Worrisome trends in inflation and unemployment
Material type:
BookPublisher: Economic & Political Weekly Description: 56(26), Jun 26, 2021: p.7-7.
In:
Economic & Political WeeklySummary: Now that the second wave of the pandemic has ebbed, the policy focus is slowly reverting to the economy. The economic relief package of `6.29 lakh crore announced by the government, mainly to provide credit to business, is a pointer to this. This is also in tune with the official line that, despite the massive toll on lives, the second wave has caused only a temporary setback to the economy. In its monetary policy statement (MPS) in early June, the Reserve Bank of India (RBI) revised down the first quarter growth in 2021–22 by a third to 18.5%. But the forecasts project a largely stable or even higher growth over the next three quarters. And the lack of high frequency official statistics on employment losses has been conveniently used to blank out livelihood issues, albeit a small provision for free food.- Reproduced
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Articles
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Indian Institute of Public Administration | 56(26), Jun 26, 2021: p.7-7 | Available | AR125542 |
Now that the second wave of the pandemic has ebbed, the policy focus is slowly reverting to the economy. The economic relief package of `6.29 lakh crore announced by the government, mainly to provide credit to business, is a pointer to this. This is also in tune with the official line that, despite the massive toll on lives, the second wave has caused only a temporary setback to the economy. In its monetary policy statement (MPS) in early June, the Reserve Bank of India (RBI) revised down the first quarter growth in 2021–22 by a third to 18.5%. But the forecasts project a largely stable or even higher growth over the next three quarters. And the lack of high frequency official statistics on employment losses has been conveniently used to blank out livelihood issues, albeit a small provision for free food.- Reproduced
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