Among the measures announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 23rd August, 2019 to arrest economic downturn, the following are noteworthy: * Allow Bharat Stage IV (BS-IV) vehicles (which are purchased till 31st March, 2020) to remain operational for the entire period of registration; * Government shall lift the ban on purchase of new vehicles for replacing all old vehicles by its various departments; *...
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Prayagraj's unemployment rate highest in country, 1.5 lakh unemployed in govt records -K Sandeep Kumar
-Hindustan Times Prayagraj, or the erstwhile Allahabad, tops this unemployment list with an unemployment rate of 8.9%. It’s no mere coincidence that Uttar Pradesh’s Prayagraj has the dubious distinction of being the city with the highest unemployment rate in the country. Government record shows that a whopping 1.5 lakh unemployed youth are in the queue of those hunting jobs which are few and far in between. The National Sample Survey Organisation (NSSO) in...
More »Truck sales crash 60%; Ashok Leyland sees decline of 70% in August -Shally Seth Mohile
-Business Standard Volumes during August were dragged down by the top two manufacturers, which together sell more than seven in every 10 trucks Mumbai: Sales of medium- and heavy-duty commercial vehicles (M&HCVs), excluding buses, considered a barometer of economic activity, more than halved in August, as transporters — struggling with excess capacity owing to a slowing economy and consumption slowdown — deferred purchases, the monthly sales data released by truck makers shows. India’s...
More »Why India's mega bank mergers move may not yield the desired results -Mythili Bhusnurmath
-The Economic Times Government’s forced mega merger of public sector banks could scupper economic recovery. I am not saying we maintain a Panglossian countenance, that we smile away every difficulty. But, in any real economy, the mood is very important,’ observed Reserve Bank of India governor Shaktikanta Das, speaking at an event in Mumbai late August. Sound advice. Sentiment matters. Irrational despondency can be as damaging for the economy as ‘irrational exuberance’. But...
More »Sensex slips 769.88 points after heavy selloff in banking, energy and auto stocks
-The Telegraph/ PTI Among top losers were ICICI Bank, Vedanta, HDFC, Tata Motors, Tata Steel, ONGC, IndusInd Bank, NTPC, M&M and L&T The sensex nosedived 769.88 points to end at 36,562.91 and the Nifty tanked 225.35 points to 10,797.90 today after heavy selloff in banking, energy and auto stocks as a slew of macroeconomic data releases suggested a worsening economic slowdown. Top losers in the sensex pack included ICICI Bank, Vedanta, HDFC, Tata...
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