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Highlights



EGROW Webinar by Ramesh Chand

EGROW Webinar by E. BijoyKumar Singh & Indraneel Bhowmik

Twelfth EGROW Shadow MPC Meeting held on 23rd Sep
Recommendation of EGROW Shadow MPC
  1. Recommendation of the EGROW Shadow MPC Members
    1 Member - 50 bp in October
    1 Member - 25 bp in October
    1 Member - 15 bp in October
    3 Members – Pause

  2. Forecast of the EGROW Shadow MPC Members
    1 Member – reduction by 25 bp
    1 Member – reduction by 15 bp
    4 Members - Pause

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EGROW Webinar by Manorajan Sharma, R.K. Anand & Arvind Mohan

EGROW & ASSOCHAM Webinar by Ratna Sahay

EGROW Webinar by Ashok Vishandass

EGROW Webinar by Dr. Arvind Virmani

Eleventh EGROW Shadow MPC Meeting on 31st July
Key Takeaways
  1. Pandemic represents a unique Supply cum Demand Shock
  2. Monetary (credit & liquidity) policy has to focus on financial stability
  3. Inflation is high, mainly on account of food, and could be temporary
  4. Focus on Transmission of interest rates and credit delivery
  5. Recovery needs a counter-cyclical rise in credit growth.
  6. NBFC sector needs serious attention.
  7. Widen corridor between Repo and Reverse Repo rate
  8. Extend HTM to banks to incentivize them to invest surplus money market liquidity without fearing MTM hits.
  9. Monetary Policy should prepare to accomodate fiscal policy
  10. Need to relax Basel Norms as it could restrict credit flow to markets/industry
Recommendation of EGROW Shadow MPC
  1. Reduction in Repo Rate

EGROW Shadow MPC Members
1 - 50 bp in August + 50 bp in October
1 - 25 bp in August
1 - 25 bp in August + 75 later in the year
3 - Pause

Guest Panelist from ASSOCHAM
1 – 50 bp in August

  1. Widening the corridor between Repo and Reverse Repo

2 – Members of EGROW Shadow MPC

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Recent Events


EGROW Expert says - Contemporary issues
Dr. Arvind Virmani, EGROW Foundation
Q1. What has to be done to increase public expenditure?

A1: On the manufacturing side, consumer durables, Capital goods and construction are among the worst sufferers from the Pandemic so far. Existing Public investment & infrastructure programs must be accelerated sharply.

Contact Services like Restaurants, hotels, travel, tourism, retail trade, entertainment, are the worst directly affected by the Pandemic. The only way to revive demand for these services is to undertake public health expenditures which will reduce fears of infection and death from the corona virus. Public health expenditures on communicable and infectious diseases and public health education in media and schools must also be stepped up. The “Swatch Bharat” mission should be expanded to promote the modernization of urban, semi-urban sewage systems. State governments should set up similar schemes for semi-rural & rural areas.

A certification system should also be set up to certify Viral load/viral quality of air in public meeting rooms, halls and other large venues. The government should start a big loan program for manufacture & subsidized purchase of Ultra-violet(UV-C) filtration systems for centrally air conditioned spaces and UV lights for cleaning of all closed public spaces, particularly bars, party rooms and public bathrooms. Ventilation improvements in workplaces, offices, shops and commercial establishment could either be part of this program or be included in phase 2.

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Declaration of EGROW Essay Competition Result

Time will Tell

By Surjit S Bhalla and Arvind Virmani

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Intra-Country Spread of Corona Virus: Wo Index

Intra-Country Spread of COVID and the role of Lockdowns

Covid19 Day 150: What we know — and what we don’t know

Covid19 Deaths: Variation Across Countries


Covid-19 updates

MSME के लिए चैंपियन्स पोर्टल

Discussion on PM's clarion call for self-reliant India at CII annual session

Privatisation of Public Sector Enterprises

RBI की ब्याज दरों में कटौती और असर

Atmanirbhar Bharat: Discussion on RBI's key announcements

Bad Bank

Will Doubling Spend Solve India's Healthcare Problems?

Decoding "Atmanirbhar Bharat"

आत्मनिर्भर भारत : 20 लाख करोड़ का पैकेज

Discussion on PM Modi's Rs 20 lakh crore relief package

Different strokes: A guide to lifting of lockdown, resuming production

Brick by brick: A revival plan for coronavirus-hit Indian economy, industry

Growth Implications of Pandemic

India in the red

लॉकडाउन और राज्यों के वित्तीय हालात

Urgent cures for Covid-19 economy (Podcast)

Urgent cures for Covid-19 economy

Corona pandemic presents the greatest opportunity for radical reforms

India may cap Covid deaths below 7,000, pandemic seen peaking in June

Coronavirus crisis: Govt must ensure food for all, prevent more people from falling into poverty

Covid-19 lockdown: Is there a road map for economic revival?

How COVID-19 will reset trade & commerce

Localising Globalisation

Jaan Bhi Jahaan Bhi

Impact of Covid-19 on the economy and the way forward

Tackling Covid-19 in Monsoon

India as new Destination for Global Business

Impact of Covid-19 on Indian economy

Intra-Country Spread of COVID and the role of Lockdowns

Intra-Country Spread of Corona Virus: Wo Index

Covid-19 may drag GDP growth down to 2.3%

Are we headed for lockdown 3.0?

Can India match Chinese success in post-Covid global economy?

Restoring Global Supply Chains

The Pandamic and The Nation

Coronavirus lockdown has slowed the spread of the deadly virus

कोरोना संकट: अर्थव्यवस्था की चुनौतियां और भविष्य

जान भी, जहान भी

Covid-19: An opportunity for battered banks to reinvent themselves

India takes a hit due to COVID-19 lockdown, What lies ahead?

Global Markets and Economy - The Big Picture

Post Covid World- Time to expand UNSC

Amid coronavirus gloom, a great opportunity beckons India

Open or not to Open the Lockdown?

'Lockdowns Are Costly But Govt's Hand Was Forced By Irresponsible Behaviour'

Covid-19: Enlist local bodies in fight against disease, hunger

Impoverished farmer and high product retail prices the new normal

MSME sector: Eight ways India can back its small enterprises

Impoverished farmer and high product retail prices the new normal

MSME sector: Eight ways India can back its small enterprises

An alternative safety regime for India after we lift the lockdown

Time to re-calibrate ‘India Vision 2020’

Socio-Spatial Distancing: Alternative to Lockdown

Implications of Pandemic & Consequent Economic Crisis: What to Do About It

This crisis is also an opportunity to radically transform economy

‘Good beginning by govt, RBI; but much more needs to be done’

Coronavirus: India should draw from past experience in fighting pandemics

Coronavirus outbreak: Farm sector will be the hardest hit

How To Handle Pandemic Crises?

Surviving Coronavirus scare: A wish list for Indian economy, industry

Where's The Plan To Tackle Eco Impact Of COVID-19

Effects of COVID -19 on Indian & Global Economy

Research

Policy for Post-Lockdown Indian Economy

Arvind Virmani
Download the paper in pdf … The Indian economy is during Q2 and Q3 of 2020-21, in the transition from Lockdown to Normalization. Starting around March 21, 2020 the Indian Govt imposed one of the most comprehensive lockdowns, w imposed anywhere in the world. Only essential goods and services, constituting an estimated 40% of GDP and 55% of employment were exempt from the lockdown [Virmani and…
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Effectiveness of Containment Policies: Corona Virus Cases and Death Rates

Arvind Virmani
Download the paper in pdf … 1. Introduction … One of the Intriguing questions arising from the Pandemic crisis, is the effect of various social and economic containment/lockdown policies adopted by different governments. Only a few studies have used panel data to estimate the impact of specific containment lockdown measures on the growth of Covid 19 cases and of deaths. In this paper we estimate…
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Goods and Services Tax: Structural Reform

Arvind Virmani
Download the paper in pdf … Abstract … The Goods and Service Tax was introduced in 2017 with the objective of simplification of India’s taxation structure, increasing voluntary tax compliance and reducing tax evasion and corruption. Since then, several changes have been made to the GST structure by the GST Council, to resolve some of the challenges faced by the GST regime, but some have added to…
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Lockdown Economics: Fiscal Policy during Pandemic Crises

Arvind Virmani
Download the paper in pdf … Introduction … There is a widespread misunderstanding of the economic nature of the lockdown and the effects of monetary and fiscal policy during a lockdown. This note attempts to clarify the different elements, so that correct policies can be devised, with reference to Indian lockdown. However, the analytical approach and several conclusions are equally applicable to…
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Chairman
Charan Singh
Chief Executive
Ashok Vishandass
Director
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Director
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