The first advance estimates of gross domestic product by the National Statistical Office showed that India will grow at 5 per cent in the current financial year. In nominal terms, the economy is expected to grow by just 7.5 per cent, compared with the assumption of 12 per cent in the July Budget. Slower than expected growth will itself complicate matters.
Here’s a collection of Business Standard Opinion pieces for the day.
With a fresh assessment of the state of the economy, all stakeholders would now look forward to the Union Budget to see how the government plans to revive growth. The first step towards this goal would be to accept the real economic and fiscal situation, says our lead editorial. Click here to read
If political turmoil strikes at the heart of the Indian state, our national security will be threatened like never before. Securing our unsettled land borders will become more challenging than it already is, writes former foreign secretary Shyam Saran. Click here to read
It is incumbent on businesses to file taxes honestly, and the government should reach out to industry associations if need be to spread awareness of the costs and benefits of complying with the GST, says our second editorial. Click here to read
“Any employee going on strike in any form would face the consequences which, besides deduction of wages, may also include appropriate disciplinary action.”
A memorandum issued by the government