News: National Statistical Office(NSO), Ministry of Statistics and Programme Implementation(MoSPI) has released the First Advance Estimates (FAE) for 2020-21. Facts: What are the First Advance Estimates(FAE)? For any financial year, the MoSPI provides regular estimates of GDP. The first such instance is through the FAE. The FAE for any particular financial year is typically presented… Continue reading GDP likely to contract by 7.7% in 2020-21, says Govt.
Tag: ECO_2
Current account surplus moderates to $15.5 bn in Q2
Source: The Indian Express News: The current account surplus moderated to $15.5 billion (2.4% of GDP) in the quarter ended September of 2020-21 from $19.2 billion (3.8% of GDP) in the first quarter this fiscal.The current account saw a deficit of $7.6 billion(1.1%) in the year-ago quarter. Facts: Why has current account surplus narrowed? The narrowing of… Continue reading Current account surplus moderates to $15.5 bn in Q2
Importance path How to increase economic recovery of India
Synopsis: Government should adopt a fiscal stimulus Path for the economic recovery of India, to make our economy grow at 9% GDP in the coming years. Background The impact of the pandemic has pushed India to impose stringent lockdown measures to save millions of lives of Indian citizens but it’s after effect has caused massive economic disruption. This has resulted in… Continue reading Importance path How to increase economic recovery of India
Vital notes from the year 2020
Synopsis: As 2020 is coming to an end, we should ponder upon the issues the country faced this year and ensure that 2021 does not become another wasted year. What are the issues India faced in the Vital notes year 2020? Pandemic: The COVID-19 pandemic had an impact on every segment of Indian society and infected approximately… Continue reading Vital notes from the year 2020
Economic Growth
Context: It is important that, only if the Indian economy grows at 8% in 2021-22 we will be able to compensate for the decline in 2020-21. What needs to be done to make Indian economy to grow @ 8%? Accommodative Monetary policy: A reduction in interest rate through changes in policy rate, providing liquidity through… Continue reading Economic Growth
Why Indian Economy is slowing down?
What are the issues facing Indian Economy? COVID pandemic has pulled down the global economy and India’s economy is one of the worst affected among them. In the first quarter of the financial year (April-June), India’s economy had contracted by an unprecedented 23.9%. Whereas in the second quarter, after a bit improvement, economy contracted by… Continue reading Why Indian Economy is slowing down?
India drops two ranks in Human Development Index 2020
News: United Nations Development Program (UNDP) has released the Human Development Index (HDI) 2020. Facts: ● HDI Human Development Index measures the average achievements in a country in three basic dimensions of human development: ○ A long and healthy life- measured by Life expectancy at birth ○ Access to knowledge: measured by Mean years of… Continue reading India drops two ranks in Human Development Index 2020
India’s retail inflation
Context- Retail inflation showed signs of easing in November, led by easing prices of some food items. More in news- Consumer Price Index inflation stood at 6.93% in November 2020 compared to 7.61% in October, according to data released by the Ministry of Statistics and Program Implementation, though it remained above the comfort level of the… Continue reading India’s retail inflation
Income support to mitigate income losses
Context- The government’s unusual reluctance in providing adequate support to the economy has purportedly been because of the lack of fiscal space. Is India in a technical recession? Technical recession– The National Bureau of Economic Research (NBER) in the US defines a technical recession to be in progress when real GDP has declined for at… Continue reading Income support to mitigate income losses
Overestimate GDP growth data
Context- The higher GDP growth rate of the economy actually masks the decline in the unorganized sector. Contents1 What in the news-2 Why GDP data should not be taken as sustainable recovery?3 Why quarterly growth numbers are not robust?4 Way forward- What in the news- The second quarter GDP contracted at a slower pace of… Continue reading Overestimate GDP growth data
