-in-fy23-says-mpc-member-jayanth-r-varma-121122700058_1.html

 

8. Indicators show Indian economy was growing steadily before Omicron hit

https://www.business-standard.com/article/economy-policy/indicators-show-indian-economy-was-growing-steadily-before-omicron-hit-121122800145_1.html

 

9. India's real GDP likely to maintain 9% growth rate in FY22, FY23: Report

https://www.business-standard.com/article/economy-policy/india-s-real-gdp-likely-to-maintain-9-growth-rate-in-fy22-fy23-report-121122800696_1.html

 

10. Central govt notifies new rules for enhancing consumer protection

https://www.business-standard.com/article/economy-policy/central-govt-notifies-new-rules-for-enhancing-consumer-protection-121123100116_1.html

 

11. Consumer sentiment likely to witness fall in December: CMIE

https://economictimes.indiatimes.com/news/economy/indicators/consumer-sentiment-likely-to-witness-fall-in-december-cmie/articleshow/88587267.cms

 

12. Omicron threatens near term economic prospects: RBI report

https://economictimes.indiatimes.com/news/economy/indicators/omicron-threatens-near-term-economic-prospects-rbi-report/articleshow/88572574.cms

 

13. Centre maps out the way to scale up financial inclusion

https://economictimes.indiatimes.com/news/economy/finance/centre-maps-out-the-way-to-scale-up-financial-inclusion/articleshow/88556928.cms

 

14. How India is wasting its potential demographic dividend

https://scroll.in/article/1013555/how-india-is-wasting-its-potential-demographic-dividend

 

15. Consumer redressal commissions can take up larger complaints as Centre notifies new rules

https://scroll.in/latest/1014051/consumer-redressal-commissions-can-take-up-larger-complaints-as-centre-notifies-new-rules

 

16. Where Do India's Tycoons Fit Into Modi's Blueprint for Economic Growth?

https://thewire.in/economy/india-tycoon-modi-economic-growth

 

17. Centre in final stages of developing system to extend subsidized foodgrains to homeless, destitute

https://theprint.in/economy/centre-in-final-stages-of-developing-system-to-extend-subsidized-foodgrains-to-homeless-destitute/791599/

 

18. ‘Every third informal worker is registered on e-Shram’

https://www.thehindu.com/business/Economy/every-third-informal-worker-is-registered-on-e-shram/article38036961.ece

 

19. Expect inflation-indexed annuities soon: Pension Fund body chief

https://www.thehindu.com/business/Economy/expect-inflation-indexed-annuities-soon/article38058572.ece

 

2. Public Finance

 

20. Fiscal stringency in a time of pandemic

https://www.thehindubusinessline.com/opinion/columns/c-p-chandrasekhar/fiscal-stringency-in-a-time-of-pandemic/article38050168.ece

 

21. At 6.6%, fiscal deficit likely to be 0.20% less than BE: IndRa

https://www.thehindubusinessline.com/news/national/fiscal-deficit-likely-to-be-66-020-less-than-budget-estimate/article38070211.ece

 

22. Assam's growth rate declines, fiscal deficit, debts rose in 2019-20: CAG

https://www.business-standard.com/article/economy-policy/assam-s-growth-rate-declines-fiscal-deficit-debts-rose-in-2019-20-cag-121122401296_1.html

 

23. Raise your share in centrally-sponsored schemes: States to FM Sitharaman

https://www.business-standard.com/budget/article/in-delhi-states-demand-extension-of-gst-compensation-for-another-5-years-121123001128_1.html

Taxation

 

24. ‘GST hike on footwears, textiles will render 15 lakh people jobless’

https://www.thehindubusinessline.com/economy/gst-hike-on-footwears-textiles-will-render-15-lakh-people-jobless-amit-mitra/article38031551.ece

 

25. GST of 12% may increase apparel prices by 6%, lead to job loss: Study

https://www.thehindubusinessline.com/economy/policy/gst-of-12-may-increase-apparel-prices-by-6-lead-to-job-loss-study/article38050597.ece

 

26. States press hard for GST compensation beyond June 2022

https://www.thehindubusinessline.com/economy/states-press-hard-for-gst-compensation-beyond-june-2022/article38073809.ece

 

27. Recovery of tax to be initiated only for unpaid self-assessed GST liability

https://www.thehindubusinessline.com/news/national/recovery-to-be-made-of-only-unpaid-self-assessed-gst-liability-says-cbic/article38070091.ece

 

28. Host of changes in GST law to come into effect from January 1, 2022

https://www.business-standard.com/article/economy-policy/host-of-changes-in-gst-law-to-come-into-effect-from-january-1-2022-121122600309_1.html

 

29. Govt extends FY21 GST annual return filing deadline till February 28

https://www.business-standard.com/article/economy-policy/govt-extends-fy21-gst-annual-return-filing-deadline-till-february-28-121123000274_1.html

 

30. States demand extension of GST compensation for another 5 years

https://www.business-standard.com/article/economy-policy/states-demand-extension-of-gst-compensation-for-another-5-years-121123000959_1.html

 

31. Not like children's books, learning kit books to attract GST: AAR

https://www.business-standard.com/article/economy-policy/not-like-children-s-books-learning-kit-books-to-attract-gst-aar-121123100038_1.html

 

32. FM Nirmala Sitharaman to chair 46th meeting of GST Council today

https://www.business-standard.com/article/economy-policy/fm-nirmala-sitharaman-to-chair-46th-meeting-of-gst-council-today-121123100100_1.html

 

33. A study pitches for reintroduction of wealth tax to address inequality

https://economictimes.indiatimes.com/news/economy/policy/a-study-pitches-for-reintroduction-of-wealth-tax-to-address-inequality/articleshow/88549599.cms

 

34. No GST on notice period pay, group insurance, phone bill: AAAR

https://economictimes.indiatimes.com/news/economy/policy/no-gst-on-notice-period-pay-group-insurance-phone-bill-aaar/articleshow/88481327.cms

 

35. GST evasion of ₹40,000 crore detected from fake invoicing, fraud claims

https://economictimes.indiatimes.com/news/economy/finance/gst-evasion-of-40000-crore-detected-from-fake-invoicing-itc-claims/articleshow/88603551.cms

 

36. GST Council Defers Implementation of Tax Rate Hike on Textiles

https://thewire.in/economy/gst-council-defers-implementation-of-tax-rate-hike-on-textiles

 

3. Banking and Monetary Policy

 

37. ‘Financial inclusion makes people more responsive to interest rates’

https://www.thehindubusinessline.com/money-and-banking/financial-inclusion-fosters-societal-intolerance-to-inflation-rbi-deputy-guv-patra/article38031598.ece

 

38. Mudra loan disbursals top pre-Covid levels

https://www.thehindubusinessline.com/money-and-banking/mudra-loan-disbursals-top-pre-covid-levels/article38044027.ece

 

39. Send DICGC to rescue troubled banks

https://www.thehindubusinessline.com/opinion/send-dicgc-to-rescue-troubled-banks/article38050054.ece

 

40. Gross NPAs of banks dipped to 6.9% by Sept; stress ahead, warns RBI

https://www.thehindubusinessline.com/money-and-banking/gross-npas-of-banks-dipped-to-69-by-sept-stress-ahead-warns-rbi/article38058163.ece

 

41. NPAs can spike to 9.5% by Sept in ‘severe stress scenario’

https://www.thehindubusinessline.com/money-and-banking/npas-can-spike-to-95-by-sept-in-severe-stress-scenario/article38066235.ece

 

42. Credit growth led by households as corporate demand slides: RBI

https://www.thehindubusinessline.com/money-and-banking/credit-growth-led-by-households-as-corporate-demand-slides-rbi/article38073830.ece

 

43. Banking sector set to witness significant reforms in the new year

https://www.business-standard.com/article/economy-policy/banking-sector-set-to-witness-significant-reforms-in-the-new-year-121122600694_1.html

 

44. RBI expresses doubts over govt meeting fiscal deficit targets

https://www.business-standard.com/article/economy-policy/rbi-expresses-doubts-over-govt-meeting-fiscal-deficit-targets-121122901321_1.html

 

45. India likely to break ranks with peers on unwinding easy monetary policy

https://economictimes.indiatimes.com/news/economy/policy/india-seen-breaking-ranks-with-peers-on-unwinding-easy-monetary-policy/articleshow/88558471.cms

 

46. Asset Reconstruction Company to quicken bad loan resolutions: RBI report

https://economictimes.indiatimes.com/news/economy/policy/asset-reconstruction-company-to-quicken-bad-loan-resolutions-rbi-report/articleshow/88548228.cms

 

47. RBI seen breaking ranks with global peers on unwinding easy monetary policy

https://theprint.in/economy/rbi-seen-breaking-ranks-with-global-peers-on-unwinding-easy-monetary-policy/790377/

 

48. RBL Bank’s financial health stable, says RBI; stock slides 18%

https://www.thehindu.com/business/Economy/rbl-banks-financial-health-stable-says-rbi-stock-slides-18/article38050858.ece

 

49. ‘Bank GNPAs may rise to 9.5% by September’

https://www.thehindu.com/business/Economy/bank-gnpas-may-rise-to-95-by-sept/article38066477.ece

 

4. External Sector

 

50. At $18.51 b in first 8 months of FY22 , India Inc’s overseas borrowing gathers momentum

https://www.thehindubusinessline.com/money-and-banking/at-51-b-in-first-8-months-of-fy22-india-incs-overseas-borrowing-gathers-momentum/article38050814.ece

 

51. Despite 26-day selling spree by FPIs, market holds steady

https://www.thehindubusinessline.com/markets/despite-26-day-selling-spree-by-fpis-market-holds-steady/article38066337.ece

 

52. India imposes antidumping duty on 5 Chinese goods for 5 years

https://www.business-standard.com/article/economy-policy/india-imposes-antidumping-duty-on-5-chinese-goods-for-5-years-121122600245_1.html

 

53. India's textile and apparel exports outshine pre-Covid numbers

https://www.business-standard.com/article/economy-policy/india-s-textile-and-apparel-exports-outshine-pre-covid-numbers-121122700053_1.html

 

54. Exporters keeping fingers crossed as Covid infections increase

https://www.business-standard.com/article/economy-policy/exporters-keeping-fingers-crossed-as-covid-infections-increase-121122700835_1.html

 

55. Exports rise 36% to $23.8 billion in first three weeks of December

https://www.business-standard.com/article/economy-policy/india-s-exports-up-36-at-23-8-bn-for-dec-1-21-helping-annual-target-121122700993_1.html

 

56. Bangladesh may become India's fourth largest export destination in FY22

https://www.business-standard.com/article/economy-policy/bangladesh-may-become-india-s-fourth-largest-export-destination-in-fy22-121122800026_1.html

 

57. Exporters across sectors are flushed with orders for next fiscal: FIEO

https://www.business-standard.com/article/economy-policy/exporters-across-sectors-are-flushed-with-orders-for-next-fiscal-fieo-121122901274_1.html

 

58. Allow foreign currency transactions in country via RBI, demands engineers body

https://economictimes.indiatimes.com/news/economy/policy/allow-foreign-currency-transactions-in-country-via-rbi-demands-engineers-body/articleshow/88588798.cms

 

5. Agriculture and Rural Economy

 

59. Will agri-biz model benefit farm sector?

https://www.thehindubusinessline.com/opinion/columns/will-agri-biz-model-benefit-farm-sector/article38031046.ece

 

60. Rabi coverage tops 600 lakh hectares

https://www.thehindubusinessline.com/economy/agri-business/rabi-coverage-tops-600-lakh-hectares/article38031879.ece

 

61. The pitfalls of legalising farm support prices

https://www.thehindubusinessline.com/opinion/the-pitfalls-of-legalising-farm-support-prices/article38043532.ece

 

62. Gujarat leads surge in agri exports

https://www.thehindubusinessline.com/data-stories/data-focus/gujarat-leads-surge-in-agri-exports-during-pandemic/article38064209.ece

 

63. On New Year’s Day, ₹20,000 crore will be credited to 10 crore farmers

https://www.thehindubusinessline.com/economy/agri-business/pm-kisan-govt-to-transfer-22000-cr-to-bank-accounts-of-about-11-cr-farmers-on-jan-1/article38060477.ece

 

64. Record foodgrains production likely in 2022 despite pandemic blues

https://www.business-standard.com/article/economy-policy/record-foodgrains-production-likely-in-2022-despite-pandemic-blues-121122800411_1.html

 

6. Industry, Manufacturing, Services and Technology

 

65. Base metals more precious than gold in 2021

https://www.thehindubusinessline.com/portfolio/technical-analysis/commodity-calls/base-metals-more-precious-than-gold-in-2021/article38038197.ece

 

66. Chip shortage, key hurdle in 2021

https://www.thehindubusinessline.com/companies/chip-shortage-key-hurdle-in-2021/article38050708.ece

 

67. Delay in 500+ infra projects escalates costs by 20%

https://www.thehindubusinessline.com/economy/delay-in-500-infra-projects-escalates-costs-by-20/article38058102.ece

 

68. Community buying picks up in rural India

https://www.thehindubusinessline.com/companies/community-buying-picks-up-in-rural-india/article38058264.ece

 

69. Why India’s airports haven’t taken off

https://www.thehindubusinessline.com/opinion/why-indias-airports-havent-taken-off/article38072992.ece

 

70. India online used car sales to reach 8.3 mn units by 2026: Report

https://www.business-standard.com/article/economy-policy/india-online-used-car-sales-to-reach-8-3-mn-units-by-2026-report-121122700297_1.html

 

71. Realtors on firm ground after tackling pandemic gloom; high hopes for 2022

https://www.business-standard.com/article/pti-stories/realtors-on-firm-ground-after-tackling-pandemic-gloom-hope-for-sunny-2022-with-better-sales-121122700256_1.html

 

72. 'Bright future' for Indian used cars market in pandemic: RedSeer report

https://www.business-standard.com/article/economy-policy/bright-future-for-indian-used-cars-market-in-pandemic-redseer-report-121122700676_1.html

 

73. Roads: Robust awarding to keep revenue in fast lane, says CRISIL analysis

https://www.business-standard.com/article/economy-policy/roads-robust-awarding-to-keep-revenue-in-fast-lane-says-crisil-analysis-121123000038_1.html

 

74. Niti Aayog vice chairman stresses on increasing bamboo supply to industries

https://www.business-standard.com/article/economy-policy/niti-aayog-vice-chairman-stresses-on-increasing-bamboo-supply-to-industries-121123001124_1.html

 

75. Driving into 2022, road sector set for 'better' days with more highway stretches, new projects

https://economictimes.indiatimes.com/news/economy/infrastructure/driving-into-2022-road-sector-set-for-better-days-with-more-highway-stretches-new-projs/articleshow/88583377.cms

 

7. Columns by Paul Krugman/ Joseph Stiglitz

 

76. World must avoid swapping one roller coaster for another

https://www.arabnews.com/node/1993921

 

77. Wonking Out: What would a hard landing look like?

https://www.hawaiitribune-herald.com/2021/12/28/opinion/wonking-out-what-would-a-hard-landing-look-like/

 

8. Other Articles/ Columns

 

• EPW

 

Commentary

 

78. The SRS Data on Early Childhood Mortality in India

https://www.epw.in/journal/2021/52/commentary/srs-data-early-childhood-mortality-india.html

 

79. PLFS vs CMIE

How Reliable Is Labour Market Data in India?

https://www.epw.in/journal/2021/52/commentary/how-reliable-labour-market-data-india.html

 

• Project Syndicate

 

80. The Right Recipe for Reforming Pensions

https://www.project-syndicate.org/commentary/right-recipe-for-successful-pension-reform-by-elsa-fornero-2021-12?a_la=english&a_d=61cc6259ed4af1d27cb5d65f&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=right-recipe-for-successful-pension-reform-by-elsa-fornero-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

81. Is Strategic Cooperation with China Possible?

https://www.project-syndicate.org/commentary/us-china-competition-hurdles-to-recovery-future-prosperity-by-michael-spence-2021-12?a_la=english&a_d=61cc25e8ed4af1d27cff13fe&a_m=&a_a=click&a_s=&a_p=%2Fsection%2Feconomics&a_li=us-china-competition-hurdles-to-recovery-future-prosperity-by-michael-spence-2021-12&a_pa=section-commentaries&a_ps=&a_ms=&a_r=

 

• The Economist

 

82. What real-time indicators suggest about Omicron’s economic impact

https://www.economist.com/finance-and-economics/2022/01/01/what-real-time-indicators-suggest-about-omicrons-economic-impact

 

83. Is a greener, faster and more decentralised alternative to Bitcoin possible?

https://www.economist.com/finance-and-economics/2022/01/01/is-a-greener-faster-and-more-decentralised-alternative-to-bitcoin-possible

 

84. Which economies have done best and worst during the pandemic?

https://www.economist.com/finance-and-economics/which-economies-have-done-best-and-worst-during-the-pandemic/21806917

 

9. News on Kerala

 

85. UP last again in NITI Aayog Health Index 2019-20, Kerala tops ranking

https://www.business-standard.com/article/economy-policy/up-last-again-in-niti-aayog-health-index-2019-20-kerala-tops-ranking-121122700547_1.html

 

86. Industries look forward to 2022 with optimism

https://www.thehindu.com/news/national/kerala/industries-look-forward-to-2022-with-optimism/article38057365.ece

 

87. SilverLine will drag Kerala to huge debt, says Sudheeran

https://www.thehindu.com/news/national/kerala/silverline-will-drag-kerala-to-huge-debt-says-sudheeran/article38073100.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