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View: What do the latest GDP numbers tell us? Sadly, nothing encouraging

Barring agriculture, which continued its stellar performance, growing at 3.6% in FY2021, and electricity that grew at 1.9%, every other sector contracted during the year. The contraction in trade (–18.2%), construction (–8.6%), mining (–8.5%) and manufacturing (–7.2%) is particularly ominous, as these account for the bulk of jobs, especially low-skilled ones. And especially since any hope that the contraction may prove a temporary setback has been scotched by the second wave of Covid in March. ....

Winston Churchill , Food Corporation Of India , Central Statistical Organisation , Chad Churchill , Second Advance Estimates , India Ratings , Food Corporation , India Ratings And Research , வின்ஸ்டன் சர்ச்சில் , உணவு நிறுவனம் ஆஃப் இந்தியா , மைய புள்ளிவிவர ஆர்கநைஸேஶந் , இந்தியா ரேடிஂக்ஸ் , உணவு நிறுவனம் , இந்தியா ரேடிஂக்ஸ் மற்றும் ஆராய்ச்சி ,

Spend, government, spend, to trigger growth


Spend, government, spend, to trigger growth
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Last Updated: May 27, 2021, 11:25 PM IST
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Synopsis
Higher spending is needed to contain the toll on the economy due to lockdowns in the second wave of the pandemic.
Reuters
What about the fiscal deficit? India is a young, growing country, and growth will generate the resources to pay off debt. The point is to feed and sustain growth.
At this juncture, says the RBI Annual Report, the Indian economy is at a cusp. A combination of public and private investment can lead on to fast growth. However, private investment has been timid, and public investment has to has the added role to play of crowding in private investment, even as it increases capital formation out of budgetary resources. RBI’s insight is no recondite truth. The sentiment is widely shared by industry as well, as reflected by banker and CII President Uday Kotak’s call for one more round of fiscal stimulus. ....

Uday Kotak , Mahatma Gandhi National Rural Employment Guarantee Scheme , India Ratings , Fiscal Deficit , Rbi Annual Report , Governemtn Spending , Private Investment , India Ratings And Research , ஊடாய் கோட்டக் , மகாத்மா காந்தி தேசிய கிராமப்புற வேலைவாய்ப்பு உத்தரவாதம் திட்டம் , இந்தியா ரேடிஂக்ஸ் , நிதி பற்றாக்குறை , ர்பீ ஆண்டு அறிக்கை , ப்ரைவேட் முதலீடு , இந்தியா ரேடிஂக்ஸ் மற்றும் ஆராய்ச்சி ,