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Why India's growth figures are off the mark -Arun Kumar

were way off the mark since the global economy was rapidly slipping into a great recession. Explaining the markdown Is India facing a similar situation at present? The economic growth rate (quaRTErly) has been sliding for the last five quaRTErs from 8% to 7% to 6.6% to 5.8% and now to 5%. Yet, experts have been talking of a 7% annual rate of growth; every quaRTE<

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Govt deal no lifesaver for Kashmir apple-growers, could leave them poorer -Azaan Javaid

ocure Kashmir’s apple produce to prevent distress sales amid tensions in the Valley will put farmers at a disadvantage over conventional sales, ThePrint has learnt.   With militants repoRTEdly threatening traders against conducting business, and a public curfew in place against the decision to abrogate Article 370, tonnes of Kashmir’s famed apples, worth thousands of crores, faced the prospect of rotting or distress sale. To gua

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With auto sector in slow lane, tyre makers begin to feel pinch -Yuthika Bhargava

till now has helped the tyre industry to mitigate the impact of the severe demand slowdown in the automobile sector, the segment — which accounts for about 50% of the tyre market — has staRTEd to fill the pinch. While the sector is somewhat hopeful of an uptick in demand due to the festive season and expectations of pre-buying due to the shift to BS-VI norms, their hopes are largely pinned on measures such as scrappage policy and a redu

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Prabhat Patnaik, an economist and former economics professor at the Jawaharlal Nehru University, interviewed by Kaushal Shroff (The Caravan)

ed 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 the government announced the merger of ten public-sector banks into four combinations. These announcements

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Government announces Rs.50,000 crore overhaul of export tax refund scheme - Gireesh Chandra Prasad and Asit Ranjan Mishra

orts and the economy. The new scheme which will benefit all products including textiles is more beneficial to the industry, the minister said at a briefing. “This will incentivise all expoRTErs more than all the existing schemes put together. The revenue forgone is projected at upto Rs.50,000 crores," said the minister. Sitharaman also announced a fully automated electronic refund system for giving Goods and Services Tax (GST) credits

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Merchandise exports affected by global slowdown but not export of services

, trade data pertaining to 'merchandise' and 'services' indicate contradictory trends for the period April-August 2019-20. It may be noted that many of the goods, which we import, are also re-expoRTEd after adding value to them. For example, gems and precious stones are impoRTEd first and after they are transformed into jewellery (viz. following value addition), are then re-expo More »

After seeking import, Union govt slaps steep export charge on onions -Parthasarathi Biswas

ll not be allowed if the consignments are priced below $ 850 per tonne. The steep MEP will, in a way, stop all outbound shipment of onions from India. During the financial year 2018-19, India had expoRTEd 21.82 lakh tonnes of the bulb. This move comes days after the state-owned MMTC Ltd had floated a tender for import of onions from “Pakistan, Egypt, China, Afghanistan or any other origin”, triggering criticism from farmers in Maharasht

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Centuries-old Andhra Pradesh cashew industry in dire straits

shew industry, which has flourished for hundreds of years in Vetapalem village near Chirala town in Prakasam district, is beginning to show the first warning signs of a slump. Cashew units are repoRTEdly struggling to sustain operations in the wake of a shortage of raw material and a skilled workforce, with fingers being pointed at the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for the lack of manpower. Only those planta

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Dumb and Dumber: Facing slowdown, govt squeezes expenditure -Subodh Varma

last year as share of annual budget, with key public welfare related ministries cutting most. India is facing an unprecedented slowdown of the economy with GDP growth slumping to 5% in the June quaRTEr, agriculture growing by only 2% and manufacturing by a mere 0.6%. Private consumption expenditure – spending by families on consumption – has slipped downwards, bank credit has decelerated, and there are reports of widespread job losses f

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Dr. Manmohan Singh, former Prime Minister of India, interviewed by Richa Mishra (The Hindu Business Line)

It is the Modi government’s prerogative to talk up its work. But the government can no longer be in denial about the economy. India is in the midst of a very worrying economic slowdown. Last quaRTEr’s GDP growth rate of 5 per cent is the lowest it has been in six years. Nominal GDP growth is also at a 15-year low. This slowdown has affected multiple key sectors of the economy. The automotive sector is in a crisis with a drastic decline

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