With the agriculture sector employing 45% of the workforce but accounting for only 15% of GDP, it confirms that two-thirds of India’s workforce engages in low-productivity work.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
India's growing at more than twice the speed of global economy, and doing better than any other large economy, but longer-term problems with country's statistical system & data base remain.
While indicators of urban demand are growing at a sharp pace, rural consumption is in slow lane. However, manufacturing, mining and construction have all seen double-digit growth.
Two articles, one by visiting Princeton prof & another by ex-CEA, question India’s GDP calculation. 'Critics latch on to anything that doesn't paint economy in good light,' says govt.
Agriculture, and financial, real estate & professional services sectors grew faster this year than last year, while most of the other sectors registered slower but robust growth.
It should be cause for worry that, by latest quarter, agriculture had become 25% bigger than manufacturing. This is the exact opposite of what 'Make in India' intended.
Having received additional data on Covid-impacted 2020-21, govt has revised the year’s growth upwards in each revision. Growth for post-pandemic 2021-22 has also been estimated higher.
In the centuries to come, economist Bibek Debroy's Mahabharata will attain the importance we attach to the texts of Shankara, Ramanuja, and Madhvacharya.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
The decorated Naga officer from Manipur also served as envoy to Myanmar & Nagaland chief secy. Defence Minister Rajnath Singh inaugurated a museum dedicated to the Tawang hero Thursday.
Congress is silently acknowledging it over-read verdict of last general election. You can see it in easy concession to SP. It will likely be more reasonable in Maharashtra & Jharkhand.
I feel that the unorganized sector does more ‘Nyaya’ to the work force than the ‘khatakhat’ approach of Congress Party to raise the GDP.