drskmukherjee

On 19th March PM Modi appeared on TV for the nation wide appeal to the people for self isolation through self imposed Janata Curfew to fight against Coronavirus. He just messaged the nation on the importance of minimal human contact.  A week  later he appeared again on 24th March to declare complete countrywide lockdown for 21 days so as to attempt at breaking the chain of spread out of the killing virus . India is not at all prepared to deal with the killing pandemic even till now. PM Modi has left the nation at limbo, still at the stage of Task Force discussions and some hurried and firefighting preparations.  While other countries have taken steps to wrestle with Coronavirus outbreak long back since December-January, the government in India spent the whole of January and February in its pursuit of a Hindu Muslim hate-filled agenda rather than a health concerned one. But we as citizens did our bit to protect us. Most of our residential managements in Rohin...

The government issues the currency notes known as the "Legal Tender" and accepted by all. RBI is the Central bank of India that prints currency notes and it bears the Governor's signature on it. It is the responsibility of RBI to 1. control the supply of money and decide as to how much money is to be made available for the industry or the economy  and 2. "cost of credit", ie, the price that the economy has to pay to borrow that money. Supply of money and cost of credit are closely monitored and controlled by RBI being a Central bank. The inflation and growth in the economy are primarily impacted by these two factors -- supply of money and cost of credit. A bank under cash reserve ratio (CRR) a certain percentage of the total bank deposits needs to be kept in the current account with RBI which means banks do not have access to that much amount for any economic activity or commercial activity. Banks don’t earn anything on that. CRR has been slash...

It is not the people of any nation responsible for the surges and uncertainty in economic policy, increased systematic risk, and thereby, the cost of capital in the economy. As a result, we have higher economic policy uncertainty lowered investment, especially because of the irreversibility of investment.The government we choose may kill or add life to economy. The economy of any country must be capable and prepared to support the nation and her people in any sudden and crisis ridden eventuality.  Covid-19 has come at a worse time for India, already in the middle of an economic slowdown. It has led to an economic lockdown in India. In comparison to other countries India has no plans of relief measures to bailout the people of india from the outbreak of this killing disease. Let us see what other countries have to offer for their people. CHINA Chinese authorities allocated 110.48 billion Yuan ($15.93 billion) for coronavirus-related funding. China's central bank launched $...

I have been, like all, following the global outbreak of coronavirus disease which has now thus been  declared pandemic (a disease that spreads over a whole world) by the World Health Organization (WHO) on March 12, 2020.  My reactions are to 1) accept coronavirus as a fatal disease and 2) analyse its impact on our economy. First and foremost, we must trust our experts and professionals who have expressed in their best possible ways not to take the disease lightly. It is a very dangerous disease. Each one of us needs to understand the benefits of precautions to stay indoors, observe self imposed isolation, go out the bare minimum to purchase medicines, groceries, vegetables and fruits. It is best to relieve our domestic help (with paid leave), discourage visitors and maintain conscious efforts at cleanliness and following the health department advisories in a true letter and spirit. It is better to feel terrorised by this killing disease and take precautions than be des...

Delhi election is over for long. The debate is still rife as to how Delhi government is distributing power cheaper along with free electricity upto 200 units. It is needful to understand as to why such schemes of cheap and free electricity have not been made available in other states in India like UP, Rajasthan, Karnataka, Bengal or Bihar. Summer is going to arrive soon when the consumption of electricity will also increase. The state distribution companies (DISCOMs) have already increased the electricity charges. States like UP and Rajasthan have recently increased the electricity tariff for consumers as many other states had already increased the cost for consumers as recently as December last year. What we need to understand is that the increase in electricity cost is not due to less supply or less production -- rather increase in cost is due to improper or non-implementation of electricity reforms and corrupt practices of the government to hide the inefficiencies, irregularities ...

India was holding 10th rank and not 11th, as often claimed by PM Modi, in global economic system when Modi assumed power on  26th May 2014. India remained at the 10th rank for 4 continuous years from 2011 and 2014 as per IMF report. The International Monetary Fund (IMF) shows that Indian economy rose to $2.0 trillion in the year 2014 from  $1.88 trillion in 2013.  So the Modi government inherited GDP, as the entire countrymen did, of $2.112 trillion in 2014, which increased, to  be exact, to $2.301 trillion in 2015.  The GDP of year 2016 was $2.264 trillion. In the year 2017 India's GDP was $2.597 trillion and India became 5th largest economy. India recorded a GDP of $2.73 trillion in 2018 and slided to 6th ranking. In 2019 India reached to $2.94 trillion to be at 5th ranking again. Today India has achieved nominal GDP of $2.94 trillion but the nominal GDP per capita comes down to $2,170, that is, 126th in world ranking. Hence it is useless t...