More Indians Choosing Non-AC Travel, Raising Doubts About Real Economic Growth
The government points to macroeconomic indicators, such as rising GDP, higher tax collections and increased infrastructure investment, as signs that the Indian economy is growing. But growth at the national level does not always translate into better living standards for most citizens. A recent report on Indian Railways provides a useful lens to examine whether this growth is widely shared.
IMF Rejects India’s 8% Growth Forecast as Unrealistic
There’s a significant disconnect between the official narrative about India’s economic growth and the underlying reality. The International Monetary Fund’s (IMF) spokeswoman Julie Kozack has clarified that the views of Krishnamurthy Subramanian, India’s representative at the IMF, do not represent the IMF’s stance. The clarification followed Subramanian’s forecast of 8% growth for India, contradicting the IMF’s official projection of 6.5%.
India’s Economic Boom Has Deepened Inequality, Report Says
India’s recent economic growth has led to a pronounced increase in income and wealth inequality, surpassing levels observed during British rule, according to a new study by the World Inequality Lab and as reported by Article 14. The research indicates that the concentration of wealth in India is now more severe than in countries like the United States, Brazil and South Africa, with the top 1% of the population holding a disproportionately large share of the nation’s wealth.
Are You Part of India’s Economic Success Story?
India is in the spotlight at the 54th annual meeting of the World Economic Forum in Davos, which began on Jan. 15, with an impressive growth rate of 7.3%, which places the country as the fastest-growing major economy in the world. But is this growth benefiting the majority of India’s workers? An analysis published in Bloomberg answers the question.
A Reality Check for India’s Economic Growth Projections
Predictions for India’s economic growth in 2023-24 are optimistic. The Reserve Bank of India and the International Monetary Fund project growth rates of 6.5% and 6.3%, respectively. On paper, these numbers paint a picture of a nation swiftly rebounding from the pandemic’s blows. But is this the whole story?
How India’s Persistent Trade Deficit Affects Us
India’s trade scenario in October presented a startling revelation. The country’s merchandise trade deficit, a measure of how much more we import than we export, hit a record high of $31.46 billion, after months of persistent high deficit. It depicts the bad health of our economy.