JP Morgan: India's lowest growth in 5 years, 5.8%, worrying; recovery may be slow

By Our Representative
Commenting on India’s January-March 2019 GDP growth, which "surprised sharply to the downside, printing at a 5-year low of 5.8%", JP Morgan, the American multinational investment bank and financial services company headquartered in New York City, has said that it has not just "dragged down full-year growth also to a five-year low of 6.8%".
It underlines, "The GDP undershoot reinforces the discernable slowdown that is currently underway. Growth has largely been flying on one engine in recent years – private consumption – and that has gotten progressively exhausted."
Worse, in its commentary, authored by Sajjid Z Chinoy and Toshi Jain, who are with the top MNC's
Emerging Markets Asia Economic and Policy Research wing, say, even this is "buffeted by sustained rural distress and a significant tightening of financial conditions amongst the Non Bank Financial Companies (NBFC), which have largely been financing consumption."

Continue the JP Morgan experts, as for public investment, it suffers from "lack of fiscal space with the total public sector borrowing requirement rising to almost 9% of GDP", and while exports bounced back strongly in 2018-19, they "are likely to slow meaningfully as global uncertainty rises (especially after the US has opened up a second flank in its trade war) and global growth momentum slows."

Giving figures on how Gross Value Added in agriculture and industry have been going down over the last one year, JP Morgan predicts, "Slowing consumption growth at home along with a cloudy outlook for exports, creates the worrying prospect of some hysteresis and suggests growth is likely to recover only slowly in the coming quarters."

Comments

A Hindu alternative to Valentine's Day? 'Shiv-Parvati was first love marriage in Universe'

By Rajiv Shah* The other day, I was searching on Google a quote on Maha Shivratri which I wanted to send to someone, a confirmed Shiv Bhakt, quite close to me -- with an underlying message to act positively instead of being negative. On top of the search, I chanced upon an article in, imagine!, a Nashik Corporation site which offered me something very unusual.

'Anti-poor stand': Even British wouldn't reduce Railways' sleeper and general coaches

By Anandi Pandey, Sandeep Pandey* Probably even the British, who introduced railways in India, would not have done what the Bhartiya Janata Party government is doing. The number of Sleeper and General class coaches in various trains are surreptitiously and ominously disappearing accompanied by a simultaneous increase in Air Conditioned coaches. In the characteristic style of BJP government there was no discussion or debate on this move by the Indian Railways either in the Parliament or outside of it.

Why convert growing badminton popularity into an 'inclusive sports opportunity'

By Sudhansu R Das Over the years badminton has become the second most popular game in the world after soccer. Today, nearly 220 million people across the world play badminton. The game has become very popular in urban India after India won medals in various international badminton tournaments. One will come across a badminton court in every one kilometer radius of Hyderabad.

Faith leaders agree: All religious places should display ‘anti-child marriage’ messages

By Jitendra Parmar* As many as 17 faith leaders, together for an interfaith dialogue on child marriage in New Delhi, unanimously have agreed that no faith allows or endorses child marriage. The faith leaders advocated that all religious places should display information on child marriage.

Swami Vivekananda's views on caste and sexuality were 'painfully' regressive

By Bhaskar Sur* Swami Vivekananda now belongs more to the modern Hindu mythology than reality. It makes a daunting job to discover the real human being who knew unemployment, humiliation of losing a teaching job for 'incompetence', longed in vain for the bliss of a happy conjugal life only to suffer the consequent frustration.

Ayurveda, Sidda, and knowledge: Three-day workshop begins in Pala town

By Rosamma Thomas* Pala town in Kottayam district of Kerala is about 25 km from the district headquarters. St Thomas College in Pala is currently hosting a three-day workshop on knowledge systems, and gathered together are philosophers, sociologists, medical practitioners in homeopathy and Ayurveda, one of them from Nepal, and a few guests from Europe. The discussions on the first day focused on knowledge systems, power structures, and epistemic diversity. French researcher Jacquiline Descarpentries, who represents a unique cooperative of researchers, some of whom have no formal institutional affiliation, laid the ground, addressing the audience over the Internet.

Article 21 'overturned' by new criminal laws: Lawyers, activists remember Stan Swamy

By Gova Rathod* The People’s Union for Civil Liberties (PUCL), Gujarat, organised an event in Ahmedabad entitled “Remembering Fr. Stan Swamy in Today’s Challenging Reality” in the memory of Fr. Stan Swamy on his third death anniversary. The event included a discussion of the new criminal laws enforced since July 1, 2024.

Hindutva economics? 12% decline in manufacturing enterprises, 22.5% fall in employment

By Bhabani Shankar Nayak* The messiah of Hindutva politics, Narendra Modi, assumed office as the Prime Minister of India on May 26, 2014. He pledged to transform the Indian economy and deliver a developed nation with prosperous citizens. However, despite Modi's continued tenure as the Prime Minister, his ambitious electoral promises seem increasingly elusive.

Union budget 'outrageously scraps' scheme meant for rehabilitating manual scavengers

By Bezwada Wilson* The Union Budget for the year 2024-2025, placed by the Finance Minister in Parliament has completely deceived the Safai Karmachari community. There is no mention of persons engaged in manual scavenging in the entire Budget. Even the scheme meant for the rehabilitation of manual scavengers (SRMS) has been outrageously scrapped.

Search This Blog