Also significant: <<For decades India’s economic fortunes ebbed and flowed with other emerging nations, but in recent months it seems to have become unmoored. The global economy is enjoying its best year of the decade, with a worldwide pick up in GDP and jobs growth, and very few economies have been left behind. India is one of the outliers, with GDP growth slowing and unemployment rising.>>
(Source: 'Uniquely Indian problems: Why India is now detached from the world, sitting out the global recovery in growth and jobs' at < https://blogs.timesofindia.indiatimes.com/toi-edit-page/uniquely-indian-problems-why-india-is-now-detached-from-the-world-sitting-out-the-global-recovery-in-growth-and-jobs/ >.) Sukla On 4 October 2017 at 23:47, Sukla Sen <[email protected]> wrote: > > [<<Referring to the Opposition’s criticism of the Centre’s economic > policies, he said: “There are some people who sleep well only after they > spread a feeling of pessimism all around. We need to recognise such > people.”>> > > The problem is, this time round, it's not only the members of the somewhat > disarrayed and dispirited opposition, but also his own party verterans, at > least a few of them, are stringently critical, talking of "a hard landing". > (See, e.g.: 'Notes Ban 'Largest Money-Laundering Scheme Ever': Arun > Shourie To NDTV' at <https://www.ndtv.com/india- > news/notes-ban-largest-money-laundering-scheme-ever-arun- > shourie-to-ndtv-1758161>; 'Suicide too is a bold step, Shourie says of > demonetisation' at: <http://economictimes.indiatimes.com/articleshow/ > 60934642.cms?utm_source=contentofinterest&utm_medium= > text&utm_campaign=cppst>; 'I need to speak up now: Yashwant Sinha writes: > The economy is on a downward spiral, is poised for a hard landing. Many in > the BJP know it but do not say it out of fear' at < > http://indianexpress.com/article/opinion/columns/ > yashwant-sinha-arun-jaitley-gst-demonetisation-narendra- > modi-economy-bjp-i-need-to-speak-up-now-4862716/>.) > And, even the industry captains have, though pretty hesitantly, shedding > their familiar roles as ecstatic cheerleaders. (See, e.g.: 'Expect Economy > To Remain Stagnant For 9 Months, Says L&T’s AM Naik' at < > https://www.bloombergquint.com/business/2017/09/21/india- > wouldve-grown-at-7-if-not-for-note-ban-and-gst-says-lts-am-naik>.) > > And, quite remarkably, Modi sounds pretty defensive here, overlying an > undertone of threat though. > That's no less significant.] > > https://scroll.in/latest/852923/this-is-not-the-first- > time-indias-gdp-growth-has-dropped-to-5-7-says-narendra-modi > > INDIAN ECONOMY > > This is not the first time India’s GDP growth has dropped to 5.7%, says > Narendra Modi > The prime minister said the country had seen such a slowdown eight times > under the previous government’s regime. > > by Scroll Staff > Published 4 hours ago Updated 2 hours ago. > > This is not the first time India’s GDP growth has dropped to 5.7%, says > Narendra Modi > PTI > Prime Minister Narendra Modi on Wednesday said this was not the first time > that India’s Gross Domestic Product growth has dropped to 5.7%. > > “During the six years of the previous [Congress-led] government, the GDP > was at or below 5.7% eight times,” he said while addressing an event > celebrating 50 years of the Institute of Company Secretaries of India via > video conference. “But the government is making efforts to reverse the > trend.” > > India’s GDP growth reached a three-year low of 5.7% in the first quarter > of the 2017-’18 financial year. The government’s demonetisation exercise > and the implementation of the Goods and Services Tax were blamed for the > economic slowdown. > > The prime minister went on to mention how inflation and fiscal deficit had > dropped under the governance of the Bharatiya Janata Party-led National > Democratic Alliance, and that foreign exchange reserves had increased. > > Modi also highlighted that after the government scrapped Rs 500 and Rs > 1,000 notes on November 8, 2016, the cash to GDP ratio had slumped 9%, > compared with 12% before demonetisation. Cash to GDP ratio is the ratio of > the government’s public debt to its GDP. > > Referring to the Opposition’s criticism of the Centre’s economic policies, > he said: “There are some people who sleep well only after they spread a > feeling of pessimism all around. We need to recognise such people.” > > He also said he had asked the GST Council to review the problems traders > are facing, and that government was willing to make changes accordingly. > > -- > Peace Is Doable > > > -- Peace Is Doable -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send an email to [email protected]. Visit this group at https://groups.google.com/group/greenyouth. For more options, visit https://groups.google.com/d/optout.
