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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Explained: Old reasons and new red flags in continuing auto slowdown -Yashee Singh
-The Indian Express In the commercial vehicles section, sales of Tata Motors, the largest commercial vehicle maker, fell by almost half as against August 2018. Mahindra & Mahindra (M&M), the second-largest manufacturer, posted a 28 per cent decline. The slowdown in the auto sector has worsened, with leading car manufacturers posting up to a 50 per cent drop in sales for August 2019 as against the corresponding month last year. Sales...
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 »Policy by Whatsapp: A disregard of consequences in governing the new India -Samar Halarnkar
-Scroll.in Democracy requires a national character that isn’t grounded in ignorance and government policy that is not a sophisticated version of Whatsapp. It is now clear – 1,020 days after Prime Minister Narendra Modi told India he was wiping out 85% of its currency, by value – that demonetisation was not just a failure but a spectacularly misconceived move. That its destructive effects took at least 100 lives in its immediate aftermath,...
More »Why rural India can't afford to buy biscuits -Roshan Kishore
-Hindustan Times Unfortunately, there is no high frequency income or consumption data for the Indian economy. What we do have is monthly data for rural wages, which is available until June 2019. On Wednesday, media reports said that India’s leading biscuit-maker Parle Products Private Limited could cut up to 10,000 jobs as “slowing economic growth and falling demand in the rural heartland could cause production cuts”. The company’s flagship brand Parle-G...
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