THE recent press release by the National Statistical Office on the provisional estimates of National Income quarterly estimates for the fourth quarter (January to March) together with the provisional estimates for the year 2022-23 deserves attention. It provides estimates for GDP and related figures of 2022-23 in current and constant 2011-12 prices with the corresponding figures of 2020-21 (2nd Revised estimates) and of 2021-22 (1st Revised Estimates).The crucial headlines of the statistics from the recent press release are the following.

SINCE the global financial crisis, investment growth has not recovered to its pre-crisis level worldwide. India despite being a fast growing economy, the growth in gross fixed capital formation shows a declining trend in the past two decades. In the post-crisis period, the governments introduced various institutional reforms in the rubric of ‘ease of doing business’, also corporates could have greater access to finance and external borrowings and public investment was geared to crowd in private corporate investment.

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE recovery of the economy immediately after the pandemic was reflected through positive and increasing growth in various sectors as businesses were back to normalcy. Much of these growth rates have been reflective of the pent up demand accumulated due to lock down and related disruptions.

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE uninterrupted supply of labour in capitalism is ensured by a socio-cultural arrangement of producing the ‘worker’ within family and household. This is not a capitalist site of production where goods and services are produced as commodities by engaging wage labour.

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE Communist Manifesto begins with the profound observation that the history of all hitherto existing societies is the history of class struggles indicating history in the making through class contestations. Capitalism has undergone different regimes of accumulation coordinated through institutions and regulations conducive for particular regimes.