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...
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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 »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 »GST collections dip below Rs 1 lakh crore to Rs 98,202 cr in August
-The Indian Express This is the second time during this year that the revenue collection from the GST slipped below the Rs 1 lakh crore mark. First, it happened in June when the collection was Rs 99,939 crore. New Delhi: The Goods and Services Tax (GST) collections have dropped to Rs 98,202 crore in August from over Rs 1.02 lakh crore in the previous month. However, total GST for August this...
More »Will foreign companies now 'loot' India's coal? -Abir Dasgupta & Paranjoy Guha Thakurta
-Newsclick.in Allowing 100% FDI in coal mining is raising apprehensions that foreign companies will now ‘plunder’ mineral resources for commercial purposes for sale in the open market. The Narendra Modi government’s decision to allow 100% foreign direct investment (FDI) in coal mining has been opposed by the Left on the ground it would enable multinational mining companies to “plunder” the country’s mineral resources. Those supporting the move, however, argue that foreign investment in...
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