-PTI As against India's real growth rate of 6.8 per cent in 2018, the IMF in its latest World Economic Outlook projected the country's growth rate at 6.1 per cent for 2019. WASHINGTON: India's growth is in barely positive territory, a top American think tank has said, noting that several key indicators are not just slowing down, but in absolute decline. In a study, two scholars from the Centre for Global Development (CGD)...
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Slowdown Blues: Contrary to Modi govt's aim, exports down by 6% in August; gems & jewellery lose shine -Rahul Shrivastava
-BusinessToday.in Cumulatively, the exports were down 1.53 per cent to $133.54 billion in the April-August period, while imports contracted by 5.68 per cent to $206.39 billion The depressing trends in India's trade in this financial year continue to hurt its growth story. India's exports in August dropped by 6.05 per cent to $26.13 billion compared to the August 2018 mark, as per official data released on Friday. In the first five months...
More »Merchandise exports affected by global slowdown but not export of services
Is it the case that the global economic downturn instead of shrinking domestic demand has affected our economy more? If the aforesaid statement is true, then ideally the trade related data should indicate improvement in our imports and deceleration in the country's exports. However, that is not the case and we get a mixed picture. A press release by the Ministry of Commerce & Industry dated 13th September, 2019 shows...
More »Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line The government must simplify and rationalise GST, kickstart rural consumption, revive agriculture and tackle the lack of credit for capital creation, says former PM Former Prime Minister Manmohan Singh, an eminent economist himself, feels that the Narendra Modi-led government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing...
More »There is a fundamental problem of demand today. At the core of it is incomes that aren't rising enough -Harish Damodaran
-The Indian Express The certainty that producers once enjoyed — of finding buyers for their wares without doing much beyond minor price adjustments to bring supply and demand into equilibrium — has ceased to exist. India traditionally never had a demand problem. On the contrary, its economy was always supply-constrained. Proof of no demand paucity is that between 2000-01 and 2015-16, domestic consumption of both finished steel and cement roughly trebled, from...
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