'Biocon Chairperson and Managing Director Kiran Mazumdar Shaw on Sunday said the government did not want to hear any criticism on the economy while expressing hope that it reaches out to India Inc. to work out solutions to revive growth. Shaw’s remarks came a day after veteran industrialist Rahul Bajaj said the people were afraid to criticise the government...'
'India’s economy grew at its slowest pace in six years for the second quarter of this fiscal year, according to official data released by the government on Friday evening. Gross domestic product (GDP) growth rose just 4.5% for the quarter ended September 2019, in a development that reinforces concerns that the Indian economy is slowing down and unlikely to record 6% growth for the whole fiscal year. In ‘gross value added’ (GVA) terms, the economy grew at 4.3% compared to 4.9% in the previous quarter.
'The Centre has admitted in parliament that the unemployment rate in rural areas nearly doubled from 2.9% in 2013-14 to 5.3% in 2017-18. In the same period, there was over 50% increase in unemployment in urban areas. The most striking trend has been the rise in unemployment among urban males from 3% to 6.9% during the two year period from 2015-16 to 2017-18...'
'A government committee set up in February examined computers and pen drives and interrogated officials in charge of printing documents in an effort to identify the source of a leaked report showing that unemployment figures had hit a four-decade high in the year after demonetisation. Details of the report were published in the Business Standard in January, after the government’s refusal to release the data prompted two senior officials of the National Statistical Commission to resign in protest the same month.
'Over 200 economists, academics and journalists on November 21 issued a statement demanding the release of NSSO consumption survey data. The government had on November 15 put the report on hold citing data quality issues, after a media report said consumer spending had slowed down for the first time in more than 40 years. Here is the full statement...'
'A leaked report by the National Statistical Office (NSO), based on a consumption expenditure survey conducted by the organisation between July 2017 and June 2018, has shown a drop in consumer spending for the first time in more than four decades on weak rural demand, Business Standard reported on Friday, 15 November. However, hours after the newspaper report, the government said that the 2017-18 consumer spending survey won't be released due to "data quality issues.” It added that the government will release the next report in two years...'
'After deciding to invite top global giants to bid for stakes in two oil companies, Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL), the spectre of privatisation now looms over another major public sector unit -- Indian Oil Corporation (IOC). The Modi Government is planning to reduce its stake in the Indian Oil to below 51%, reported Business Standard.
'INDIA’S ECONOMY is “doing very well” and the indicators are visible — weddings are not being called off, and trains and airports are full, Union MoS for Railways Suresh Angadi said Friday. Responding to a question from The Indian Express on the state of the economy, Angadi said “common people are happy” but some are trying to “damage the name” of Prime Minister Narendra Modi on this issue...'
'Another shocking scoop from Business Standard showed that the Narendra Modi government did not release a report that showed economy in distress. India's consumer spending fell for the first time in four decades according to a survey approved for release in June 2019, but is yet to hit the public domain. This is the second time a similar allegation has been made against the government; another NSO survey on rising unemployment was held back from release by the government until the elections were over...'
'NRC, communal citizenship laws or the instituting of a uniform law code for all communities: the decks are clear for the BJP to move forward on its agenda... On Saturday, the Supreme Court decided on the Ayodhya dispute, ruling that a Ram temple will come up on the disputed spot where, till 1992, the Babri Masjid stood. The judgment is hugely significant, revolving around an intersection of faith and politics that has gripped and driven India for the past three decades. Now that the legal dispute is over, what does this point of inflection mean for Indian politics going forward?
