Setting things right: Indian economy amidst global and local shocks
Webinar Link
Meeting No: 2516 797 2534
Password: economy
Abstract
In the first upgrade of India’s growth forecast by an international agency amid the global turmoil, the World Bank said the revision was due to higher resilience of the Indian economy to global shocks and better-than-expected second quarter numbers. The World Bank has revised upwards India’s economic growth forecast from 6.5 per cent for India to 6.9 per cent for 2022-23, saying the world’s fifth largest economy was showing higher resilience to global shocks. In the first upgrade of India’s growth forecast by an international agency amid the global turmoil, the World Bank said in its latest India Development Update that the revision was due to higher resilience of the Indian economy to global shocks and better-than-expected second quarter numbers.
India’s economy grew at 6.3 per cent in September quarter of 2022-23 as compared to 13.5 per cent in the preceding June quarter, mainly on account of contraction in output of manufacturing and mining sectors. Amid existing global challenges like tightening monetary policy cycle, slowing growth and elevated commodity prices, the Indian economy will experience lower growth in the 2022-23 financial year compared to 2021-22.
The presentation will discuss India's performance in recent times and it will further provide the policies to improve on the situation
About the Speaker
A Ph.D from American University (USA), Ajitava Raychaudhuri is currently Professor and former Head and Coordinator of Centre for Advanced Studies, Department of Economics, Jadavpur University, Kolkata, India. He also held the Chair of the Planning Unit, Jadavpur University instituted by the erstwhile Planning Commission of India. He was a senior Fulbright Scholar at Economic Growth Center, Yale University, Reid Hall Scholar in Residence of Columbia University, Paris Campus as well as visitor to SOAS, University of London. He was visiting faculty at Indian Statistical Institute (Calcutta), Calcutta University and Indian Institute of Foreign Trade (Calcutta). He had undertaken several important projects from UNESCAP, ADB, World Bank, UNDP, PEP, GDN, IPPG, SANEI, Finance Commission, Planning Commission etc. He has also written numerous papers in international and national journals and edited books. Among his notable books are India’s Exports: An Analytical Study (with Sugata Marjit) published by Oxford University Press, International Trade in Services in India: Implications for Growth and Inequality in a Globalising World (with Prabir De) also from Oxford University Press and Myanmar’s Integration with the World (edited with Prabir De) published as Palgrave Macmillan series by Springer. His forthcoming edited book is on World Trade and India: Multilateralism, Progress and Policy Response to be published by Sage Publications. He also authored two District Human Development Reports for West Bengal (with Sushil Haldar) published by UNDP and Planning Commission of India.