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Sunday, June 13, 2021

P Vaidyanathan Iyer


Tight fist and fingers crossed: Fiscal relief this year is 1.1 per cent of GDP
Mon, May 18, 2020

In her fifth and final tranche of the AtmaNirbhar package announced on Sunday, Finance Minister Nirmala Sitharaman allocated a chunk of the Centre’s fiscal relief — Rs 40,000 crore or 0.2 per cent of GDP — as additional allocation to MGNREGA over and above the Budget Estimate of Rs 61,500 crore.

Explained: Breaking down Centre’s Atmanirbhar package
Wed, May 20, 2020

Covid-19 India Economic Package: Much of the May 12 Atmanirbhar package of Prime Minister Narendra Modi totaling Rs 20 lakh crore and elaborated over the last five days by Sitharaman has been liquidity driven, with little burden on the exchequer.

Why govt’s cost this year for Rs 5.94 lakh crore MSME package is Rs 25,500 crore
Thu, May 14, 2020

The government’s skin in the game is limited to credit guarantees. For loans to MSMEs, it amounts to guarantees on credit worth Rs 3 lakh crore on collateral free loans.

Math behind Rs 20-lakh crore economic package: It is 10% of GDP but about half is already factored in
Fri, May 15, 2020

Message still hunker down and tide over, additional fiscal outgo this year may not be more than Rs 4.2 lakh crore.

Economy headed for contraction, less fiscal space for big stimulus
Wed, Apr 22, 2020

If that happens, it won’t be unique to India — the IMF expects the Covid pandemic to severely impact growth across regions in its latest World Economic Outlook. It expects the US economy to shrink 5.9 per cent and the global economy to decelerate 3 per cent.

Explained: Why the word ‘fiscal’ means a lot when MPC members talk about it
Wed, Apr 15, 2020

As far as the monetary policy is concerned, the RBI did what it could. But what were the expectations of the MPC members from the government?

Chief Ministers will take up with PM today: Shortage of funds to next steps
Thu, Apr 02, 2020

While most states have written letters to Prime Minister Narendra Modi asking that the Centre clear their pending dues, they are likely to press these demands at a video conference he has scheduled on Thursday.

Rathin Roy: ‘Govt needs to protect national wealth and … alleviate loss of national income as far as possible’
Thu, Apr 02, 2020

He talks about the priorities, pain points, and fiscal needs of what he calls a “warlike economy”.

‘In warlike economy, money needs to be directed to fight, deal with pandemic consequences’
Wed, Apr 01, 2020

In an interview to P Vaidyanathan Iyer, Director at the National Institute of Public Finance and Policy Rathin Roy talks about the priorities, pain points, and fiscal needs of what he calls a "warlike economy".

Big booster dose but interest waiver could have given small borrower a firmer cushion
Sat, Mar 28, 2020

RBI Governor Shaktikanta Das Tuesday slashed the policy rate, flushed the financial system with liquidity using multiple instruments, and used conventional as well as unconventional tools to support the economy.

Rs 1.7 lakh crore Covid-19 package: Many who have been hit still left out, relief too little
Fri, Mar 27, 2020

The central government’s package, as it is, comes a week after Kerala first announced a Rs 20,000-crore support for its people. Many states including Uttar Pradesh, Uttarakhand, Punjab, Telangana and Rajasthan followed suit.

Unorganised workers have been hit hard, need direct payments, India Inc tells PM Modi
Tue, Mar 24, 2020

Over the last few weeks, many daily wage labourers and part of the unorganised or informal sector could not find work because of the lockdown.

Economy infected: Task force has a prescription, concerns mount over delay
Fri, Mar 20, 2020

Over the last one month, the government pulled out all stops to contain the spread of the Covid-19. During this period, economic ministries including Commerce and Industry, Heavy Industries, Road Transport, Civil Aviation, Pharmaceuticals and Consumer Affairs met and heard stakeholders.

Explained: Why capping withdrawals from Yes Bank is a terrible idea
Sat, Mar 07, 2020

Capping withdrawals for Yes Bank depositors is foolish for two specific reasons, particularly when the economy is floundering with growth rates of around 5%.

Prachi Mishra: ‘Growth is important for jobs… If we reach 8-9%, automatically there’ll be employment creation’:
Sat, Mar 07, 2020

Speaking about RBI's stance on inflation, Dr Prachi Mishra said, "Core inflation is about 30-40 per cent of the basket, which is low compared to other countries. But that’s a standard macroeconomic indicator of what stage of the cycle you are at".

RBI Governor Shaktikanta Das: Focus on growth intact, will not let NBFCs collapse
Wed, Feb 19, 2020

Asserting that the central bank has the space for independence and autonomy, RBI Governor Shaktikant Das said all decisions taken in the last year “are our own objective, independent decisions”.

Shaktikanta Das: ‘If opinions differ… better I address govt directly, internally… focus only on outcome’
Wed, Feb 19, 2020

RBI Governor Shaktikanta Das underlined the central bank’s focus on growth and financial stability, its relationship with the government and the challenge in sustaining the first trickle of positive numbers.

Budget was expected to give positive impulses to the economy. It took no bold steps
Wed, Feb 05, 2020

The government has lulled itself into imagining the slowdown is cyclical, and counter-cyclical policies — fiscal and monetary — can reverse the growth path. That be so, but has the government moved with conviction to pursue such policies?

Union Budget 2020-21: Little room to spend, Govt plays safe on fisc, banks on demand
Sun, Feb 02, 2020

Union Budget 2020-21, presented by Finance Minister Nirmala Sitharaman Saturday, carried a visible imprint of the Prime Minister’s fiscal conservatism, inasmuch as it kept a tight leash on expenditure, tacitly admitting there was little headroom for higher spending.

Holding rates of interest: RBI cites inflation which raises questions
Sat, Dec 07, 2019

The retail inflation of 4.6 per cent in October was largely due to increase in food prices, which is seasonal, and more transient in nature.

Explained: Why GDP slowdown isn’t a surprise and how Govt and RBI saw this coming more than a year ago
Sat, Nov 30, 2019

This sharp powering down has disrupted the plans of Corporate India. Companies across sectors — from those making tractors to toothpaste — had, over the last two decades, been primed to plan for a trend growth rate of 8 per cent.

Key sales numbers show rural demand may dip further
Mon, Nov 18, 2019

Warning signs across FMCG, tractors & 2-wheelers, gold, real rural wages

Express Adda with Nirmala Sitharaman: ‘Difficulty is not in taking a call on reforms, it’s in moving forward’
Thu, Nov 14, 2019

Union Finance Minister Nirmala Sitharaman was the guest at the recent Express Adda held in Mumbai. She spoke to The Indian Express on India’s decision to not join the RCEP, boosting investment and ushering in reforms

The Shell Game
Sun, Nov 10, 2019

The unravelling of the India leg of the global off-shore investigation that took the world by storm.

A to Z of Ayodhya verdict
Sun, Nov 10, 2019

Ayodhya verdict: The 1,045-page order — its context and contents — broken down.