The indications of a slowing economy have been in the air for some time. The government’s reaction, though, has been aimed at downplaying the bad picture emerging.
Hardev Sanotra
Editor
What Seshan did to the election commission – with toughness, unwillingness to bend and sometimes eccentricity – is well documented.
Esther Duflo says fear of migration is often made worse by governments who want to be seen to be doing something about the problem.
The number of poor in India has been slashed, says Duflo. 'But that does not mean we should be happy. That is not enough,' she says.
Pyush Goyal commented in a dismissive fashion after it was announced that the Sveriges Riksbank Prize in economics set up in memory of Alfred Nobel was awarded to Esther Duflo, husband Abhjit Banerjee, and Michael Kremer.
The post-policy statement of RBI clearly indicates that the central bank is likely to continue to remain dovish.
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What will come as a further relief for companies would be the decision to do away the minimum alternate tax for those who opt for the new regime.
The government's plan to organise at least four Mega Shopping Festivals is aimed at providing incentives to small and medium enterprises to sell or export their products.
It would be wrong to look at the taxi services to identify the slump. The reasons are elsewhere, related to the overall slump of the economy which showed a low GDP growth of 5 per cent in August this year as compared to 8 per cent growth in the same month last year.
On the economic front, the government has shown a moon-walk-like approach--unsure of the terrain that it is stepping into, while blasting away on the political front with unknown consequences.
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