Rebooting Economy 59: Quantum jump in fiscal spending is what India needs immediately
First advance estimates of national income highlight three key imperatives to revive growth: generate demand and investment cycles by directly spending more and reverse import substitution
Prasanna Mohanty | January 18, 2021 | Updated 11:31 IST
The estimates for FY21 further show that, three out of two components of industry, mining and quarrying and manufacturing will have minus 12.4% and minus 9.4% growth
Less than a fortnight to go before the FY21 budget presentation, the state of Indian economy does not look good, notwithstanding the hypes around faster than expected , V or K-shaped recovery or a never before budget . For any such change to happen, India needs a drastic course correction that may be easier said than done in a top-down polity.
Rebooting Economy 56: Why India should follow agricultural development-led industrialisation growth model
Most successful, industrialised and fast-growing Asian economies like Japan, South Korea, China, and Vietnam followed this model, as did Indonesia, Malaysia, and Thailand. Why can t India?
Prasanna Mohanty | January 6, 2021 | Updated 21:06 IST
Agriculture s share of gross capital formation (GCF) fell from 8.5% of the total GCF of economy in FY12 to 6.5% in FY19
The economic reforms that began slowly in 1980s and got turbo-charged in 1991 did bring high growth, but this growth is perhaps unlike what was anticipated. The Lewisian structural transformation - resources shifting from low productive agriculture to high productive manufacturing (industrialisation) that brought prosperity to developed economies in the West (the US and parts of Europe) and the East (Japan, Korea and China s Taipei) - did not occur.
Punjab, Haryana need to look beyond MSP crops
Updated:
Updated:
December 16, 2020 11:56 IST
In tackling agri-crises, these core Green Revolution States must shift to high value crops and promote non-farm activities
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In tackling agri-crises, these core Green Revolution States must shift to high value crops and promote non-farm activities
The region comprising Punjab, Haryana and western Uttar Pradesh, was an early adopter of Green Revolution technology. It was also a major beneficiary of various policies adopted to spread modern agriculture technology in the country. The package of technology and policies produced quick results which enabled India to move from a country facing a severe shortage of staple food to becoming a nation close to self-sufficiency in just 15 years.