Top Tweets for #IndiaEc
#Jobs are back in the market with a strong recovery in India's formal employment numbers (#EPFO payroll) indicating a bounce back from #COVID19 low of March and April 2020
#COVID19India #coronavirus
https://t.co/OMMmwoqnkp
#IndiaEc👇🏼consistent with #unemployment #rate normalizing in July-Aug & lower in sept/oct than yr ago. Lower #LFPR shows urban women, highly educated & youth(20-24) are delaying (re-)entry in labor mrkt bcs of COVID fear. Service jobs fr uneducated r suspended bcs of COVID fears
Consumer surveys in May showed that 70% of the rich and 60% of the poor would rather stay indoors and be safe.
However, this flipped in July and people were eager to get back to leading normal lives: @rama_bijapurkar #ASCENTConclave
Read more: https://t.co/TJuRb6PSIS
Nirmala Sitharaman PC: FM says 'One Nation, One Ration Card' scheme now in 28 states and UTs
#NirmalaSitharaman
#stimuluspackage
https://t.co/NzjGt8HW2r
During June, merchandise exports contracted 12.4% while imports dipped 47.6%, leading to a trade surplus of $790 million
https://t.co/KZ4H8MI5ZW
@ProsaicView @smjalageri @rajeshmahapatra @SwapnaUdayana 3/ #IndiaEc We said this when the #draconian #anti-#blackmoney laws were passed in 2015-2016. One member from each wealthy (1%) family started moving abroad. It was visible in real time and we warned our contacts in govt. But 🙈🙉🙊. Emotions are not a substitute for analysis...4
#IndiaMacro #IndiaEc #MonetaryPolicy There is no (first order) difference in substance only in form/appearance; The 2nd & 3rd order differences are a matter of detail, which is best left to the judgement of the @RBI, which has much more detailed information than any of us.
With India’s growth slowing down sharply (4.2% in FY20) here is a thought for the stimulus package. RBI should step in by using limited OMO (open market operations) rather than direct monetization of the fiscal deficit. This will strengthen interest rates, boost savings & growth.
#IndiaEc Protectionism viz Communist China is justified bcs of its assymetric trade, investment & technology policies, Protectionism viz Rest of World is NOT - it leads down same disasterous path followed by PM Indira Gandhi in her 1st term (which she started correcting in 1980s)
#Autoslowdown | Domestic passenger vehicle sales down 6.2% in Jan; car sales slide 8% YoY, according to SIAM
#Automobile
https://t.co/ulUHR7CiMz
#IndiaEc Tightening #Monetary #Policy in the interest of #Ideological #Purity, when there is a sharp decline in #Demand, is #MacroIncompetence! 😢
The Reserve Bank of India's shock pause on interest rates has pushed up borrowing costs for Indian companies https://t.co/JPwdAjKpqz
4/ec #IndiaEc #Hypothesis Though rural wage gr(real)>0 (2016-17Q3 to 2017-18Q2), rural savings had likely run down by then, so rural HH kept consumption gr modest to rebuild savings/repay debt. Still this would be insufficient to reduce 2017-8 real cons < 2011-2 cons. #NSS flaws?
#IndiaEc #IndiaSoc 10-15 yrs ago I suggested the setting@up of an #Environmental #Protection #Agency 🧐headed & staffed by scientists, technologists & othr professionals, who would collect & analyze air & water pollution data & advise. Instead we got #National #Green #Tribunal🤢
3/ec #IndiaEc The balance between Institutional & bureaucratic danda (stick) and economic incentives (carrot) was tilted too heavily towards the former. The balance btwn carrot & stick is now being restored, and should be fully restored by march 2020 (Monetary policy is lagging)
Trade emerges as most significant issue at #ModiXiSummit. FS says a new mechanism will be established to discuss trade & investment between the two sides led by the Chinese Vice Premier and India's Finance Minister. Says China is ready to take sincere action on trade imbalance.
#IndiaEc As announced by FM, Govt must accelerate payment of its overdues(tax-subs refunds) & outstanding bills & that of the CPSUs. Though RBI is doing all it can as a regulator of NBFCs it must keep the pressure on affected 1s to find market based solutions to improve viability
12/c #IndiaEc : In fact companies which start btwn now and 2023 the tax rate will be 17% this is a huge boost for #MakeInIndia #FDI, #SupplyChains👍🏼👍🏼👍🏼 https://t.co/vR0fjSz0Ab
One of the most important recommendations of tax economists, implemented. This will apply to new companies moving #SupplyChains to India. Three cheers 👏👏👏to @nsitharaman and @pmo 👍🏼👍🏼👍🏼
11/c #IndiaEc: Investment Rate declined(2011-2+)bcs of lower Household Investment(=physical saving) in Structures-housing, offc, Indus sheds(https://t.co/gFwxK4Ci4q). HH Gross Fin Saving has risen(%GDP), but Net HH Saving declined bcs HH borrowing has risen even faster(refn 1/c)
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