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GDP/Economic Growth:
India's GDP has been slipping since mid 2018 from 8 per cent to 5 per cent in the second quarter of 2019. and has declined further to 4.5 percent in the third quarter. The decrease in economic growth marked an ending of India's fast growing economy with an increasing real GDP growth for 6 consecutive years. The economic growth of a country can be calculated using the expenditure approach where Aggregate Expenditure = Consumers' Consumption + Firms' Investment + Government Spending + Net Exports ( Imports - Exports). This would be a key equation which would be referred back to when determining how different factors would affect the real GDP of India.
Unemployment:
The unemployment rate tells us the percentage of people who are employed out of the whole labor force. It is a key indicator of labor market performance.
Currently India is facing a three year  high unemployment rate of 8.19% in October 2019 , and it is the highest level since August 2016, as seen from Fig 1.1 . The unemployment rate is calculated using the following formula: (number of unemployed / labor force) x 100%. Unemployment can also be  differentiated to 4 different types which include cyclical, structural, frictional seasonal unemployment. Any factors which affect any of the 4 types of unemployment will in turn affect the overall unemployment of a country.
Inflation:
It is the continuous and sustained increase in the general level of prices of goods and services in the economy. India is facing inflation in its supply of food, which prevented the Indian government from further cutting tax rates to help the economy. Currently the overall inflation rate of India is at 3.44%
which is a little over the average worldwide inflation rate of 3.41%. Since India has an inflation rate above the average, it would mean that India has a higher cost of living and this would affect the majority of people living in India as they have fixed income / low salary with no trade union backing.
Fiscal policy:
Fiscal policy is government policy which adjusts its spending levels and tax rates to monitor and influence a nation's economy as well as directing a nation's economy goals.
Keynesian:
Keynesian model is a theory whereby demand drives the economy. Government intervention is required in stimulating the economy. Finance minister of India decreased the tax rates, due to presence of negative GDP gap.

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Summary of article:
To boost investments in India, FM Nirmala Sitharaman cut the corporate tax rate to 22% minus exemptions and tax holidays, from 30% earlier. This would allow a higher return on investment. Additionally, this move would also give an indication to investors that India is being serious, about being open for investment and for business.
The article reflects insecurity from investment in India as the investment structure is not in good shape and people are not willing to risk investing.

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New Delhi: India's move to cut the corporate tax rate sends a strong signal to global investors that it is serious and open for business, said Colm Kelly, global tax and legal services leader at PwC.

"India has always been on the agenda for foreign investors because of the scale of access to market and business opportunity it represents...It (corporate tax rate cut) does two things. It improves return on investment, and I think it sends a very strong signal to investors, about India being serious, about being open for investment and for business," Kelly told ET in an interview.

In September, FM Nirmala Sitharaman cut the corporate tax rate to 22% minus exemptions and tax holidays, from 30% earlier.

Kelly said the rate cut improved one key factor that investors take into account before making investments. The government now needs to put in place a better dispute resolution mechanism to provide certainty to investors, he added. "We need to have strong dispute resolution mechanisms in place...getting prior certainty on certain positions for investors is also important," he said.

The government is trying to bring in some structural measures, such as Advance Pricing Agreements to give certainty, but there is a need for continuous work on that front, he said.

Asked about the growing clamour to reduce personal income tax rates, Kelly said it was not uncommon for personal tax levels to be relatively higher around the world. "...Even when countries are reducing their corporate tax rates, they need to retain the ability to raise money to support public investment," he said.

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India's corp tax cut a strong signal to investors: PwC Exec

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Pricewaterhouse Coopers senior executive Colm Kelly said the corporate tax sends a strong signal and the earlier rate cut improved one key factor that investors take into account before making investments. The government now needs to put in place a better dispute resolution mechanism to provide certainty to investors.

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GDP/Economic Growth:
In order to prevent the GDP to decline further, the government implements a fiscal policy where corporate tax would be cut down from 30% to 22%. This would attract more investors to invest in India as they will get higher returns as compared to before due to a lower corporate tax rate. Since firms' investment is part of the Aggregate Expenditure equation, it would thus affect the Real GDP of India. When investment increases it would lead to a increase real GDP due to an increase in production after investors create more job opportunities in India which leads  to more goods and services being produced. Hence market value of these additional goods and services would be higher and thus leads to a higher real GDP.
Unemployment:
There will be higher rate of investment due to a drop in corporate tax as explained in the GDP / Economic Growth tab. As more firms invest in India, there would be more job opportunities as firms from other country set up their branches in India , this would then create job opportunities for those that are unemployed in India. However, the illiteracy rate in India is quite high, therefore the lowered corporate tax rate may only help reduce unemployment to a certain extent. There will still be many unemployed due to a mismatch of skills  between the skills sets needed for job  opportunities and the skills of the people in India have.Hence the structural unemployment constitutes a large portion of the overall unemployment rate of India.
Keynesian:
Government intervention is a key factor in the keynesian model. Due to India facing a negative gap in its GDP, the finance minister of India has decreased it taxes from 30% to 22%.  When the rate of taxes are reduced, real disposable income increases.The increase in real disposable income would mean that buyers have a higher purchasing power , and hence will increase their consumption on goods and services which will in turn increase GDP since consumers' consumption is part of the AE equation when calculating GDP.
Fiscal policy:
The decision of tax cut is made by the government which attempts to attract more investment. It is certainly a positive long-term measure that encourages investment and helps companies to invest. However,  India has poor infrastructure and there is a lack of investment protection. As such, investors may not have the confidence to invest.
The low demand in India is also a big issue as investors will not invest in new production facilities as existing ones are operating below capacity. This will prevent more job opportunities from being created and it will not help with the unemployment rate.
Lastly, such tax cut will surely cost government a huge loss, and adversely affect the government's ability to support growth through spending.

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GDP / Economic Growth
The adverse weather conditions in India such as long periods of drought as well as heavier rainstorms have caused the farmers in India to have difficulties growing and harvesting crops successfully. Furthermore other factors such as pests infestations make it even harder to get a good haul of crops.Since there is a limited/shortage of supply of crops, suppliers/sellers would raise the price of these crops as they are unable to supply  the amount of goods(crops) that buyers demand. Due to a decrease in locally produced goods, consumption of locally produced crops will decrease due to a potential rise in prices of crops caused by a shortage in supply(law of demand) and thus this leads to a decrease in real GDP.

The shortage of crops supply would also mean that the country has to decrease its export of these crops in order to  have sufficient supply within their own country,additionally the prices for these crops would be higher than usual due to a shortage of it, thus making it less price competitive in the global market, and other countries may not buy from it anymore and buy from other countries instead.Hence expenditure on net exports (exports-imports)would be lower thus resulting in a decline in the real GDP.

Other than affecting crops, the adverse weather conditions also caused frequent floods in Mumbai which damages the socioeconomic environment. The floods weaken the infrastructure such as roads and bridges ,which are important to facilitate economic activity. This will cause the  investment in Mumbai to decline due to a weak infrastructure which will slowdown the economic activity in the region. The decrease in economic activity and the weak infrastructure,  are not ideal for anyone to invest in,hence leading to a  fall in investments, which would lead to a lower GDP since the AE is now lower as firms' investments decrease.  Since Mumbai accounts for slightly more than 6.16% of India's economy, the fall in investment would have a sizable impact on the real GDP of India . Furthermore, the flooding  causes inconvenience , preventing people to get to work, this will affect the real GDP as  the workforce will be underemployed  or left idle, thus production will decline. Since there is now a lower quantity of goods produced, the market value of all final goods and services will decline and as a result, real GDP decreases.
Unemployment:
As said above the flood causes massive damage to infrastructure which affects the workers as well as their workplace e.g factories or offices may be severely damaged to the point where it is unsafe for them to go to work. Furthermore,  investors will be discouraged to further invest in the region as it is prone to natural disasters like floods which will affect their profits.Hence, this would prevent potential investors from investing in India which will decrease job opportunities in India. This would be worsened when current investors pull out their investments from India, this would lead to a spike in the number of unemployed as there is a sudden "retrenchment" period where many people are forced out of their jobs. These factors would in turn increase the unemployment rate of India.

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GDP/Economic Growth:
As the inflation rates of these consumer products increase over time. Its growth in nominal GDP would be expected to increase as well. Since nominal GDP is calculated as the market value of all final goods and services produced in the economy in current year prices, as the prices of goods increase, the nominal GDP would increase assuming that the quantity of products sold remain constant.

However, based on reports of India nominal GDP growth, it can be concluded that the nominal GDP growth is decreasing. This may be due to the decrease in quantity of products sold which may have been the result of the flooding in Article 2. The flood which damaged crops and goods would lead to a decrease in quantity of products sold.

Inflation:
Some causes of food inflation may be contributed by the flood which was mentioned in Article 2. As the flood continued to damage crops and businesses. Farmers and suppliers would have no choice but to increase the prices of their goods and services in order to maximize their profits and also to cope with demand with a limited  supply, this type of inflation is also known as the cost-push inflation.  Hence, rising prices would lead to the increased inflation rates which India is facing now.

Milk prices increasing by 5% is a clear indication that India may be experiencing increasing inflation rates.

Since inflation rate is getting higher, the cost of living would  increase as well. But most workers have low paying jobs with fixed income, their purchasing power would decrease, causing standard of living to decrease as well.

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Summary of article:
India faces food inflation as prices of pulses, meat, eggs and edible oils increases. It is expected for the general price level of such goods to continue elevating.Dairies have raised milk prices by around 5 per cent this month due to a drop in supplies. Egg and chicken prices too are seen remaining elevated as production costs have jumped due to rising animal feed prices, said a poultry producer. Instead of helping to cool inflation rates, the distorted monsoon led to heavier rains which damaged the summer-sown crops and delayed planting of winter crops.

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India's volatile food prices are yet again posing a sticky inflation problem for its central bank, preventing it from cutting rates as deep as it would like to support a stuttering economy.

After slashing rates five times this year, the Reserve Bank of India ( RBI) stunned markets earlier this month by resisting a sixth reduction as many had predicted.

Accelerating inflation is a concern, the RBI said after its decision, while signalling it had room to ease policy further to lift an economy growing at its weakest pace in six years.

Earlier this week RBI Governor Shaktikanta Das reiterated the central bank's readiness to ease if needed. Yet traders expect price pressures will be a hurdle to pushing down the key repo rate much below the current 5.15 per cent over coming months.

Indeed, prices of pulses, meat, eggs and edible oils - big contributors to the recent spike in food inflation - are likely to remain elevated, say traders and industry insiders.

Food inflation in November rose to an almost six-year high and is seen staying around those levels over the next few months.

"Prices of grains such as wheat could start moderating from April onward, but prices of milk, meat and edible oils may remain firm," said Harish Galipelli, head of commodities and currencies at Inditrade Derivatives & Commodities in Mumbai.

Dairies have raised milk prices by around 5 per cent this month due to a drop in supplies. Egg and chicken prices too are seen remaining elevated as production costs have jumped due to rising animal feed prices, said a poultry producer.

A normal monsoon year would have helped cool food inflation, but this year the highest rainfall in 2-1/2 decades followed by untimely rains have damaged the summer-sown crops and delayed planting of winter crops.

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India's elevated food inflation limits scope for further rate cuts

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India's volatile food prices are yet again posing a sticky inflation problem for its central bank, preventing it from cutting rates as deep as it would like to support a stuttering economy. After slashing rates five times this year, the Reserve Bank of India ( RBI) stunned markets earlier this month by resisting a sixth reduction as many had predicted.

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Summary of article:
Global warming has led to disruptions in the intensity and period of the monsoon, as the rain becomes less predictable. The change in intensity and occurrence of rain causes flooding in Mumbai. Drought also dwells upon the Marathwada region, western India. These extreme weather conditions caused many farmers in India struggling to successfully grow crops like corn due to infestations. Not only does the drastic weather conditions affect crops, the intensity of the rain caused frequent floods, damaging infrastructure like roads and even buildings. The after effects are no better, as mosquitoes start breeding in dirty pockets of water after the flood. Decades of short-sighted government policies are leaving millions of Indians defenseless in the age of climate disruptions, especially the poor.

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The monsoon is central to Indian life and lore. It turns up in ancient Sanskrit poetry and in Bollywood films. It shapes the fortunes of millions of farmers who rely on the rains to nourish their fields. It governs what you eat. It even has its own music.

Climate change is now messing with the monsoon, making seasonal rains more intense and less predictable. Worse, decades of short-sighted government policies are leaving millions of Indians defenseless in the age of climate disruptions - especially the poor.

After years of drought, a struggling farmer named Fakir Mohammed stares at a field of corn ruined by pests and unseasonably late rains. Rajeshree Chavan, a seamstress in Mumbai, has to sweep the sludge out of her flooded ground floor apartment not once, but twice during this year's exceptionally fierce monsoon. The lakes that once held the rains in the bursting city of Bangalore are clogged with plastic and sewage. Groundwater is drawn faster than nature can replenish it.

Water being water, people settle for what they can find. In a parched village on the eastern plains, they gather around a shallow, fetid stream because that's all there is. In Delhi, they worship in a river they hold sacred, even when it's covered in toxic foam from industrial runoff. In Chennai, where kitchen taps have been dry for months, women sprint downstairs with neon plastic pots under their arms when they hear a water truck screech to a halt on their block.

The rains are more erratic today. There's no telling when they might start, nor how late they might stay. This year, India experienced its wettest September in a century; more than 1,600 people were killed by floods; and even by the time traditional harvest festivals rolled around in October, parts of the country remained inundated.

Even more troubling, extreme rainfall is more common and more extreme. Over the last century, the number of days with very heavy rains has increased, with longer dry spells stretching out in between. Less common are the sure and steady rains that can reliably penetrate the soil. This is ruinous for a country that gets the vast share of its water from the clouds.

The problem is especially acute across the largely poor central Indian belt that stretches from western Maharashtra State to the Bay of Bengal in the east: Over the last 70 years, extreme rainfall events have increased threefold in the region, according to a recent scientific paper, while total annual rainfall has measurably declined.

"Global warming has destroyed the concept of the monsoon," said Raghu Murtugudde, an atmospheric scientist at the University of Maryland and an author of the paper. "We have to throw away the prose and poetry written over millennia and start writing new ones!"

India's insurance policy against droughts, the Himalayas, is at risk, too. The majestic mountains are projected to lose a third of their ice by the end of the century if greenhouse gas emissions continue to rise at their current pace.

But, as scientists are quick to point out, climate change isn't the only culprit to blame for India's water woes. Decades of greed and mismanagement are far more culpable. The lush forests that help to hold the rains continue to be cleared. Developers are given the green light to pave over creeks and lakes. Government subsidies encourage the over-extraction of groundwater.

The future is ominous for India's 1.3 billion people. By 2050, the World Bank estimates, erratic rainfall, combined with rising temperatures, stand to "depress the living standards of nearly half the country's population."

The Marathwada region, stretching out across western India, is known for its cruel, hot summers. Hardly any rivers cut through it, which means that Marathwada's people rely almost entirely on the monsoon to fill the wells and seep into the black cotton soil.

Marathwada is also an object lesson in how government decisions that have nothing to do with climate change can have profoundly painful consequences in the era of climate change.

In October, just weeks before the traditional harvest season, Fakir Mohammed led me through his family's one-and-a-half-acre plot of land. A neem tree stood in the middle of the fields. Lie under it, Mr. Mohammed said with pride, and you'll never get sick.

The same could not be said of his land.

The rains had been deficient for most of the last nine years. This year, they came late, and when they came, the thirsty ground drank everything.

Then, an infestation of fall armyworm attacked Mr. Mohammed's corn. The millet was ravaged by a fly. The cotton had flowered, but Mr. Mohammed could tell it would be a paltry harvest. "We worked very hard," he said. "But we'll get nothing out of this."

Worse, the rains this year did nothing to solve the community's drinking water shortage. Even at the end of the monsoon, Mr. Mohammed's well was dry. A dam nearby, built to supply drinking water to his village and nearly 20 others, had turned to scrubland, fit only for a few skinny cows to graze.

Water is so precious that the women of his family said they drank half a cup if they wanted a whole one. They went without a daily shower so their children could go to school clean and fresh. When their nerves were frayed, they smacked a child who spilled a cup by accident.

Every day, four government trucks came down the muddy lane to fill the village water tank, which met a fraction of what the village needs. Most people bought drinking water from far away.

Mr. Mohammed was grateful for whatever the clouds had to give this year, but he was also anxious. "There's no water to drink, but at least it's good for the fields," he said. "I'm scared in my heart. I don't know what's going to happen in the future."

Mr. Mohammed, who says he is around 60, is not wrong to worry. Since 1950, annual rainfall has declined by 15 percent across Marathwada, according to an analysis by Roxy Mathew Koll, a monsoon specialist at the Indian Institute of Tropical Meteorology. In that same period, cloudbursts have shot up threefold.

But here's what's shocking. Also during that same period, Marathwada, along with the rest of India, has seen a boom in the production of one of thirstiest crops on earth: sugar cane.

Down the road from Mr. Mohammed's village, on land that gets water from an upstream dam, farmers had planted acres and acres with sugar cane. Why? Because sugar mills had sprung up across the state, some owned by politicians and their friends. They were ready to pay handsomely for cane.

Bizarrely, the taxpayers of India, one of the most water-stressed countries in the world, have aided sugar producers handsomely. The government subsidizes electricity, encouraging farmers to pump groundwater for their sugarcane fields, as well as fertilizers, which are used in vast quantities for sugar. State-owned banks offer cheap loans, which are sometimes written off, especially when politicians are courting farmers' votes. This year, the government has approved nearly $880 million in export subsidies for sugar mills.

With all those perks, sugar cane production has grown faster than any other crop since independence from British rule in 1947, making India the world's biggest sugar producer, according to an analysis by Ramanan Laxminarayan, a researcher at the Princeton Environmental Institute. Three-fourths of irrigated sugar cane production takes place in areas under "extremely high water stress," the World Resources Institute found.

In October, just before the Hindu festival to mark the harvest, another Marathwada farmer named Ashok Pawar sent me pictures of ruin: Freakish rains had washed away his soy and mung beans. No one in his village had seen anything like it so late in the season.

The image of the pot-bellied Hindu god, Ganesha, that hangs above Savita Vilas Kasurde's narrow doorway is intended to keep obstacles away from her family's path.

The same cannot be said for the Mithi River, which flows a few steps from Ms. Kasurde's door. Its path has been blocked every which way as it winds through this city of 13 million people.

Mumbai's international airport straddles the Mithi; you can see the planes taking off from Ms. Kasurde's street. Sewage and rubbish pour into the Mithi. A vast spread of high-rises have been built on land reclaimed from the Mithi, along with higgledy-piggledy working class enclaves like this one, perched precariously on its edge. They are the ones that flood first and flood worst after a heavy rain. The city's other natural defense against floods, mangrove trees, have been pulled out to make room for concrete.

Ms. Kasurde is a seasoned veteran. When the water rises, she hauls her fridge on top of the highest table, unplugs the television, wraps her children's school books in plastic. When the water is up to her knees, she takes it all upstairs to the second floor bedroom. The power goes out when it rains hard. Going to the shared neighborhood toilet means wading through fetid waters. "We just sit in the dark," said Ms. Kasurde.

Mumbai got more rain this year than it had in 65 years, and several times this season, it came in exceptionally heavy downpours. The drains overflowed. The lanes filled with muck. Commuter trains were disrupted. Flights were diverted. Several times in Mrs. Kasurde's neighborhood, schools turned to storm shelters. Those without an upstairs room sloshed through the water to get there.

After each flood, as the waters began to recede, they returned to cover their noses and sweep the water and sludge out of their homes. Mosquitoes can breed in the puddles of dirty water. A dengue outbreak was the last thing they needed.

This is what worried Rajeshree Chavan nearby when I saw her in the middle of the monsoon. She had managed to save her sewing machine, the source of her livelihood, twice this year when her ground floor room flooded. She had to throw away a sack of rice and her kids' clothes.

It infuriated her that politicians came through only when they were trolling for votes. Even the state's top politician was here earlier in the year, she said. He wanted the neighborhood's support for the governing Bharatiya Janata Party, she recalled. He promised new houses for people on higher ground, in the northern suburbs of the city. He left after giving symbolic plastic keys to five families.

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India's Ominous Future: Too Little Water, or Far Too Much

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The monsoon is central to Indian life and lore. It turns up in ancient Sanskrit poetry and in Bollywood films. It shapes the fortunes of millions of farmers who rely on the rains to nourish their fields. It governs what you eat. It even has its own music.