Inside the farmer disquiet at Delhi’s doorstep
Lakhbir Singh, 80, from Tarn Taran in Punjab is among thousands of farmers who have made the national highways bordering Delhi their home for close to a month
9 min read
The protesting farmers have rejected all offers by the government. What will make them change their mind?
Farmers from Punjab and Haryana, for now, are unwilling to trade the assured prices guaranteed by the MSP regime for the uncertainty that free markets may bring.
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NEW DELHI :
Before you start a protest you have to measure who you are up against.what are its ways; what are its habits; will it ever step back? Joginder Singh Ugrahan’s soft-spoken voice is drowned out by a cacophony of slogans coming from outside his office at Delhi’s borders.
NCAER pegs GDP contraction at 7 3% in FY21 smetimes.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smetimes.in Daily Mail and Mail on Sunday newspapers.
Long-lasting impact
Shekhar Shah, Director General, NCAER, said that the ongoing recovery notwithstanding, hysteresis, the long-term effect of sharp contraction of GDP in 2020-21, is likely to be long-lasting. The economy will have to grow at more than the previous trend rate for it to catch up with its pre-pandemic growth level. Conventional macroeconomic policies alone will not do. These will have to be supported by deep and wide ranging reforms, especially in the financial sector, power and foreign trade, he said.
Additional reforms in health, education, labour and land are also urgent, but these will require close coordination between the Centre and States in a spirit of cooperative federalism since these are in the main State subjects in the 7th Schedule of the Constitution, Shah added.
NCAER revises FY21 projection to -7.3% on ‘sharp recovery in Q2’
The gross domestic product (GDP) had contracted by 23.9 per cent in the first quarter of the current fiscal, in the aftermath of the coronavirus pandemic. The contraction narrowed to 7.5 per cent in the second quarter. December 22, 2020 3:00:38 am
The challenge now is to sustain and accelerate the pace of the recovery seen in Q2 over the medium to long term, it said.
The National Council of Applied Economic Research (NCAER) said Monday it expects the GDP to contract 7.3 per cent in 2020-21 from 12.6 contraction estimated earlier in September. Stating that the long-term effect of sharp contraction this year is likely to be long lasting, the think tank in its mid-year review, however, said it expects the GDP to record marginal growth of 0.1 per cent and 2 per cent in October-December and January-March, respectively.
NCAER projects GDP contraction of 7 3% in FY21 daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.