Page 44 - Economic Slowdown

Economic slowdown due to structural changes, not cyclical: Amit Mitra

West Bengal Finance Minister Amit Mitra on Monday said that the current slowdown in the economy is due to "structural" changes and not "cyclical". He said the structural changes have been ushered in due to demonetisation and "faulty" GST implementation along with the collapse of IL&FS which crippled the NBFC sector. "The slowdown in the economy is structural and not cyclical. This structural change has been brought about by demonetisation, hasty and faulty implementation of GST and the collapse of the IL&FS," Mitra said at the annual general meeting of Bengal Chamber of Commerce & Industry here. He said that when the economy was "coming up from the U-curve, the rising growth rate was hit by demonetisation which caused GDP growth to fall from 8.15 per cent to 7.17 per cent". "Another massive structural change came from the GST implementation," he claimed. Mitra said that he had spoken to Goods and Services Tax Network (GSTN) Chairman who told him that the ...

Tax cut, push for auto sector: What Sitharaman has done to rescue economy

Meeting traders, experts, entrepreneurs to gauge the pulse of the nation, Sitharaman has become a reformer, pulling all stops to get the economy out of a six-year-low growth rate

Now, the kitchen sink: Finance minister has kissed fiscal restraint goodbye

Lack of demand ails the economy. But that's not addressed, nor are declining exports; the bad old habit of 'loan melas' is back; and tax has been cut in a way that hurts states, writes T N Ninan

Getting close to retirement? You should shift towards debt-heavy portfolio

Usually, personal finance advisors suggest gradually lowering equity exposure closer to retirement, but maintaining a portion in good quality stocks or mutual funds can add sheen to the portfolio

Govt had a chance to strengthen the economy five years back: H M Desarda

The amount coming from toll tax is also not more than Rs 7,000 crore, he noted

Major ports post muted growth as coal volumes slide 4% in Apr-Aug period

In corresponding period of FY19, coal cargo had risen by 11%; Overall throughput growth ports at 1.9%

Impetus to Make in India, claims PM Modi; Oppn says it's timed for US visit

Congress leader Rahul Gandhi alleged the cut has been announced with the objective of making PM's Houston 'jamboree' a success

Highlights: GST Council announces steps to help tourism, trade

GST council meeting Live updates: All eyes are on GST council's meeting in Goa after the government announced slashing corporate taxes.

Above-average rains in over 6 yrs to assuage slowdown, water crisis: Report

The monsoon delivers about 70% of India's annual rainfall and determines the yield of rice, wheat, sugarcane and oilseeds, such as soybeans

Big smile and two thumbs up: Industry's response to govt's $20-bn bonanza

The reduction in corporate tax rates follows a series of steps to boost demand and investments after growth slowed to 5% in the quarter ended June

No stressed asset of MSME to be declared NPA till Mar 31, 2020: Sitharaman

State-owned lenders will hold meetings with Non-Banking Financing Companies--or shadow banks--and new retail customers in 200 districts till September 29 to explore giving credit

GST Council may be asked to decide on compensation to states in 45 days

States have been strongly pitching for extension of the compensation period by three years to 2024-25

Monsoon season and cash handouts keep BNP Paribas bullish on FMCGs

Sales of staples will recover in the second half of the fiscal year that began April 1, as farm-support measures and above-average rain lift rural incomes, the brokerage said in a report

The slowdown is for real and will not go away quickly: JSW Energy

Power demand has been very good for the last two-three years and for this year as well, says Prashant

No financial crisis in India, govt strengthening economy: Javadekar

The minister also took a jibe at former Madhya Pradesh chief minister Digvijay Singh for his "saffron-clad rapists" remark

Hero Cycles market share up despite economic slowdown: Company official

He underlined that shift to electric was inevitable and the government and companies into mobility were moving ahead to achieve it

Bond traders on edge over possible stimulus; seek assurance on fiscal goals

The government will make every effort to ensure that the revenue loss from its latest booster won't affect its goal to narrow the fiscal gap to 3.3 per cent of GDP

Advance tax mop-up posts dismal growth, rises by just 6% in H1FY20

Direct tax collection needs to grow by about 27% from here on to meet FY20 Budget target

Metro rail, defence projects may help BEML tide over slowdown blues

The metro and rail segment, which grew 45% in FY19, accounts for half the firm's order book

Indian economy can worsen further, market valuation too steep: Marc Faber

The government, in order to provide stimulus, has to be more active and involved in economic activity, says Marc Faber