A blueprint to restart the economy| Analysis
4 years, 10 months ago

A blueprint to restart the economy| Analysis

Hindustan Times  

The coronavirus disease is an unprecedented humanitarian crisis. In the six weeks so far, India’s economy has functioned at about half of its full activity level, with over 140 million non-farm workers inactive In the six weeks so far, India’s economy has functioned at about half of its full activity level, with over 140 million non-farm workers inactive. Second, India’s economic activity is concentrated — 130 districts that are classified by the ministry of health and family welfare as falling in the red zone comprise 40% of India’s GDP; the 352 green zone districts, where most activity is allowed, account for less than a quarter. Third, states may choose to keep red zone districts locked down beyond containment zones in order to minimise the risk of infection spreading, even though the ministry of home affairs has allowed them to reopen. If 27 of the most urbanised red zone districts that also have relatively high infection rates are under lockdown, only 80% of India’s economic activity occurs, and 67 million non-farm workers remain inactive.

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History of this topic

Union Budget should set the policy direction
2 months ago

Union Budget should set the policy direction

Hindustan Times  

India’s post-Covid 19 pandemic recovery and sustained economic growth is direct outcome of a set of public policies pursued in recent years. Incubation and start-ups are relatively recent phenomenon which receives substantial policy attention nowadays and for those to evolve as mature bases for a significantly expanded national economy in the coming years, a bigger push may be required to …

India’s COVID-19 campaign saved more than 3.4 million lives, had positive impact on economy: Union Health Minister Mandaviya
2 years, 1 month ago

India’s COVID-19 campaign saved more than 3.4 million lives, had positive impact on economy: Union Health Minister Mandaviya

The Hindu  

adopted a Whole of Government’ & ‘Whole of Society’ approach, in a proactive, preemptive & graded manner; thus, adopting a holistic response strategy, for effective management of COVID-19,” Dr. Mansukh Mandaviya said on February 24 as he virtually addressed the ‘The India Dialog’ session on the Economic Impact of Vaccination and Related Matters. The Union Minister for Health and Family …

After 'smart recovery' from Covid, what do MSMEs expect from Budget 2023
2 years, 2 months ago

After 'smart recovery' from Covid, what do MSMEs expect from Budget 2023

Hindustan Times  

The micro, small and medium enterprises sector has posted smart recovery from pandemic-induced shock, with the goods and services tax paid by the sector in fiscal year 2022 exceeding the pre-pandemic level in FY20, the Economic Survey tabled in parliament on Tuesday noted. The Economic survey highlighted Covid had a significant negative impact on the sector’s performance. Economic survey highlighted …

Despite India's economic growth, few jobs and meagre pay for urban youth
2 years, 2 months ago

Despite India's economic growth, few jobs and meagre pay for urban youth

The Hindu  

Ravi Verma, hired by an electrical parts manufacturing firm early last year as India’s economy surged, was fired in November when the company lost several export orders. “I face a risk of loan default if I don’t get a job soon.” The urban unemployment rate swelled to 10.1% in December, although the total number of jobs in India touched a …

Explained | Is the economy driving with the brakes on?
2 years, 3 months ago

Explained | Is the economy driving with the brakes on?

The Hindu  

The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps for the rebound. As JP Morgan managing director and India chief economist Sajjid Chinoy explained at a CII economic policy summit last week, 2022 was expected to see a …

Joblessness below pre-COVID levels: Finance Ministry
2 years, 6 months ago

Joblessness below pre-COVID levels: Finance Ministry

The Hindu  

Demand for work under the national rural employment guarantee scheme hit a two-year low in August, signalling that the recovering economy is creating more jobs in rural as well as urban India, the Union Finance Ministry said on Saturday. India’s inflation, the Ministry said, is “in control” and expected to moderate in coming months from the 7% mark in August …

Economy may take more than a decade to overcome COVID-19 losses: RBI report
2 years, 11 months ago

Economy may take more than a decade to overcome COVID-19 losses: RBI report

The Hindu  

The Indian economy may take more than a decade to overcome the losses caused by the outbreak of COVID-19 pandemic, according to Reserve Bank of India’s Report on Currency and Finance. Taking actual growth rate of 6.6% for 2020-21, 8.9% for 2021-22 and assuming growth rate of 7.2% for 2022-23 and 7.5% beyond that, India is expected to overcome COVID-19 …

An already slowed Indian economy faces fresh risks
3 years, 1 month ago

An already slowed Indian economy faces fresh risks

Al Jazeera  

Rising crude oil prices and supply disruptions following Russia’s invasion of Ukraine could further sap an Indian economy already slowed by COVID-19, posing risks to household spending and private investments, economists have said. The “surge in oil prices as a result of the crisis poses considerable risks to the Indian economy”, Aditi Gupta, an economist at Bank of Baroda, said …

COVID-19 pandemic coming to an end in India? From Assam to Telangana, states lift curbs
3 years, 1 month ago

COVID-19 pandemic coming to an end in India? From Assam to Telangana, states lift curbs

Firstpost  

Amid a steady decline of coronavirus infections, the Centre asked states to remove additional restrictions, which were imposed to deal with the third wave of the pandemic Is India on its way to a pre-COVID normal? Union Health Secretary Rajesh Bhushan in his letter to all states/Union Territories asked them to review and amend or end additional COVID-19 restrictions as …

Omicron worry: India's economic recovery could face disruption again, says UN
3 years, 2 months ago

Omicron worry: India's economic recovery could face disruption again, says UN

India Today  

The deadly wave of Delta variant-driven Covid infection claimed 240,000 lives between April and June last year and disrupted the economic recovery. “Similar episodes could take place in the near term,” the United Nation’s Economic forecast for India has stated, amid a rising number of Omicron infections in the country. However, India’s economic recovery is on a solid path, amid …

No need for full lockdown, says TN Health Minister Subramanian
3 years, 2 months ago

No need for full lockdown, says TN Health Minister Subramanian

Deccan Chronicle  

Chennai: Amid the surge in the COVID-19 cases, Tamil Nadu Health Minister MA Subramanian on Tuesday said that there is no need for a lockdown in the state amid rising COVID-19 cases. According to the state health department, there are currently 62,767 active cases of COVID in Tamil Nadu. Tamil Nadu government on Monday extended COVID-19 restrictions till January 31 …

Covid-19: Omicron surge cripples several businesses, to hit economic recovery
3 years, 2 months ago

Covid-19: Omicron surge cripples several businesses, to hit economic recovery

India Today  

A fresh wave of Covid-19 infections in India has cast a shadow over economic recovery as several sectors have been impacted by fresh restrictions that have been announced in view of the situation. Numerous businesses spanning across multiple sectors have been impacted in light of the fresh restrictions imposed by states. While many people are still travelling despite the fresh …

Explained: Is India's economy gaining immunity against Covid-19?
3 years, 7 months ago

Explained: Is India's economy gaining immunity against Covid-19?

India Today  

India’s economy is on track to rebound sharply after two waves of the Covid-19 pandemic dampened growth during all four quarters of FY21. A majority of financial analysts predict GDP growth at 18-20 per cent in the June quarter and remain optimistic about economic recovery in upcoming quarters as the second wave fades and more Indians get vaccinated against the …

India's economy shows signs of recovery as factory activity rises in July
3 years, 8 months ago

India's economy shows signs of recovery as factory activity rises in July

India Today  

India’s economy has shown signs of recovery in July as factory activity rebounded on the back of rising domestic and international demand. IHS Market’s survey confirmed that output rose at a robust pace, with over one-third of companies noting a monthly expansion in production as business rebound and Covid restriction ease. Read | Factory activity shrinks for first time in …

Explained: How businesses plan to expand as Covid situation improves
3 years, 8 months ago

Explained: How businesses plan to expand as Covid situation improves

India Today  

Several businesses in the country are planning to expand as the Covid-19 situation improves after the deadly second wave. A retail sales boost is crucial for India’s economic recovery, which was unceremoniously halted by the second Covid-19 wave. FABINDIA’S EXPANSION DRIVE Fabindia, one of the country's most well-known retail chains dealing in a variety of ethnic and handmade products, plans …

State of working India 2021: The pandemic’s impact on the economy in India
3 years, 8 months ago

State of working India 2021: The pandemic’s impact on the economy in India

Hindustan Times  

This report documents the impact of one year of Covid-19 in India, on jobs, incomes, inequality, and poverty. On top of this, there were legacy problems such as a slow rate of job creation and lack of political commitment to improving working conditions which trapped a large section of the workforce without access to any employment security or social protection. …

For sustained recovery, focus on vaccination, rural India and infra push
3 years, 8 months ago

For sustained recovery, focus on vaccination, rural India and infra push

Hindustan Times  

The second wave of the Covid-19 pandemic may have ebbed, but India cannot lower its guard. Over the last 14 months, while the pandemic ravaged global economies, India was adversely impacted too, with its Gross Domestic Product contracting by 23.9% in the April-June quarter of last year. After five different stimulus packages, the Narendra Modi government has now announced a …

Moody's cuts India's growth forecast for 2021 to 9.6%
3 years, 9 months ago

Moody's cuts India's growth forecast for 2021 to 9.6%

The Hindu  

Moody's Investors Service on Wednesday slashed India's growth projection to 9.6 per cent for 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter In its report titled. 'Macroeconomics – India: Economic shocks from second COVID wave will not be as severe as last …

Experts urge India’s richest state to gear up for third wave of Covid-19
3 years, 9 months ago

Experts urge India’s richest state to gear up for third wave of Covid-19

Live Mint  

Health officials in India's richest state have urged authorities to step up preparations against a possible third wave of coronavirus infections, they said on Friday, as lockdowns eased less than a month after a surge that killed thousands. "We should have a clear plan, and keep our preparations ready for the next few weeks, whenever the next wave comes," Rahul …

India eases COVID rules as new cases dip to two-month low
3 years, 9 months ago

India eases COVID rules as new cases dip to two-month low

Al Jazeera  

Many states, including capital New Delhi, ease restrictions as new infections drop to the lowest since March 31. Many Indian states have eased coronavirus restrictions, including the capital New Delhi, where authorities allowed all shops and shopping centres to open, as the number of new infections dropped to the lowest in more than two months. Infections peaked in India in …

India's daily Covid-19 cases and deaths drop to 100,636 and 2427; tally nears 29 million
3 years, 9 months ago

India's daily Covid-19 cases and deaths drop to 100,636 and 2427; tally nears 29 million

Hindustan Times  

India's daily caseload of the coronavirus disease declined for a third straight day, as 100,636 infections -- the lowest in 61 days -- were detected in the last 24 hours, the Union ministry of health and family welfare data, updated on Monday morning, showed. A health worker conducting a Covid-19 test on a woman Also, 2427 people succumbed to Covid-19 …

India reopens major cities as new COVID cases hit two-month low
3 years, 9 months ago

India reopens major cities as new COVID cases hit two-month low

Al Jazeera  

Capital New Delhi and financial hub Mumbai begin gradual easing of restrictions as lowest infections reported since April 6. “We have to save ourselves from infection but also bring the economy back on track,” Delhi’s Chief Minister Arvind Kejriwal said on Twitter. This is a very welcome step for thousands of mall staff and retail employees.” The Hotel and Restaurant …

Delhi, Mumbai ease lockdowns as India COVID numbers fall
3 years, 9 months ago

Delhi, Mumbai ease lockdowns as India COVID numbers fall

Al Jazeera  

The Indian capital and Maharashtra – two of the worst-affected places – announce easing of restrictions in a phased manner. Markets and shopping malls in New Delhi will be allowed to reopen from Monday in a further easing of the COVID-19 lockdown, the chief minister of the national capital territory said as infections fall in major Indian cities after weeks …

Lockdowns have impacted large and small states alike
3 years, 10 months ago

Lockdowns have impacted large and small states alike

Live Mint  

India’s economy began the month of May with a cloud of uncertainty: by April’s last week, most states had gone under fresh covid-19 lockdowns. The economic cost is now clear across the country, rich and poor states alike, several high-frequency indicators show in the latest monthly update to Mint’s state recovery tracker. Delhi had the poorest economic performance and the …

Covid-19: How 2nd wave has impacted jobs, household incomes
3 years, 10 months ago

Covid-19: How 2nd wave has impacted jobs, household incomes

India Today  

The second wave of Covid-19 has severely impacted household incomes and jobs as local lockdowns remain imposed in most states. Over 10 million Indians have lost their jobs because of the second wave of Covid-19, and around 97 per cent of households have faced income loss since the beginning of the pandemic last year, Centre for Monitoring Indian Economy chief …

India's factory activity growth slipped in May as demand fell
3 years, 10 months ago

India's factory activity growth slipped in May as demand fell

India Today  

India's factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday. India has already reported around 28 million coronavirus cases and over 300,000 deaths, leading many states to impose restrictions affecting economic activity. Read | Core …

Indian economy, hit by COVID-19, shrinks by 7.3% in 2020-21
3 years, 10 months ago

Indian economy, hit by COVID-19, shrinks by 7.3% in 2020-21

Associated Press  

NEW DELHI — India’s economy, pummeled by the coronavirus pandemic, contracted by 7.3% in the 2020-21 financial year, just before the country was hit by another catastrophic surge in infections. Daily new cases set global records, spurring many states to announce widespread restrictions and lockdowns. In January, a government survey estimated the economy -- previously one of the fastest growing …

Covid-19: Should India start opening up?
3 years, 10 months ago

Covid-19: Should India start opening up?

Hindustan Times  

The second wave of Covid-19 infections in India is slowing down. Higher mobility levels might have acted as a catalyst for the second wave The first wave of Covid-19 infections in India reached its trough on February 11. The second wave reached its peak in Delhi on April 23, 2021 with a seven-day average of 25,294 daily cases. For example, …

Indian economy's ability to rebound on test amid threats from second wave
3 years, 10 months ago

Indian economy's ability to rebound on test amid threats from second wave

Hindustan Times  

The Indian economy’s resilience will be tested by its ability to overcome a devastating outbreak of Covid-19, although no one’s yet doubting its potential to pull off the world’s fastest pace of growth among major economies this year. Data due later Monday will probably show gross domestic product grew 1% in the three months ended March, making it the second …

The economic crisis is real; the picture of economic resilience is an illusion
3 years, 10 months ago

The economic crisis is real; the picture of economic resilience is an illusion

The Hindu  

As the ongoing second wave of coronavirus infections in India peaks, there is little clarity on what its economic fallout is and will be. Two assessments from official sources—one from the Reserve Bank of India, titled The State of the Economy and the other from the Ministry of Finance, titled Month Economic Report for May—seem to suggest that economic trends …

India's economy may grow at world's fastest rate in FY22 despite Covid shock
3 years, 10 months ago

India's economy may grow at world's fastest rate in FY22 despite Covid shock

India Today  

India’s economy has been predicted to grow at the fastest rate among all major economies in the world this year despite the disruption caused by the second wave of Covid-19 pandemic. It may be noted that the estimate has been shared after several ratings agencies downgraded previous growth forecasts for India due to the impact on the economy triggered by …

Covid-19 and the disease of inequality
3 years, 10 months ago

Covid-19 and the disease of inequality

Hindustan Times  

Abandoned by the State that insisted on locking down, refusing to recognise the damage done to their livelihoods, India’s workers asserted their rights and made themselves heard by walking home in March 2020. Ironically, the scale of the health crisis has rendered invisible the deepening livelihood crisis that India confronts, drowning out the voices that fought a callous State and …

India’s economic report card is drenched in red ink
3 years, 10 months ago

India’s economic report card is drenched in red ink

Live Mint  

India’s nascent economic recovery has been derailed by the second covid-19 wave even before it could gather steam. Launched in October 2018, Mint’s macro tracker provides a monthly state-of-the-economy report based on trends in 16 high-frequency indicators across four segments: consumer economy, producer economy, external sector, and ease of living. A year ago, during the first nationwide lockdown, 13 of …

Maharashtra May Ease Covid-19 Curbs in Districts Showing Dip in Cases from June 1
3 years, 10 months ago

Maharashtra May Ease Covid-19 Curbs in Districts Showing Dip in Cases from June 1

News 18  

Maharashtra Relief and Rehabilitation Minister Vijay Wadettiwar on Monday said the government was contemplating easing COVID-19-induced lockdown-like curbs in districts outside the “red zone” after June 1. Home quarantine system for COVID-19 patients has now been replaced with institutional quarantine in districts where the coronavirus cases are increasing, the minister said. Meanwhile, the central government on Monday said there has …

India: New Delhi to relax lockdown as COVID cases decline
3 years, 10 months ago

India: New Delhi to relax lockdown as COVID cases decline

Al Jazeera  

India’s capital New Delhi will start relaxing its strict coronavirus lockdown next week if its new cases continue to drop. The South Asian country on Sunday reported 240,842 new infections nationwide over 24 hours – the lowest daily number in more than a month – and 3,741 deaths. New Delhi, one of the worst-hit cities, went into lockdown on April …

Overall coronavirus situation stabilising in India: Govt
3 years, 10 months ago

Overall coronavirus situation stabilising in India: Govt

India TV News  

The overall COVID-19 situation in the country is stabilizing and the government will work towards ensuring further stabilisation, NITI Aayog member V K Paul said on Saturday. At a press conference on Saturday, top health officials said 10 states account for 85 per cent of the total coronavirus cases in the country. The Union Health Ministry said 11 states have …

Overall coronavirus situation stabilising in India, says government
3 years, 10 months ago

Overall coronavirus situation stabilising in India, says government

The Hindu  

The overall COVID-19 situation in the country is stabilising and the government will work towards ensuring further stabilisation, NITI Aayog member V K Paul said on Saturday. The Union Health Ministry said 11 states have over one lakh active COVID-19 cases, 17 have less than 50,000 cases while eight have active cases between 50,000 and one lakh. India in a …

Kerala extends COVID-19 curbs till 23 May, imposes 'triple lockdown' in four worst-hit districts
3 years, 10 months ago

Kerala extends COVID-19 curbs till 23 May, imposes 'triple lockdown' in four worst-hit districts

Firstpost  

The state is currently under a 9-day complete shutdown as part of its efforts to bring down the daily caseload of infected persons The Kerala government on Friday announced that the total lockdown being enforced in the state from 8 to 16 May will be extended till 23 May to contain the massive spread of COVID-19. The decision to extend …

Livelihoods & Learning Must Not Take a Hit While Containing COVID-19. Here’s How We Can Do It
3 years, 10 months ago

Livelihoods & Learning Must Not Take a Hit While Containing COVID-19. Here’s How We Can Do It

News 18  

In the wake of unprecedented flare-up of COVID cases in the country during the second wave of the pandemic, lockdown is being considered as the last remaining weapon with the government. India’s economy went through a sharp GDP contraction in the quarter ending June 30, 2020, with an unprecedented 24.4 per cent y/y decline and led to unemployment rising sharply. …

Most of country should remain locked down for 6-8 weeks to curb Covid spread: ICMR chief
3 years, 10 months ago

Most of country should remain locked down for 6-8 weeks to curb Covid spread: ICMR chief

India Today  

The Indian Council of Medical Research has said districts reporting a high number of Covid-19 infections should remain locked down for another six to eight weeks to control the spread of the rampaging disease. That won't happen in six-eight weeks, clearly," Bhargava said in an interview at the New Delhi headquarters of the ICMR, the country's top medical research body. …

Covid-19: Top economist says India might face 'serious livelihood crisis'
3 years, 10 months ago

Covid-19: Top economist says India might face 'serious livelihood crisis'

India Today  

India might be heading towards a “serious livelihood crisis” as the situation seems to be worse this time for the working class amid the COVID crisis and local restrictions by states already add up to something close to a nationwide lockdown, according to noted economist Jean Dreze. Read | V-shaped recovery unlikely as India’s economy faces tougher Covid test About …

Fiscal metrics to stay weak on COVID: S&P
3 years, 10 months ago

Fiscal metrics to stay weak on COVID: S&P

The Hindu  

An ongoing second wave of COVID-19 infections in India could hurt its near-term economic recovery and possibly diminish growth for the full year, S&P Global Ratings said on Tuesday. “India’s COVID wave will inevitably hit the recovery and could push growth below 10%,” said Shaun Roache, chief economist, Asia Pacific at S&P. “The longer it takes to regain control, the …

Fauci advises India to marshal all resources, including Army, to fight Covid-19
3 years, 10 months ago

Fauci advises India to marshal all resources, including Army, to fight Covid-19

Hindustan Times  

Terming the situation in India “very desperate”, America's top public health expert Dr Anthony Fauci has suggested the government marshal all its resources, including the armed forces, to immediately build makeshift field hospitals, and urged other countries to help with not only materials but also personnel. Dr. Fauci’s suggestions and dire assessment of India came as the number of new …

Chorus grows louder for complete lockdown in India amid Covid-19 surge
3 years, 10 months ago

Chorus grows louder for complete lockdown in India amid Covid-19 surge

India Today  

India on Tuesday recorded over 3.57 lakh fresh Covid-19 cases and 3,449 deaths over the past 24 hours. With the 3,57,229 fresh cases in 24 hours, India's total case tally has crossed the 2-crore mark and reached 2,02,82,833. The total number of active Covid-19 cases in the country now stands at 34,47,133. xpressing concern over surging coronavirus cases in India, …

Uday Kotak calls for 'strongest national steps' to tackle 2nd Covid wave
3 years, 11 months ago

Uday Kotak calls for 'strongest national steps' to tackle 2nd Covid wave

India Today  

Top banker and the president of Confederation of Indian Industries Uday Kotak has said that the “strongest” national steps including curtailing economic activity are necessary to stop the raging second wave of Covid-19. In a statement issued recently by CII, Kotak said, “Given the current pandemic situation, safeguarding lives is of utmost priority and nationwide maximal response measure at the …

India suffers record daily coronavirus deaths as total new cases dip slightly
3 years, 11 months ago

India suffers record daily coronavirus deaths as total new cases dip slightly

ABC  

India has recorded its highest daily death toll since the start of the coronavirus pandemic, with nearly 3,700 people dying in 24 hours. Key points: Ten Indian states and union territories have imposed some form of restrictions The federal government has reportedly been advised to impose a national lockdown The government has been accused of ignoring warnings in early March …

Few weeks' lockdown in India can stop Covid transmission, suggests top US expert Dr Fauci
3 years, 11 months ago

Few weeks' lockdown in India can stop Covid transmission, suggests top US expert Dr Fauci

India Today  

Top US epidemiologist Anthony Fauci has suggested a lockdown for a few weeks in India as an immediate step to contain the spread of the coronavirus as its deadly second wave shows no signs of ebbing. Fauci, in an interview with The Indian Express, said another most important thing in the immediate is to get supplies of oxygen, medication, PPEs. …

Coronavirus | Second wave hurting India’s recovery: S&P Global Ratings
3 years, 11 months ago

Coronavirus | Second wave hurting India’s recovery: S&P Global Ratings

The Hindu  

India’s ‘escalating’ second wave of COVID-19 infections poses serious downside risks to the economy and heightens the possibility of business disruptions in addition to ‘the substantial loss of life and significant humanitarian concerns’, S&P Global Ratings said on Wednesday. ‘Permanent output loss’ “A drawn-out COVID-19 outbreak will impede India’s economic recovery,” S&P said in a statement. Stressing that the pace …

Second COVID wave poses downside risks to India's economic growth: S&P
3 years, 11 months ago

Second COVID wave poses downside risks to India's economic growth: S&P

India TV News  

S&P Global Ratings on Wednesday said the second wave of COVID infections poses downside risks to India's GDP and heightens the possibility of business disruptions. Last week another global rating agency Fitch had projected India's economic growth in current fiscal at 12.8 per cent, while Moody's Investors Service had earlier this month said that the second wave of COVID infections …

India’s GDP to grow at 11% this fiscal, surge in COVID cases may put economic recovery at risk: ADB
3 years, 11 months ago

India’s GDP to grow at 11% this fiscal, surge in COVID cases may put economic recovery at risk: ADB

India TV News  

The Indian economy is projected to grow at 11 per cent in the current financial year amid the “strong” vaccine drive, said ADB on Wednesday, while cautioning that the recent surge in COVID cases may put the country’s economic recovery at “risk”. “India’s economy is expected to grow 11 per cent in fiscal year 2021, which ends on March 31, …

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