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India should opt for income support so that pandemic does not turn into a financial crisis -Jahangir Aziz

-The Indian Express What is needed is ample income support for households and firms now so that the recovery is not hamstrung by excessively damaged balance sheets Even a cursory reading of Brazil’s recent history will confirm that the adoption of the all-encompassing cap on government spending in late 2016 was critical in rescuing the economy from the crisis of 2014-16. After riding the commodity boom of the 2000s, economic mismanagement and a...

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Fight against hunger disrupted by coronavirus-induced recession -Jagriti Chandra

-The Hindu Between 8.3 crore and 13 crore people globally are likely to go hungry this year. Between 8.3 crore and 13 crore people globally are likely to go hungry this year due to the Economic Recession triggered by coronavirus (COVID-19), warns the State of Food Security and Nutrition in the World (SOFI) 2020 report. Estimates drawn from data available till March 2020 show that almost 69 crore people went hungry in 2019...

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In this time of crisis, the most urgent imperative is to protect underprivileged families from starvation -SY Quraishi

-The Indian Express There is an urgent requirement to put money in the hands of the impoverished to support them during the pandemic. This has been the refrain of the Nobel laureate Abhijit Banerjee. Further, the government must tighten the implementation of its critical schemes related to nutrition, food security and healthcare. The COVID-19 pandemic is flaring up into a mass humanitarian crisis. Its foremost victim will be innocent children who have...

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The Great MSME Stimulus Muddle -Kulwinder Singh Sethi

-Newsclick.in The Rs 3 lakh crore credit guarantee scheme for micro, small and medium enterprises is unclear, contradictory and practically difficult to implement. The scheme may create more problems than it solves. On May 12, in his televised address to the nation, Prime Minister Narendra Modi announced the Atma Nirbhar Bharat Abhiyan or the “campaign to make India self-reliant,” comprising what was claimed to be a Rs 20 lakh crore package to...

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Utsa Patnaik, professor emeritus at Jawaharlal Nehru University, interviewed by TK Rajalakshmi

-Frontline.in Interview with Utsa Patnaik, professor emerita of economics, Jawaharlal Nehru University. By T.K. RAJALAKSHMI THE FALLOUT of the decision of the National Democratic Alliance government to demonetise currency of higher denominations has been felt across all sections of people. There are concerns that it will lead to an overall economic slowdown given the acute shortage of currency for industrial and agricultural operations. The impact on agriculture and those dependent on agriculture...

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