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Slowdown stories from India's heartland -Sayantan Bera

-Livemint.com With sliding incomes, rural households are struggling to stay afloat and are curtailing consumption of essential goods Vidisha/ New Delhi: Ram Babu, who runs a hole-in-the-wall grocery store in Nateran village nestled deep inside Madhya Pradesh’s Vidisha district, doubles up as a daily wager. However, with villagers cutting on small purchases, sales in his shop are down. Moreover, landless households dependent on wage labou

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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

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Adopt a green growth strategy to boost the sluggish automobile sector

e since the last 15 years. The aforesaid proportion has fallen continuously from 1.40 percent to 0.74 percent between 2007 and 2017. The country needs safe and secure public transport systems in both rural and urban areas. Please consult chart-2. Source: Annual Report 2018-19 of Ministry of Road Transport and Highways, please click here to access   --- Chart-3 shows that the number of registered buses per 100 registered personal v

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Incentivising rural development: How Haryana's Rainbow scheme is transforming its villages -Varinder Bhatia

llage for construction work. “The idea behind this scheme is to generate positive and healthy competition among the Panchayats. Another important aspect is that it encompasses all aspects of rural development, not just infrastructure but also socio-economic development… Basically, it encompasses holistic development of the area”, said Sudhir Rajpal, Principal Secretary, Department of Development and Panchayats, Haryana. Haryana g

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A misguided stimulus plan to revive our economic growth -Himanshu

-Livemint.com The government’s prognosis overlooks the rural stress that is at the heart of the economy’s troubles Last week saw a flurry of activity from the government aimed at reviving the economy. So far, it was in denial, but it has now woken up to the economic crisis that is spreading like wildfire. The vice-chairperson of NITI Aayog termed the crisis the worst since independence. Several members of the economic advisory coun

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Shock slowdown -R Suryamurthy

resultant job losses. It also fanned concerns about the Narendra Modi government’s ability to crank up demand amid clear indications that urban consumption had also started to slacken after rural demand went into a deep rut several quarters ago. No one had expected the economy to slow down so sharply with economists polled ahead of the data release by the Central Statistics Office expecting it to dip to 5.7 per cent — just a little

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Professor Amiya Bagchi, Marxist economist, interviewed by Subhoranjan Dasgupta (The Telegraph)

oyment shrank 19 million and the decline has continued since then. To provide other unhappy figures — factory output shrank to a four month low; eleven million jobs were lost in 2018 and the rural-agricultural sector has suffered most; growth in the manufacturing sector has also slowed down to 1.2 per cent against 6.9 per cent a year ago. We simply cannot afford to ignore the basic facts and figures and the existential crisis of our people

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Hardly the brick and mortar of a revival -Jayati Ghosh

ales due to the Goods and Services Tax (GST) that led to higher prices of the cheapest small packets of biscuits at a time of extreme price sensitivity because of reduced livelihood, especially among rural consumers. Home budgets under strain Sales in the fast-moving consumer goods (FMCG) sector as a whole grew at only 10% in the April-June quarter of this year, less than nominal GDP growth. The slowdown in sales is across food and non-food item

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