On Union government accounts – Growth spending

News: Union government accounts for Q2 of 2021-22 were released. What does the report say? It showed that the government has a comparatively better fiscal position due to better revenue collection. Total revenue receipts were over 70% of the budget estimate. –Higher nominal growth, will also expand the economy and help contain the fiscal deficit… Continue reading On Union government accounts – Growth spending

Money Is The Key To Happiness

News: Per capita GDP, not GDP itself, is the real measure of national progress GDP does not reflect a society’s well-being. GDP captures neither population decline nor welfare. Moreover, it doesn’t measure social indicators of wellbeing such as the health, education, and welfare of children. In this context, many alternatives have been proposed such as… Continue reading Money Is The Key To Happiness

Building a resilient economy

What is the news? Amidst the hopes of a V-shaped recovery of the Indian economy, the National Statistical Office (NSO) had recently estimated that India’s economic growth has surged to 20.1% in the April-June quarter, despite a devastating second wave of COVID-19. It also stated that the gross domestic product (GDP) had contracted by 24.4% in… Continue reading Building a resilient economy

Animal Spirits Are Back (On upsurge in investment)

Source: Times of India Relevance: Private investment to boost economic growth post-COVID Synopsis: The post-demonetisation, post-GST, and post-Covid economy is witnessing the rise of a new middle sector among Indian companies, that want to grow. Context The pandemic that caused economic damage all over the world has led most governments to provide enormous stimulus support… Continue reading Animal Spirits Are Back (On upsurge in investment)

First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation, 2018-19

News: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2018-19. Facts: Key Highlights: Gross Domestic Product: Nominal GDP or GDP at current prices for the year 2018-19 is estimated as ₹ 189.71 lakh… Continue reading First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation, 2018-19