Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Hardly the brick and mortar of a revival -Jayati Ghosh    </title>
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-The Hindu

The transfer of the RBI&rsquo;s surplus is only a stopgap measure which will not address the key problem of a lack of demand

There is no longer any room for doubt on the parlous state of the Indian economy. The..."/>
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-The Hindu

The transfer of the RBI&rsquo;s surplus is only a stopgap measure which will not address the key problem of a lack of demand

There is no longer any room for doubt on the parlous state of the Indian economy. The..." />
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                            <div align="justify">-The Hindu<br /><br /><em>The transfer of the RBI&rsquo;s surplus is only a stopgap measure which will not address the key problem of a lack of demand<br /></em><br />There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid off about 350,000 workers since April this year, with more job cuts likely. While this could still reflect falling demand only from higher income groups, recently, Parle Products, once the world&rsquo;s largest selling biscuit brands, announced that it may have to lay off up to 10,000 workers (around a tenth of its workforce). The company blamed falling sales due to the Goods and Services Tax (GST) that led to higher prices of the cheapest small packets of biscuits at a time of extreme price sensitivity because of reduced livelihood, especially among rural consumers.<br /><br /><em>Home budgets under strain<br /></em><br />Sales in the fast-moving consumer goods (FMCG) sector as a whole grew at only 10% in the April-June quarter of this year, less than nominal GDP growth. The slowdown in sales is across food and non-food items, with the biggest reductions in salty snacks and biscuits, spices, soaps and packaged tea. These represent the more discretionary element of consumer spending even among the poor &mdash; the items more likely to be cut down when household budgets are under strain.<br /><br />Economists with the government who finally recognised that there is a problem have blamed the current situation on the &ldquo;financial stress&rdquo; inherited from the United Progressive Alliance government more than five years ago, which is apparently preventing investment because &ldquo;no one trusts anyone else&rdquo;. But this isolates only one factor in the current slowdown: the undoubted mess in the credit system, reflecting both the overhang of bad debts of banks (worse today than in 2014) and the erosion of non-banks after the collapse of the aggressive lender, Infrastructure Leasing &amp; Financial Services Limited.<br /><br />Please <a href="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true" title="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true">click here</a> to read more. <br /><br /><br /><br /><br /></div>                                                           
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    <br><a href="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true" class="re" target="_blank">The Hindu, 27 August, 2019, https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true</a><div class="clear"></div>
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                            <div align="justify">-The Hindu<br /><br /><em>The transfer of the RBI&rsquo;s surplus is only a stopgap measure which will not address the key problem of a lack of demand<br /></em><br />There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid off about 350,000 workers since April this year, with more job cuts likely. While this could still reflect falling demand only from higher income groups, recently, Parle Products, once the world&rsquo;s largest selling biscuit brands, announced that it may have to lay off up to 10,000 workers (around a tenth of its workforce). The company blamed falling sales due to the Goods and Services Tax (GST) that led to higher prices of the cheapest small packets of biscuits at a time of extreme price sensitivity because of reduced livelihood, especially among rural consumers.<br /><br /><em>Home budgets under strain<br /></em><br />Sales in the fast-moving consumer goods (FMCG) sector as a whole grew at only 10% in the April-June quarter of this year, less than nominal GDP growth. The slowdown in sales is across food and non-food items, with the biggest reductions in salty snacks and biscuits, spices, soaps and packaged tea. These represent the more discretionary element of consumer spending even among the poor &mdash; the items more likely to be cut down when household budgets are under strain.<br /><br />Economists with the government who finally recognised that there is a problem have blamed the current situation on the &ldquo;financial stress&rdquo; inherited from the United Progressive Alliance government more than five years ago, which is apparently preventing investment because &ldquo;no one trusts anyone else&rdquo;. But this isolates only one factor in the current slowdown: the undoubted mess in the credit system, reflecting both the overhang of bad debts of banks (worse today than in 2014) and the erosion of non-banks after the collapse of the aggressive lender, Infrastructure Leasing &amp; Financial Services Limited.<br /><br />Please <a href="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true" title="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true">click here</a> to read more. <br /><br /><br /><br /><br /></div>                                                           
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    <br><a href="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true" class="re" target="_blank">The Hindu, 27 August, 2019, https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true</a><div class="clear"></div>
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-The Hindu

The transfer of the RBI&rsquo;s surplus is only a stopgap measure which will not address the key problem of a lack of demand

There is no longer any room for doubt on the parlous state of the Indian economy. The..." />
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    <h1 class="cat-box-title">Hardly the brick and mortar of a revival -Jayati Ghosh</h1>
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                            <div align="justify">-The Hindu<br /><br /><em>The transfer of the RBI&rsquo;s surplus is only a stopgap measure which will not address the key problem of a lack of demand<br /></em><br />There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid off about 350,000 workers since April this year, with more job cuts likely. While this could still reflect falling demand only from higher income groups, recently, Parle Products, once the world&rsquo;s largest selling biscuit brands, announced that it may have to lay off up to 10,000 workers (around a tenth of its workforce). The company blamed falling sales due to the Goods and Services Tax (GST) that led to higher prices of the cheapest small packets of biscuits at a time of extreme price sensitivity because of reduced livelihood, especially among rural consumers.<br /><br /><em>Home budgets under strain<br /></em><br />Sales in the fast-moving consumer goods (FMCG) sector as a whole grew at only 10% in the April-June quarter of this year, less than nominal GDP growth. The slowdown in sales is across food and non-food items, with the biggest reductions in salty snacks and biscuits, spices, soaps and packaged tea. These represent the more discretionary element of consumer spending even among the poor &mdash; the items more likely to be cut down when household budgets are under strain.<br /><br />Economists with the government who finally recognised that there is a problem have blamed the current situation on the &ldquo;financial stress&rdquo; inherited from the United Progressive Alliance government more than five years ago, which is apparently preventing investment because &ldquo;no one trusts anyone else&rdquo;. But this isolates only one factor in the current slowdown: the undoubted mess in the credit system, reflecting both the overhang of bad debts of banks (worse today than in 2014) and the erosion of non-banks after the collapse of the aggressive lender, Infrastructure Leasing &amp; Financial Services Limited.<br /><br />Please <a href="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true" title="https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true">click here</a> to read more. <br /><br /><br /><br /><br /></div>                                                           
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Home हिन्दी

Hardly the brick and mortar of a revival -Jayati Ghosh

Published on Aug 29, 2019   Modified on Aug 29, 2019

-The Hindu The transfer of the RBI’s surplus is only a stopgap measure which will not address the key problem of a lack of demand There is no longer any room for doubt on the parlous state of the Indian economy. The automobile industry, seen as a bellwether of activity in the post-liberalisation years, is in crisis, as automakers, parts manufacturers and dealers have laid off about 350,000 workers since April this year, with more job cuts likely. While this could still reflect falling demand only from higher income groups, recently, Parle Products, once the world’s largest selling biscuit brands, announced that it may have to lay off up to 10,000 workers (around a tenth of its workforce). The company blamed falling sales due to the Goods and Services Tax (GST) that led to higher prices of the cheapest small packets of biscuits at a time of extreme price sensitivity because of reduced livelihood, especially among rural consumers. Home budgets under strain Sales in the fast-moving consumer goods (FMCG) sector as a whole grew at only 10% in the April-June quarter of this year, less than nominal GDP growth. The slowdown in sales is across food and non-food items, with the biggest reductions in salty snacks and biscuits, spices, soaps and packaged tea. These represent the more discretionary element of consumer spending even among the poor — the items more likely to be cut down when household budgets are under strain. Economists with the government who finally recognised that there is a problem have blamed the current situation on the “financial stress” inherited from the United Progressive Alliance government more than five years ago, which is apparently preventing investment because “no one trusts anyone else”. But this isolates only one factor in the current slowdown: the undoubted mess in the credit system, reflecting both the overhang of bad debts of banks (worse today than in 2014) and the erosion of non-banks after the collapse of the aggressive lender, Infrastructure Leasing & Financial Services Limited. Please click here to read more.

The Hindu, 27 August, 2019, https://www.thehindu.com/opinion/lead/hardly-the-brick-and-mortar-of-a-revival/article29282093.ece?homepage=true

Tagged with: Economic deceleration nirmala sitharaman Rural Demand Automobile industry mgnrega Employment Generation Job Creation Effective Demand Economic Slowdown Economic Downturn

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