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

nment announced the merger of ten public-sector banks into four combinations. These announcements came against the backdrop of the precarious state of the Indian economy. The country is witnessing an Economic Slowdown that has spread from the auto sector to other segments, the unemployment rate is at a 45-year high and the tax collections from the previous fiscal year presented an estimated shortfall of Rs 1.67 lakh crore from the revenue expected by

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Economic crisis: Why it suits neoliberals to point fingers solely on demonetisation 'shock' -Prabhat Patnaik The roots of the present Economic Slowdown squarely lie within the neoliberal trajectory, which has led to a crisis of overproduction. Demonetisation and ‘hasty’ GST only aggravated it. With former prime minister Manmohan Singh resurfacing on the political landscape and articulating once more the orthodox neoliberal position, one can now clearly discern three distinct perspectives on the current More »

What data says about first 100 days of Modi 2.0 -Sneha Alexander & Vishnu Padmanabhan

ontext. Claim 1: Automobile slowdown partly driven by changing millennial preferences The biggest issue facing the government is India’s slowing economy. And at the heart of India’s Economic Slowdown has been a slump in the automobile sector. Passenger vehicle sales, which are an important indicator of domestic demand, have plummeted in recent months. At a press conference on Tuesday, Union finance minister Nirmala Sitharaman suggest

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

hieved a lot, and successfully navigated through both the 1991 crisis and the 2008 global financial crisis.” “I believe that we are entering a different kind of crisis now, a prolonged Economic Slowdown that is both structural and cyclical. The first step in a crisis is to acknowledge that we are facing one,” he stressed. The government needs to address the issue in a transparent manner, listen to experts and all stakeholders w

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Crop Diversification, not 'maniacal' river linking, is solution to water crisis: Ex-Planning Commission Member Mihir Shah -Aditya Sharma

urrently suffers from the fragmentation of landholdings, thereby creating more landowners who, in turn, are irrigating their lands amid a water crisis. As agricultural production faces the test of an Economic Slowdown, the increase in the number of landholdings and area to be irrigated has raised the cost for the small and marginal land-holding farmers who form nearly 86 per cent of India’s farming community. According to Shah, who was key to

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Solution to economy's woes: Boost incomes of those who will spend it best -Harish Damodaran

-Financial Express Two measures can do much to bring back price sentiment and liquidity in agricultural markets, just when farmers are set to harvest a bumper crop. The current Economic Slowdown began with Bharat. It has to also end with Bharat. According to the National Statistical Office’s GDP estimates for April-June 2019 released on Friday, India’s agriculture sector — which includes forestry and fishing — grew 2.0

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Gujarat's steel furnace industry to be next victim of Economic Slowdown -Ronak Chhabra According to Gujarat Induction Furnace Association, well over 7,000 workers of the steel furnace industry in Gujarat have become jobless in last three months. On Monday, September 2, it was reported that the growth of the country’s eight core industries has plunged, according to the official data, to 2.1% in July as against 7.3% in the same period last year. This included the steel sector industry which has registered a decline in production growth rate to 6.6%. He

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Rice-wheat stocks at record high, govt clueless -Subodh Varma

ffer from mass deprivation of food, thousands remain outside the limited public distribution system and nutritional levels continue to remain alarmingly low. It also has a connection with the ongoing Economic Slowdown – accumulated stocks of foodgrains reflect the declining ability of people to purchase what they need. Please click here to read more.

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Sensex slips 769.88 points after heavy selloff in banking, energy and auto stocks

points to end at 36,562.91 and the Nifty tanked 225.35 points to 10,797.90 today after heavy selloff in banking, energy and auto stocks as a slew of macroeconomic data releases suggested a worsening Economic Slowdown. Top losers in the sensex pack included ICICI Bank, Vedanta, HDFC, Tata Motors, Tata Steel, ONGC, IndusInd Bank, NTPC, M&M and L&T, falling up to 4 per cent. On the other hand, IT stocks rallied as the rupee depreciated 85

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Cyclical or Structural -- What is the nature of India's Economic Slowdown? -Nikita Vashisht Some analysts believe that a slowdown in the GDP growth for the fourth consecutive year, from 8.2% in FY17 to around 6.5%  in FY20 (E), makes it a case of structural slowdown. India’s real or inflation-adjusted gross domestic product (GDP) grew at 5% in the June 2019 quarter of financial year 2019-20 (Q1FY20), the slowest growth in six years (25 quarters). In nominal terms, the growth stood at 7.99%, the lowest since December 2002. With this, fears of the slowd

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