Through the Looking Glass

Notes from a Live Webinar co-hosted by Axis Bank and agribazaar The panel was represented by senior government officials, investors, developmental agencies, agri-industrialists and a banker. The reforms undertaken by the Government were outlined and explained by the four Secretaries to the Government of India. These reforms have been variously called the "watershed moment", "1991 moment", and the "unshackling" of Indian agriculture, especially since they converted the Covid-19 crisis into a massive opportunity. A good start with many reforms With almost half a billion people associated directly or indirectly with Indian agriculture, any change here impacts incomes, jobs, social status, and prosperity for them. These changes fit in well with the Government's commitment to double farmers' incomes. The three big changes that have taken place are: (1) abolition of the monopoly of local mandi, or agriculture yard, where the farmer was required to ...

Financial Express Shape of economic recovery will determine employment, debt and exchange rates The immediate fiscal deficit dynamics and growth outcomes for India post Covid-19 lockdown have been the subject of intense analysis and discussion. The human crisis of lives and livelihood did demand both an immediate and urgent response. With the lockdown now opening and economic activity picking up, it is important to look beyond FY21 to see how India could fare in the first half of the next decade. Discussions have focussed on whether the economic recovery will be L, U, V, W, or a swoosh, a la the logo of a famous sports brand. These descriptors refer to the shape of the chart when plotting real GDP (on y-axis) over time (on x-axis). The GDP in FY20 is estimated to be Rs 204 trillion (Rs 204 lakh crore) and if it had continued to grow at 8% in real terms, GDP would have reached Rs 300 trillion by FY25. Depending on the inflation trajectory, the nominal number would have been highe...