-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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Professor Amiya Bagchi, Marxist economist, interviewed by Subhoranjan Dasgupta (The Telegraph)
-The Telegraph "The government has miserably failed to stimulate the domestic economy. It has spent less and less on public education, healthcare and infrastructure because of its erroneous policy" The Modi government has an ambitious plan to create a $5-trillion economy in the next five years — but all data points are heavily stacked against it. The economy is floundering and the Reserve Bank of India has already trimmed its growth forecast...
More »Slowdown may render 30 lakh MSME workers jobless: KASSIA
-The Hindu Karnataka has over 6,00,000 small industries that employ over 70 lakh people Bengaluru: If the Union government fails to come up with precautionary measures to minimise the impact of the economic slowdown on the MSME (Micro Small & Medium Enterprises) sector, at least 30 lakh people will go jobless in Karnataka, cautions industry apex body, KASSIA (Karnataka Small Scale Industries Association). “The recession is no more a fear, but a...
More »For India Inc's sob story, Sitharaman has a sop story. But will it help? -Aunindyo Chakravarty
-TheWire.in Instead of giving freebies to the affluent, Sitharaman should have announced additional government spending in MNREGA and plans for filling vacancies in Government jobs. After holding out for seven weeks, following her maiden budget, Nirmala Sitharaman finally blinked. For about a month now, pink papers and business-friendly pundits had been crying foul about India Inc’s shrinking sales. But, since you can’t sell a sob story about the rich, it was spun to...
More »Is the current slowdown cyclical or structural? -Deepti Mathew
-IANS While there is a consensus that the economy is slowing down, the debate is still going on whether the slowdown is structural or cyclical. The Indian economy is passing through a phase of economic slowdown, with the GDP growth registering one of the lowest rates of 5.8 per cent in the last quarter of FY19. The GDP growth rate for the first quarter of FY20 is feared to be lower than...
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