Growth accelerated to 7.7% in the quarter ending March, making India the fastest growing major economy. Amid growing calls to pull the rate trigger, this might see the RBI increase interest rates as early as next week.
According to the Bank for International Settlements, the U.S. dollar credit to non-bank borrowers in developing countries reached $3.7 trillion at the end of last year.
Total investor wealth, measured in terms of cumulative market value of all listed stocks on BSE, fell by Rs 10 trillion in past three trading sessions to Rs 143 trillion
The reach and impact of influencers are so significant that even politicians such as Prime Minister Narendra Modi have recognised their value—the National Creators Award is proof.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
Mr Shivam Vij that was one excellent speech full of juicy prevarication and innuendo that the Congress could have used before the election. And maybe they would have paid you handsomely for your pains. Never mind the content still stands good for the Rahul Gandhi style shoot and scoot hectoring. So if you approach the right channels your pains may still bear fruit,
To give credit where it is due, the speech – sorry article – does have two gems which you are artfully saved for the end. The first would put the most accomplished speaker ( and let’s include Modi as well) to shame.
“The Modi government right now must be spending less time preparing the July Budget and more time coming up with red herrings to counter future bad news on the economic front. As a structural slowdown stares us in the face, all we’ll be left with is Jai Shri Ram”
The second one is the proverbial error of ommision as any reader of The Print will testify:-
you say – err write- ” Views are personal.” You could have ended with one sentence of truth by writing :-
“Though I write ‘Views are personal’ they are actually shared by The Print.
I loved your hamming throughout the article though it betrayed some external agenda. Do be more circumspect next time. Remember ‘Little is More’
Hateful lefties, liberals were quiet for barely 3 weeks and now back to their vicious propaganda. Make no mistake, the people of India will be solidly behind Modi and defeat you commies and congies.
Sure, Congies and commies care more about Indian economy than Modi and BJP.
The biggest lie of the century – the UPA govt this author is so fond of cared more about economic development than politics! But agreed that Modi govt needs to undertake more reforms quickly.
This is mostly an ideologically (leftist – illiberal) motivated article.
Since this article is written By Shivam Vij, who, I think as a good journalist must be keeping himself updated on the dynamics of the global economy. But if NOT, then here is a recent New York Times article for his awareness: https://www.nytimes.com/2019/06/06/business/auto-industry-fiat-renault.html
US-China trade war is causing havoc with global trade; gold is almost touching US$ 1400 an ounce, the highest ever in last one year; the imminent Iran-US conflict is a risk for all major economies; India’s population has been growing for a long time now; resource management was not truly above average, let along superlative during the UPA II rule etc etc etc.
Arre baba, you journalist guys have been shouting so much for the past 5 years. Can’t you relax, wait and watch till next year’s budget before questioning the government? It is surprising that despite such negative press for Modi, Sonia’s son was not crowned as the emperor of India in 2019.
Now that upper castes are firmly back in power this time under BJP, expect India to go back to a new version of the old Hindu rate of growth, this time it may be around 4% instead of the older 2% level.
“If India Inc. is worried, it should know the price of cowardice is high.”
The author should know better, that most if not all of India Inc. are on (in)famous the NPA (defaulters) list. So, how can they complain when they themselves are the reasons for the liquidity crunch in the economy.
Author seems to be worried by the fall in automobile sales . But isn’t there a positive side to this ? How can our cities with their limited roads and land area accommodate more and more vehicles ? Should we not see this as a natural demand plateau when people take more to public transport and metros , due to our choked and dusty roads ?
The NDA has probably failed in boosting growth, but before acting they should consider seriously in which sectors we want growth which is compatible with our environmental goals.
The economy is not about Syria or Afghanistan. It affects all of us, the least well off the most badly. Why the opposition was unable to leverage the comatose state of the economy during the general election remains a mystery. Why so much of the media looks like Sandra Sarah Huckabee is not. The Budget on 5th July will tell us if the second term will be more productive than the first. How long the idyll will last is difficult to judge. There are always a million mutinies bubbling beneath the surface.
Every one wants socialism Freebies subsidies reservation loan waivers. No one wants economic development associated with free market capitalism. Left right and centre all say jai Socialism and show flip the bird at capitalism. No one has the guts to privatize Bharat and achieve double digit growth.
Economic slowdown was sudden and sharp in 2008-9, the economy was propped up by artificial inducement followed by indiscriminate loans to business houses, and it’s fallout and recovery during NDA 2, the tightening of monitory policy and sharp recovery through hard methods has just brought back fundamentals in control be it fiscal deficiency, inflation and interest rates…the recovery of banks from bad loans is nearing corner. NBFC space will recover by end of 2019, and if the monsoons are good, we will see consumer interests going up and we may see business cycle picking up by Nov 19. Principal opposition party is responsible for the mess we are in how can we expect them to talk about it and get exposed further!
Vij has lost his credibility long back. A congress mouthpiece must understand a hopeless opposition was never a challenge for Modi.Economic growth can never be guaranteed as it depends on so many internal and external factors.
Get over the whining and crying dude. If your favorite candidate didn’t win the elections it means end of democracy… right? The elections are over and people have rejected those Centrist, Leftist and all such “baseless” parties because you know what, they don’t care for the nation. They only care about their personal wealth numbers. This govt has an agenda while others have only fiefdoms!
Shivam thinks sheer high GDP growth rate can deliver basic needs to the poor of INDIA. This foolishness and shallow policy making led to policy paralysis in 2013. P Chidamabram thought lower interests rates and phone banking will keep GDP growth rates above 7% BUT it came down to 2.7% due this hollow thought process. Shivam thinks without delivery of basic needs MODI returned to power, THIS negligence will make u extinct in NEW INDIA. NEW GDP BOOM must be across the economic class unlike 2004-09 which was mostly for rich and upper middle class. NEO MIDDLE class has to be included and the poor has to brought into mainstream and this takes time. TALKING about jobs , this selective outrage just shows your utter biasness because JOBS in the formal sector became stagnant after 2012. It was the informal economy which was not taken into consideration and was under severe stress in MODI govt due to liquidity crunch due to NPAs (not because of demo dont mislead!). MUDRA loans were given in large scale and has almost made many of employment oppostunities yet lot of work needs to be done.. THIS is a young INSPIRATIONAL India u dare insult it by telling them that they have no concern about their economic condition. Fruits of high GDP were eaten by UPA1 where was foundation was done by AB Vajpayee .
Do u think GDP boom like 2004-09 will solve health crisis in INDIA, infrastructure and social life. First provide basic needs than aim for GDP boom , till 2014 we didnt have toilets in 60% of the country. Wealth creation must be only done when wealth is to be divided equally OR will suffer from inequality of high proportions. Yet i think the slowdown will be gone after mid 2020 and when we reach FY 2022 the GDP growth would be surely 8-9%.
Mr Shivam Vij that was one excellent speech full of juicy prevarication and innuendo that the Congress could have used before the election. And maybe they would have paid you handsomely for your pains. Never mind the content still stands good for the Rahul Gandhi style shoot and scoot hectoring. So if you approach the right channels your pains may still bear fruit,
To give credit where it is due, the speech – sorry article – does have two gems which you are artfully saved for the end. The first would put the most accomplished speaker ( and let’s include Modi as well) to shame.
“The Modi government right now must be spending less time preparing the July Budget and more time coming up with red herrings to counter future bad news on the economic front. As a structural slowdown stares us in the face, all we’ll be left with is Jai Shri Ram”
The second one is the proverbial error of ommision as any reader of The Print will testify:-
you say – err write- ” Views are personal.” You could have ended with one sentence of truth by writing :-
“Though I write ‘Views are personal’ they are actually shared by The Print.
I loved your hamming throughout the article though it betrayed some external agenda. Do be more circumspect next time. Remember ‘Little is More’
Excellent!!
Hateful lefties, liberals were quiet for barely 3 weeks and now back to their vicious propaganda. Make no mistake, the people of India will be solidly behind Modi and defeat you commies and congies.
Sure, Congies and commies care more about Indian economy than Modi and BJP.
The biggest lie of the century – the UPA govt this author is so fond of cared more about economic development than politics! But agreed that Modi govt needs to undertake more reforms quickly.
This is mostly an ideologically (leftist – illiberal) motivated article.
Since this article is written By Shivam Vij, who, I think as a good journalist must be keeping himself updated on the dynamics of the global economy. But if NOT, then here is a recent New York Times article for his awareness: https://www.nytimes.com/2019/06/06/business/auto-industry-fiat-renault.html
US-China trade war is causing havoc with global trade; gold is almost touching US$ 1400 an ounce, the highest ever in last one year; the imminent Iran-US conflict is a risk for all major economies; India’s population has been growing for a long time now; resource management was not truly above average, let along superlative during the UPA II rule etc etc etc.
Arre baba, you journalist guys have been shouting so much for the past 5 years. Can’t you relax, wait and watch till next year’s budget before questioning the government? It is surprising that despite such negative press for Modi, Sonia’s son was not crowned as the emperor of India in 2019.
Very nice comment.
Now that upper castes are firmly back in power this time under BJP, expect India to go back to a new version of the old Hindu rate of growth, this time it may be around 4% instead of the older 2% level.
Nice article, covers economics and politics around!
“If India Inc. is worried, it should know the price of cowardice is high.”
The author should know better, that most if not all of India Inc. are on (in)famous the NPA (defaulters) list. So, how can they complain when they themselves are the reasons for the liquidity crunch in the economy.
As expected the abuse cycle has started! How can some one who does not understand get it right? Banarein Hato Raaja comes to my mind!
Author seems to be worried by the fall in automobile sales . But isn’t there a positive side to this ? How can our cities with their limited roads and land area accommodate more and more vehicles ? Should we not see this as a natural demand plateau when people take more to public transport and metros , due to our choked and dusty roads ?
The NDA has probably failed in boosting growth, but before acting they should consider seriously in which sectors we want growth which is compatible with our environmental goals.
Electricity to all, LPG to all, tap water ton all, all homes in villages having electricity connections and road and pucca house are all development.
The economy is not about Syria or Afghanistan. It affects all of us, the least well off the most badly. Why the opposition was unable to leverage the comatose state of the economy during the general election remains a mystery. Why so much of the media looks like Sandra Sarah Huckabee is not. The Budget on 5th July will tell us if the second term will be more productive than the first. How long the idyll will last is difficult to judge. There are always a million mutinies bubbling beneath the surface.
Sarah Huckabee Sanders; my apologies.
Every one wants socialism Freebies subsidies reservation loan waivers. No one wants economic development associated with free market capitalism. Left right and centre all say jai Socialism and show flip the bird at capitalism. No one has the guts to privatize Bharat and achieve double digit growth.
Economic slowdown was sudden and sharp in 2008-9, the economy was propped up by artificial inducement followed by indiscriminate loans to business houses, and it’s fallout and recovery during NDA 2, the tightening of monitory policy and sharp recovery through hard methods has just brought back fundamentals in control be it fiscal deficiency, inflation and interest rates…the recovery of banks from bad loans is nearing corner. NBFC space will recover by end of 2019, and if the monsoons are good, we will see consumer interests going up and we may see business cycle picking up by Nov 19. Principal opposition party is responsible for the mess we are in how can we expect them to talk about it and get exposed further!
Vij has lost his credibility long back. A congress mouthpiece must understand a hopeless opposition was never a challenge for Modi.Economic growth can never be guaranteed as it depends on so many internal and external factors.
Get over the whining and crying dude. If your favorite candidate didn’t win the elections it means end of democracy… right? The elections are over and people have rejected those Centrist, Leftist and all such “baseless” parties because you know what, they don’t care for the nation. They only care about their personal wealth numbers. This govt has an agenda while others have only fiefdoms!
Shivam thinks sheer high GDP growth rate can deliver basic needs to the poor of INDIA. This foolishness and shallow policy making led to policy paralysis in 2013. P Chidamabram thought lower interests rates and phone banking will keep GDP growth rates above 7% BUT it came down to 2.7% due this hollow thought process. Shivam thinks without delivery of basic needs MODI returned to power, THIS negligence will make u extinct in NEW INDIA. NEW GDP BOOM must be across the economic class unlike 2004-09 which was mostly for rich and upper middle class. NEO MIDDLE class has to be included and the poor has to brought into mainstream and this takes time. TALKING about jobs , this selective outrage just shows your utter biasness because JOBS in the formal sector became stagnant after 2012. It was the informal economy which was not taken into consideration and was under severe stress in MODI govt due to liquidity crunch due to NPAs (not because of demo dont mislead!). MUDRA loans were given in large scale and has almost made many of employment oppostunities yet lot of work needs to be done.. THIS is a young INSPIRATIONAL India u dare insult it by telling them that they have no concern about their economic condition. Fruits of high GDP were eaten by UPA1 where was foundation was done by AB Vajpayee .
Do u think GDP boom like 2004-09 will solve health crisis in INDIA, infrastructure and social life. First provide basic needs than aim for GDP boom , till 2014 we didnt have toilets in 60% of the country. Wealth creation must be only done when wealth is to be divided equally OR will suffer from inequality of high proportions. Yet i think the slowdown will be gone after mid 2020 and when we reach FY 2022 the GDP growth would be surely 8-9%.