The extent to which a given challenge in the economy is cyclical or structural, has major implications for the effectiveness of monetary and fiscal policy.
The government has revised its GDP growth estimate for 2021-22 to 8.7 per cent on account of economic disruptions caused by the Covid-19 pandemic and spike in inflation.
If tax collections in 2022-23 grow by 9.6 per cent, as projected in the Budget, total tax mop-up will be at least Rs 2.1 lakh crore more than the target.
In April, ADB had projected a growth rate of 11% in 2021-22 for India. Meanwhile, RBI also trimmed the country's growth projection by a similar margin to 9.5% in June this year.
The 20.1% growth in Q1 FY22 was largely driven by the base effect. Structural reforms including disinvestment and bank privatisation needed to ensure a sustained growth path.
Except for agriculture and electricity, gas & water supply, no other sector saw output surpassing levels seen in Q1 2019-20. Govt says economy will grow at around 11% in current fiscal.
The IndiGo crisis is nothing short of a threat to India’s stability. Could it be an experiment? Can this happen in any other crucial sector like power or railways?
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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