Thirty years after Manmohan Singh’s first Budget, as the Indian economy is trying to come out of its largest ever contraction, a look back at how the nature of economic challenges has changed over the last three decades.

By @Roshanjnu
hindustantimes.com/india-news/the…
How serious was the immediate crisis before 1991 Budget?

#ManmohanSingh’s 1991 Budget speech made no attempt to hide the extent of the economic crisis prevailing then.

Read full report by @Roshanjnu - bit.ly/3hVdAUo Image
How bad was the foreign exchange and inflation situation at the time?

CPI (IW) had been in double digits from October 1990 onwards when Singh presented his Budget in 1991. It would stay above the 10% mark until September 1992.

Full report by @Roshanjnu - bit.ly/3hVdAUo Image
The share of high technology exports in India’s export basket has barely increased; from 2% in 1991 to 6% in 2019, the latest period for which this data is available.

For China, this share increased from 9% in 1992 to 35% in 2019.

Report by @Roshanjnu: bit.ly/3hVdAUo Image
The question of fiscal prudence bringing a pro-cyclical element to economic policy is extremely relevant given the fact that India’s fiscal stimulus to deal with the pandemic’s economic shock has been among the smallest among major economies.

Read more bit.ly/3hVdAUo Image
As per CMIE, share of direct taxes in total tax revenue of Centre, states fell from 18.3% in 1981-82 to 16.3% in 1990-91

This'd increase consistently in post-reform period to reach peak of 43.2% in 2009-10

It fell to 36.1% in 2015-16 before rising marginally to 38.9% in 2019-20 Image

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More from @htTweets

23 Jul
#HTNumberTheory | More needs to be done if India wants to achieve its stated target of vaccinating its entire adult population of 940 million by the end of 2021.

By @naalmot | #COVIDVaccination

hindustantimes.com/india-news/six…
#HTNumberTheory | Daily jabs are off their peak, but still higher than before

In the past week, the pace of #COVIDvaccinations has increased again. While it is still short of the peak of 6.39 million, it is significantly higher than what it was before.

hindustantimes.com/india-news/six… Image
#HTNumberTheory | The current pace needs to increase to meet the December 31 deadline

India’s adult population, as on March 1, is 940 million. This means that 65% of the adult population has not received even one dose of vaccines until now. #CovidVaccine

hindustantimes.com/india-news/six… Image
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22 Jul
#LIVE: Cabinet briefing by Union Minister @ianuragthakur and MoS @Murugan_MoS starts.

For real-time updates: hindustantimes.com/india-news/bre… Image
#LIVE: A central University is all set to be established in Ladakh, says Union Minister @ianuragthakur in today's #CabinetBriefing.

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#LIVE: There will be an establishment of Ladakh Integrated Infrastructure Development Corporation Limited (LIIDCO): Union Minister @ianuragthakur in today's #CabinetBriefing.

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11 Jul
In poll-bound #Uttarakhand, Delhi Chief Minister @ArvindKejriwal makes 4 big announcements, including free electricity
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Track more updates here: hindustantimes.com/india-news/bre…
@ArvindKejriwal "The tasks which have not been done in Uttarakhand for 70 years have been completed in Delhi," says Arvind Kejriwal in the poll-bound state
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10 Jul
#HTNumberTheory | In this report, @Roshanjnu looks into three things that will shape the economic narrative when the BJP seeks a third consecutive mandate in 2024

Read: bit.ly/2UDAYN0
#HTNumberTheory | Stock market rally can sustain a 'feel-good’ sentiment among the rich

Surging stock markets have helped sustain India’s image as an investment destination in external markets

Read: bit.ly/2UDAYN0
…but a fall in already stagnant private sector earnings across classes will hurt

The pandemic’s economic shock has inflicted severe damage to labour earnings across the board as the economy sees what is clearly a profit-led recovery. bit.ly/2UDAYN0

#HTNumberTheory
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9 Jul
"Despite the fact that so many things are changing in our world...our time tested and trust-based relationship remains very strong, continues to grow": EAM @DrSJaishankar during Joint PC with Russian Foreign Minister, in Moscow

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@DrSJaishankar "Overall our sense of economic partnership and science and technology partnership is very positive. It was a very good discussion": External Affairs Minister @DrSJaishankar in Russia

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9 Jul
#HTNumberTheory | Is the second wave lingering or is this the onset of the #Covid19 third wave? Here are four charts that explain this -

By @naalmot

hindustantimes.com/india-news/sec…
#HTNumberTheory | New #Covid19 infections are not rising, but they also are not falling fast enough

By @naalmot

hindustantimes.com/india-news/sec… Image
#HTNumberTheory | Rise in positivity rate is a cause for concern

While new #Covid19 cases continue to fall, the positivity rate has already reversed its falling trajectory | By @naalmot

hindustantimes.com/india-news/sec… Image
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