Economy in prolonged slowdown: Manmohan Singh
5 years, 4 months ago

Economy in prolonged slowdown: Manmohan Singh

Hindustan Times  

Former prime minister Manmohan Singh said on Sunday the Indian economy is “in the midst of a prolonged slowdown” because of “all-round mismanagement by the Modi government” and it has not yet recovered from the “man-made blunders” of demonetisation and the “hastily implemented” Goods and Services Tax. Referring to a slew of announcements made by Sitharaman on August 23 to achieve a “higher economic growth”, Singh said: “Budget announcements and roll-backs have shaken the confidence of international investors.” The announcements to boost consumption and uplift investor and consumer sentiment included rolling back of the surcharge on tax on foreign portfolio investors that was announced in the budget. Chief economic adviser KV Subramanian has ascribed the slowdown in GDP growth to a mix of domestic and global factors and said the economy will be on a high-growth path “very soon”. Former union minister and spokesperson of the Bharatiya Janata Party Syed Shahnawaz Hussain blamed the Singh-led United Progressive Alliance government for “many problems” that the economy was currently facing.

India Economy Growth Tax Congress Economic Minister Singh Modi Sitharaman Our Economy Manmohan Singh Slowdown Sane Voices  manmohan  modi  prolonged  gst  slowdown  india  economic  singh  minister  economy  tax  growth

History of this topic

‘GDP slowdown in Q2 not systemic, economic activity to compensate’: Nirmala Sitharaman
1 month, 1 week ago

‘GDP slowdown in Q2 not systemic, economic activity to compensate’: Nirmala Sitharaman

Hindustan Times  

The recent slowdown in India's gross domestic product growth rate was not “systemic” and economic activity in the third quarter would compensate for the moderation, Finance Minister Nirmala Sitharaman asserted on Friday. I expect Q3 to make up for all these.” The senior BJP leader added, “So, the growth number is something which is not necessarily going to be badly …

Modi govt's mismanagement has set economic transformation back by 20 years: Cong
10 months, 3 weeks ago

Modi govt's mismanagement has set economic transformation back by 20 years: Cong

Deccan Chronicle  

Underlining that economic growth means diversification of employment from agriculture to industry to services, the Congress on Saturday claimed that the progress achieved under Manmohan Singh's prime ministership in this direction has been reversed by the Narendra Modi government. The current dispensation's "mismanagement" has set the economic transformation back by 20 years, the party alleged.Congress general secretary Jairam Ramesh said …

Sitharaman says India’s fundamentals sound because of steps taken by govt
2 years, 7 months ago

Sitharaman says India’s fundamentals sound because of steps taken by govt

Live Mint  

Finance minister Nirmala Sitharaman on Wednesday said India’s fundamentals are sound due to several steps taken by the government such as reducing corporate tax, ensuring that the economy is greatly digitized and bringing in the Goods and Service Tax and bankruptcy code. Citing a study, Sitharaman said the Pradhan Mantri Garib Kalyan Yojana reduced the probability of borrowing money significantly …

Indian economy coming back on track at ’more speed than expected’: Javadekar
4 years, 2 months ago

Indian economy coming back on track at ’more speed than expected’: Javadekar

Live Mint  

Thanks to higher Goods and Services Tax collections and rise in power demand, Indian economy is coming back on track at "more speed than expected," Union minister Prakash Javadekar said on Wednesday. An increase in rail freight collection, higher GST collections in October, rise in power demand and improved Foreign direct investment inflows in the recent months indicate that the …

Modionomics Has Failed, Should Listen to Manmohan Singh to Revive Economy: Adhir Chowdhury
4 years, 4 months ago

Modionomics Has Failed, Should Listen to Manmohan Singh to Revive Economy: Adhir Chowdhury

News 18  

Leader of Congress in Lok Sabha, Adhir Ranjan Chowdhury Monday slammed the Centre for the negative GDP growth and said “Modinomics” has fallen flat and “jingoism cannot be a remedy to revive the economy”. Chowdhury, who is a member of Congress Working Committee as well, suggested that Modi should “listen patiently to former Prime Minister Manmohan Singh to revive the …

Demonetisation led to GDP slump: Rahul Gandhi
4 years, 4 months ago

Demonetisation led to GDP slump: Rahul Gandhi

Deccan Chronicle  

New Delhi: Attacking the Centre over the slump in GDP, the Congress on Tuesday said that the economy was ruined from the day demonetisation was announced and it continued after the Modi government introduced one erroneous policy after another. Since then, the government introduced one erroneous policy after another," former Congress president Rahul Gandhi tweeted on Tuesday. “Rahul Gandhi had …

Economic slowdown inevitable, govt needs to spend more: Manmohan Singh
4 years, 5 months ago

Economic slowdown inevitable, govt needs to spend more: Manmohan Singh

India Today  

Noted economist and senior Congress leader Manmohan Singh said the government needs to increase spending in order to tackle the economic crisis triggered by the coronavirus pandemic. In a recent email interaction with the BBC, Singh offered an action plan and urged the government to follow it tackle the humanitarian crisis triggered by the coronavirus pandemic. Singh said the Modi …

Manmohan Singh Says Govt Does Not Acknowledge the Word 'Slowdown', Corrective Action Unlikely
4 years, 10 months ago

Manmohan Singh Says Govt Does Not Acknowledge the Word 'Slowdown', Corrective Action Unlikely

News 18  

New Delhi: Attacking the Modi government on the state of the economy, former prime minister Manmohan Singh on Wednesday said the current dispensation does not acknowledge the word “slowdown” and the real danger is that if problems are not recognised, then finding credible answers to take corrective action is unlikely. Addressing a gathering at the launch of Montek Singh Ahluwalia’s …

Modi govt does not acknowledge the word 'slowdown': Manmohan Singh
4 years, 10 months ago

Modi govt does not acknowledge the word 'slowdown': Manmohan Singh

India Today  

Attacking the Modi government on the state of the economy, former prime minister Manmohan Singh on Wednesday said the current dispensation does not acknowledge the word "slowdown" and the real danger is that if problems are not recognised, then finding credible answers to take corrective action is unlikely. Addressing a gathering at the launch of Montek Singh Ahluwalia's book "Backstage", …

Early data hints green shoots in Indian economy. Has it bottomed out?
5 years ago

Early data hints green shoots in Indian economy. Has it bottomed out?

Hindustan Times  

Initial high-frequency indicators for December 2019 suggest some sort of revival in the Indian economy. Goods and Services Tax collections were above Rs 1 lakh crore for the second consecutive month in December. Centre for Monitoring Indian Economy’s capex database shows that new investment announcements have posted a positive growth in the December quarter, the first since June 2018. The …

Economy to recover soon from effects of global slowdown, says Amit Shah
5 years ago

Economy to recover soon from effects of global slowdown, says Amit Shah

India Today  

Union Home Minister Amit Shah, in an interview with Aaj Tak at the Aaj Tak Agenda, talked about the economy of India. When Amit Shah was asked about the Bharatiya Janata Party's promise to deliver a gross domestic product at 10 per cent, which is presently at 4.5 per cent, Amit Shah said that the government touched 7.8 per cent …

Economy is in intensive care with no quick relief in sight; can cutting personal tax, raising GST offer a magic cure?
5 years, 1 month ago

Economy is in intensive care with no quick relief in sight; can cutting personal tax, raising GST offer a magic cure?

Firstpost  

Economists love to give names for periods of prolonged economic slowdown. The former chief economic advisor, Arvind Subramanian, calls the current economic crisis the country is experiencing as India’s ‘great slowdown’, something he equates to the economic crisis India witnessed in FY'91-92 when the gross domestic product growth rate fell to 1.1 percent, currency tumbled and most macroeconomic indicators collapsed. …

India braces for shock GDP as Modi scrambles to spur economy
5 years, 1 month ago

India braces for shock GDP as Modi scrambles to spur economy

Live Mint  

New Delhi: Explore what’s moving the global economy in the new season of the Stephanomics podcast. “Domestic demand is displaying chronic weakness, with an apparent credit crunch afflicting wide swaths of the economy,” said Taimur Baig, chief economist at DBS Group Holdings Ltd. in Singapore. “Production and sales are under pressure, and public spending is running out of room due …

Economy is bad, BJP-led government has left people to suffer, says Priyanka Gandhi
5 years, 2 months ago

Economy is bad, BJP-led government has left people to suffer, says Priyanka Gandhi

The Hindu  

Congress general secretary Priyanka Gandhi Vadra on Thursday targeted the Narendra Modi government over its economic policies by stating that while citizens were reeling under hardship, leaders were enjoying themselves. Ms. Vadra took a dig at the Prime Minister by stating that the issue of H1-B visas to Indian professionals had declined ever since his “Howdy Mody!” event in Houston …

Slowdown is just a passing phase, says Piyush Goyal
5 years, 2 months ago

Slowdown is just a passing phase, says Piyush Goyal

The Hindu  

Union Minister of Railways and Commerce Piyush Goyal on Thursday termed the current economic slowdown as just a passing phase and said that efforts being taken by the government only showed that it cared. Reacting to former prime minister, Dr. Manmohan Singh’s views on the economic slow down the country is facing, the Union Minister said that he was surprised …

Economy was strong under Manmohan Singh: Rahul Gandhi
5 years, 3 months ago

Economy was strong under Manmohan Singh: Rahul Gandhi

India Today  

Slamming the Bharatiya Janata Party government for all-round failure on the economic front, Congress leader Rahul Gandhi said here on Sunday that under the former UPA Prime Minister Manmohan Singh, Indian economy was very strong and flourished, earning the admiration of the whole world. Earlier, attacking the BJP during his maiden election rally in Latur over "massive unemployment", the Congress …

BJP government should accept ‘historic slowdown’ of country's economy, work towards resolving it, says Priyanka Gandhi Vadra
5 years, 4 months ago

BJP government should accept ‘historic slowdown’ of country's economy, work towards resolving it, says Priyanka Gandhi Vadra

Firstpost  

New Delhi: Congress leader Priyanka Gandhi Vadra on Tuesday criticised the BJP-led central government over “historic slowdown” in the economy. Priyanka said the Centre should accept that there is a slowdown and should work towards measures to resolve it. The BJP government should accept that there is a historic slowdown in the economy and they should move towards measures to …

Why Narendra Modi government must acknowledge the economic slowdown. Now.
5 years, 4 months ago

Why Narendra Modi government must acknowledge the economic slowdown. Now.

India Today  

Over the past few weeks, Finance Minister Nirmala Sitharaman announced several measures to tackle economic slowdown. These steps have come after India's GDP growth in the first quarter of FY20 slowed to 5 per cent--the lowest in 25 quarters or in six years. However, key Indian sectors are facing a slowdown that seems far more than a cyclical occurrence, said …

Manmohan Singh hits out at Modi govt, calls slowdown ’man-made crisis’
5 years, 4 months ago

Manmohan Singh hits out at Modi govt, calls slowdown ’man-made crisis’

Live Mint  

New Delhi: Days after the finance ministry reported contraction in the GDP growth, former prime minister Manmohan Singh on Sunday slammed the Narendra Modi government blaming its policies for the economic slowdown in the country. "India has the potential to grow at a much faster rate, but the all-round mismanagement by the Modi government has resulted in this slowdown," said …

India facing prolonged slowdown: Manmohan Singh
5 years, 4 months ago

India facing prolonged slowdown: Manmohan Singh

The Hindu  

Former Prime Minister Manmohan Singh on Sunday said the 5% growth in India’s Gross Domestic Product signalled a prolonged slowdown and asked the government to engage with “thinking minds by shunning vendetta politics to take the economy out of a man-made crisis.” In a video statement, he said the state of the economy was “deeply worrying” and the near zero% …

State of Indian economy: Decoding the 5% problem
5 years, 4 months ago

State of Indian economy: Decoding the 5% problem

Hindustan Times  

On Friday, the Central Statistics Office released India’s GDP figures for the quarter ending June 2019. The measures announced in the conference held on 23 August can be classified into three broad categories and also listed in order of importance: boosting business sentiment in the economy, removing supply-side hurdles to the flow of credit and working capital, and boosting demand …

India GDP growth: economy slumps again as Modi begins second term
5 years, 7 months ago

India GDP growth: economy slumps again as Modi begins second term

CNN  

New Delhi CNN Business — Narendra Modi just won a second term as prime minister of India. Modi, who first swept to power in 2014 on promises to revive India’s economy and boost growth, won re-election by an even bigger margin in the latest vote which concluded on May 23. Another set of figures released on Friday revealed that India’s …

PM Modi's big win signals strong Indian GDP growth will continue
5 years, 7 months ago

PM Modi's big win signals strong Indian GDP growth will continue

India TV News  

Steller performance of Prime Minister Narendra Modi's BJP with another large parliamentary majority will see continuity of macroeconomic policy in the next five years but the key economic challenge now is to continue reforms, brokerages and economists said on Thursday. "Despite significant achievements in infrastructure development during PM Modi's first term, rapid infrastructure development in key sectors such as transport …

Discover Related