-Livemint.com The government’s prognosis overlooks the rural stress that is at the heart of the economy’s troubles Last week saw a flurry of activity from the government aimed at reviving the economy. So far, it was in denial, but it has now woken up to the economic crisis that is spreading like wildfire. The vice-chairperson of NITI Aayog termed the crisis the worst since independence. Several members of the economic advisory council...
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Is the current slowdown cyclical or structural? -Deepti Mathew
-IANS While there is a consensus that the economy is slowing down, the debate is still going on whether the slowdown is structural or cyclical. The Indian economy is passing through a phase of economic slowdown, with the GDP growth registering one of the lowest rates of 5.8 per cent in the last quarter of FY19. The GDP growth rate for the first quarter of FY20 is feared to be lower than...
More »Biscuit-maker Parle says it may have to sack 8,000 to 10,000 workers amid slowdown in sales
-Scroll.in The company said higher taxes in the GST system had forced it to increase prices. It caused consumer demand to fall. Biscuit maker Parle Products Private Limited on Tuesday said it may lay off almost 10,000 employees if the demand slowdown continues, The Economic Times reported. “We have sought reduction in the Goods and Services Tax on biscuits priced at Rs 100 per kg or below, which are typically sold in...
More »Business leaders seek Rs 1 trillion govt stimulus to revive economy
-PTI Industry leaders met Finance Minister Nirmala Sitharaman in New Delhi for three hours. Businesses on Thursday asked the government for a stimulus package of over Rs 1 trillion to restart investments and revive the economy. Industry leaders, who met Finance Minister Nirmala Sitharaman in New Delhi for three hours, said the government will soon take action to boost economic growth. "The economy requires a critical intervention by introducing a stimulus package. We have...
More »Five policy reforms to jump-start growth -Niranjan Rajadhyaksha
-Livemint.com How India can put in place policy reforms to raise GDP growth without creating macroeconomic instability Mumbai: The second Narendra Modi government has begun its innings in the midst of a sharp economic slowdown. Economic expansion in the fourth quarter of the previous financial year was at the lowest level in five years—and 2.2 percentage points lower than growth in the first quarter of that year. The recent loss in economic...
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