Despite rapid overall growth, there is striking evidence of divergence, or widening gaps in income and consumption across the Indian states, in sharp contrast to patterns within China and across the world.
The popular impression is one of an India where labour flows are relatively low. Based on two new datasets and methodologies, this chapter finds high levels of internal work-related migration in India
The popular impression is one of an India having achieved political integration but an incommensurate economic integration. Based on a novel source of Big Data—invoice-level transactions from the Goods and Services Tax Network (GSTN)—the chapter documents high levels of internal trade in goods.
Meeting the challenge of jobs may require paying attention to labor-intensive sectors. The apparel and leather sectors meet many desirable attributes for policy attention: bang- for- buck for creating jobs, especially for women, opportunities for exports and growth.
I will give you a talisman. Whenever you are in doubt, or when the self becomes too much with you, apply the following test. Recall the face of the poorest and the weakest man [woman] whom you may have seen, and ask yourself, if the step you contemplate is going to be of any use to him [her].
The Economic Survey 20 15-16 had predicted the Indian economy to register the GDP growth rate in the range of 7 to 7.75 per cent in the year 2016-17. The economy was indeed treading along that path and clocked 7.2 per cent in the first half of the current financial year, as per the estimates released by the Central Statistics Office (CSO).
Most states achieved and maintained the target fiscal deficit level (3 percent of GSDP) and eliminated the revenue deficit soon after the introduction of their Fiscal Responsibility Legislation (FRL). However, the FRL was not the sole impetus behind this impressive fiscal performance.
Advanced countries have embraced fiscal activism, giving a greater role to counter-cyclical policies and attaching less weight to curbing the debt stock. But India’s experience has taught the opposite lessons. It has reaffirmed the need for rules to contain activism, so as to rein in excessive spending during booms and inordinate deficits during downturns
For some time, India has been trying to solve its Twin Balance Sheet problem–over-leveraged companies and bad-loan-encumbered banks — using a decentralised approach, under which banks have been put in charge of the restructuring decisions.
This chapter examines whether the pathologies associated with foreign aid and natural resources internationally also afflict the Indian states. It calculates redistributive resource transfers (RRT) from the Centre and revenue from natural resources for Indian states.
