OVER THE PAST five quarters, most economic indicators have been on a slide. In the first quarter of 2019/20, GDP growth slumped to a six-year low of 5 per cent. Private consumption decelerated to an 18-quarter low of 3.1 per cent in the June quarter. Then, the Reserve Bank of India trimmed the 2019/20 GDP growth projection from 6.9 per cent to 6.1 per cent. To provide a booster shot to the economy, Finance Minister Nirmala Sitharaman announced a series of measures, including cutting the corporate tax rate to 22 per cent. Yet, sentiment is weak. Private investment has slowed considerably while exports are on a slow track. In the first half of 2019/20, exports, at $159.6 billion, were 2.4 per cent below the $163.5 billion achieved in the first half of 2018/19.
So what should the government do to revive growth? Sixteen CEOs and economists lay out the roadmap. Here’s what they prescribed.
Make Divestment Top Priority
ANIL AGARWAL , Chairman, Vedanta Resources
THE DIVESTMENT process should be top priority for the government in the absence of which the fiscal deficit is expected to widen in the next couple of quarters. The government must play its role as a facilitator and enabler of big-ticket projects to attract investment from private players. It is critical that a sector like mining is opened up for private investment so that India starts producing a lot of metals, minerals and oil, cut its import dependence, generate lakhs of jobs and create an ecosystem of ancillary industries.
Esta historia es de la edición November 17, 2019 de Business Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 17, 2019 de Business Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
"Focus on the challenge of each customer"
SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company
PEDAL ON THE FUTURE
THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY
BREATHE EASY
Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference
The Taste of India in a Glass
FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN
LOOK BEFORE YOU LEAP
IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES
MISSING ADVISORS
INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE
TURNING A CORNER
SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE
REALITY CHECK
INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?
TRUMP'S TRADE TANGO
The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?
"The essence of the Trump administration will be transactional”
Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more