GDP growth has slid, public finances are messy and there is a jobs crunch. What the government needs to do to boost the economy.
IT IS NOT OFTEN that news about revision of GDP data pertaining to years gone by attracts more attention and comment than new GDP data, but that was what happened recently.
The controversy accompanying the release of the calculations of the GDP back series for the years 2005-12 by Niti Aayog Vice Chairman Rajiv Kumar and India’s chief statistician Pravin Srivastava on November 28 was so heated that the announcement of the second quarter GDP data for the fiscal by the Central Statistics Office (CSO) just two days later failed to get much attention except from professional economists.
But historical data, though interesting, is hardly as important as the current state of the economy. And the fall of the GDP growth from 8.2 per cent in the first quarter to 7.1 per cent in the current one was worthy of attention. Some fall was expected – after all, the 8.2 per cent was impossible to repeat this quarter because of the base effect – but perhaps not quite as much as the CSO estimates showed.
“GDP growth for the second quarter at 7.1 per cent seems disappointing,” Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of Finance, admitted shortly after the CSO released the statistic on November 30, though he quickly went on to say that things were not that bad. Manufacturing and agriculture were holding steady, he pointed out, while others had been probably affected because of seasonal factors.
Diese Geschichte stammt aus der December 30, 2018-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 30, 2018-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS