-CaravanMagazine.in In the budget unveiled in July, the finance minister Nirmala Sitharaman ambitiously claimed that India’s economy would hit $5 trillion by 2025. In the weeks that followed, the Central Statistics Office revealed that the gross domestic product growth rate for the April–June quarter fell to a six-year low of five percent; the Reserve Bank of India cleared a surplus transfer of Rs 1.76 lakh crore to the union government; and...
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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 »Solution to economy's woes: Boost incomes of those who will spend it best -Harish Damodaran
-Financial Express Two measures can do much to bring back price sentiment and liquidity in agricultural markets, just when farmers are set to harvest a bumper crop. The current economic slowdown began with Bharat. It has to also end with Bharat. According to the National Statistical Office’s GDP estimates for April-June 2019 released on Friday, India’s agriculture sector — which includes forestry and fishing — grew 2.04% year-on-year during the quarter....
More »Manmohan Singh hits out at Modi govt, calls slowdown 'man-made crisis'
-IANS * Manmohan Singh said India has the potential to grow at a much faster rate, but the all-round mismanagement by the Modi govt has resulted in this slowdown * The former PM said over 3.5 lakh jobs had been lost in the automobile sector alone, he claimed similar large-scale job losses in the informal sector New Delhi: Days after the finance ministry reported contraction in the GDP growth, former prime minister Manmohan...
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