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

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."

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Is hiding promise of bribe in India a crime in US? That's what CNN reports on Adanis

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Two persons with old typewriters off SLC's fashionable street, writing poems on postcards!

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That's true of Gujarat too: Patna HC says, Bihar's liquor ban led to illegal liquor trade; cops, officials love it

A recent Patna High Court judgment on alcohol ban in Bihar can as well be applied to Gujarat. As reported by a legal news portal, under the title "State's Alcohol Ban Led To Illegal Liquor Trade; Police, Excise, Tax, Transport Dept Officials Love The Ban As It Means Big Money: Patna HC", the story by Malavika Prasad says that while quashing the penalty of demotion imposed on an inspector on the ground that he had been negligent in implementing the excise prohibition law, the Patna High Court observed that though the law was passed with the objective of improving public health, "for several reasons, it finds itself on the wrong side of the history".

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