-The Indian Express The emerging consensus within India Inc. on the need for a government-led stimulus notwithstanding, the Centre has limited fiscal space given the lower tax collections. The Budget was a missed opportunity in terms of signalling reforms New Delhi: India Inc’s clamour for a stimulus to restart the investment cycle points to a near unanimous view within the industry — that government has to do the heavy lifting first...
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Abstain from speculations, give exact job loss count, Finance Ministry tells India Inc.
-The New Indian Express There were also reports that the auto sector has seen 3 lakh crore jobs being lost. NEW DELHI: TAKING notice of daily reports on job losses, the Union Finance Ministry has asked business chambers and industries to produce the exact number of job cuts to derive the correct picture of the economy. It has asked the industries to abstain from causing panic. “There are a number of reports that...
More »A politically inconvenient data nugget -Puja Mehra
-The Hindu Data on demonetisation’s contribution to the deepening economic slowdown may have been suppressed Was a task force report that recommended a new law to replace the more than 50-year-old Income Tax Act, 1961 suppressed because it inadvertently provided factual evidence for the debilitating impact of demonetisation on the formal corporate sector? On September 1-2, 2017, at the Rajaswa Gyan Sangam (an annual conference of senior tax administrators), Prime Minister Narendra Modi...
More »Raghuram Rajan issues warning alert for Modi govt on economy
-BusinessToday.in According to former RBI Governor Raghuram Rajan, the slowdown in the economy "very worrisome", and he called for pressing reforms to boost the economy and energise the private sector to invest as well as a fresh look at the way GDP is being calculated Former RBI Governor Raghuram Rajan has said the economic slowdown in India is "very worrisome" and has called for a fresh look at the way GDP is...
More »Auto sector slowdown hits scrap dealers, micro units in Coimbatore -M Soundariya Preetha
-The Hindu Production in foundries supplying castings to the automobile industry has dropped considerably In Coimbatore, where a large number of industrial units and foundries are working in the automobile sector, the slump in vehicle demand is impacting several businesses indirectly. A micro industry with just two CNC machines, doing job work, used to earn nearly ?10,000 a week from selling scrap. This income has reduced steeply in the last couple of months...
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