Page 4 - Indian Economy 2019
Favourable conditions exist to achieve $5 trn economy target: DPIIT Secy
The government has worked towards ease of doing business over the past five years, DPIIT Secretary Guruprasad Mohapatra said
 "Favourable conditions exist to achieve $5 trn economy target: DPIIT Secy")
India not immune to global slowdown, but fundamentals strong: WEF
The WEF is organising IES at a time when India's economic growth has plunged to a five-year low of 5 per cent - in the first quarter of 2019-20.
 "India not immune to global slowdown, but fundamentals strong: WEF")
Real interest rate dynamics: Who can help?
Economists focus on the real rate of interest to guage the impact on growth.
 "Real interest rate dynamics: Who can help?")
Rising outstanding debt of states challenging, says Reserve Bank report
For 2019-20, states have budgeted a consolidated GFD of 2.6% of the GDP
 "Rising outstanding debt of states challenging, says Reserve Bank report")
Economic slowdown: Pace of retail credit offtake falls to 15.6%
The economy grew by just 5% in first quarter ended June 2019
 "Economic slowdown: Pace of retail credit offtake falls to 15.6%")
Govt might seek extension of ECB to boost NBFC credit in economy
May ask RBI for relaxed co-origination norms
 "Govt might seek extension of ECB to boost NBFC credit in economy")
How corporation tax cut has made rupee carry trade more lucrative
Going long on the rupee with borrowed dollars offered the best returns in the past month in Asia
 "How corporation tax cut has made rupee carry trade more lucrative")
India's animal spirits are hushed as consumer demand remains subdued
Economic growth showed little signs of a recovery from a six-year-low
 "India's animal spirits are hushed as consumer demand remains subdued")
Time to reboot
How an economic slowdown can be a branding opportunity for companies
 "Time to reboot")
Still start-up season: Funding continues in face of economic slowdown
Even at early stage, start-ups are raising more money faster owing to the rise of a lot of specialised early-stage VCs and emergence of seed-stage programmes
 "Still start-up season: Funding continues in face of 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 ...
 "Economic slowdown due to structural changes, not cyclical: Amit Mitra")
PM Modi hails corporation tax rate cut as historic move for economic boost
The government on Friday slashed corporate tax rates for companies by almost 10%
 "PM Modi hails corporation tax rate cut as historic move for economic boost")
Room for rate cuts, not fiscal expansion, says RBI governor Shaktikanta Das
He was not willing to comment about the potential real interest rate of India that the central bank should fixate upon as the MPC cannot pursue multiple targets
 "Room for rate cuts, not fiscal expansion, says RBI governor Shaktikanta Das")
Old wine, new bottle: $7-bn exporter refund old plan with Rs 9,000 cr added
The new program will subsume existing export incentives, for which the government had already penciled in a revenue hit of Rs 41,000 crore in July
 "Old wine, new bottle: $7-bn exporter refund old plan with Rs 9,000 cr added")
Mega shopping fests to funding: Sops to boost exports, housing announced
The Press Information Bureau last night tweeted that Sitharaman will "announce important decisions of the government" at the conference in Delhi
 "Mega shopping fests to funding: Sops to boost exports, housing announced")
With half their fleet idle, transporters feel the pinch of auto slowdown
Some fleet owners are even considering selling some trucks to tide over the slowdown
 "With half their fleet idle, transporters feel the pinch of auto slowdown")
Can't achieve $5 trn economy target if growth keeps going down: Manmohan
Singh said Prime Minister Narendra Modi has been talking about achieving $5 trillion economy by 2024 but in the present situation it looks like a "piped dream"
 "Can't achieve $5 trn economy target if growth keeps going down: Manmohan")
India has limited room to ease fiscal policy due to high debt: Fitch
It said GDP (gross domestic product) growth is likely to rebound to 7.1 per cent next year
 "India has limited room to ease fiscal policy due to high debt: Fitch")
Indian consumers remain confident despite economic slowdown: Nielsen
Country tops consumer confidence index in April-June; economists say more pain ahead
 "Indian consumers remain confident despite economic slowdown: Nielsen")
Jammu and Kashmir, economic slowdown could push India to sign RCEP
The final part of the series looks at how situations at home are putting pressure on the Modi govt to deepen its economic diplomacy
