Sales revenue of manufacturing firms saw weak growth in September quarter. Rural demand indicators performed better than urban. Capex must rapidly pick up in 2nd half of the fiscal.
In mass-market cars, degrowth is in the hatchback and sedan segments where sales have cratered. For instance, sales of Maruti Suzuki’s Alto and S-Presso hatchbacks have slumped this year.
The S&P Services PMI Index for April also pointed out that the level of job creation had remained static despite the growth in business activity, and that input price pressures remain.
Several ASHA workers said authorities who earlier assured them better wages, PPE and safe working conditions haven’t kept those promises despite a two-day stoppage last year.
Mahindra, which bought a 70% stake in Ssangyong Motors Co for $368 million in 2010, will hold 30% or less if the deal goes through. It will also do a 25% capital reduction.
The pace of activity was enough for the RBI to revise its forecast for the economy, which it now expects to exit a recession in the current quarter to December.
Finance Minister Nirmala Sitharaman has announced collateral-free loans, credit guarantees, capital infusion and various other liquidity-boosting measures for MSMEs, NBFCs & DISCOMs.
Government is banking on NSSF, market and investors. But if any of these don’t play as per the script, then financing of fiscal deficit will become challenging.
Govt needs to facilitate wage-intensive manufacturing by ensuring labour law reform, a competitive rupee, efficient infrastructure and supply-chain development.
If elections happen in Bangladesh next year with the Awami League’s participation, there is every possibility of a sudden surprise around the bend. One can only hope it would not be bloody.
Naidu’s summit brings in MoUs on same scale as Jagan’s, but CM says his plans built on speed, certainty & investor trust, with escrow accounts, simplified incentives & real-time oversight.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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