Importers are hit, exporters have gained; foreign holidays and education abroad are costlier. With international crude prices rising and India’s trade deficit widening, the economy is badly impacted.
The study calculated that approximately 220 million consumers meet the target age range — from 20 to 69 — and minimum income level, which is assumed as at least Rs 2,50,000 per year, to be attractive to lenders for retail credit products.
For FY18, the Gross Domestic Product (GDP) is estimated to grow at 6.6 per cent, as per the second advance estimate of the Central Statistics Office.
The auto and FMCG staples packs seem to be back on track after the disruptions from demonetisation and GST.
An unfavourable base effect also pushed WPI inflation higher. In the WPI data, inflation rate for food articles rose to 0.87% in April against deflation of 0.29% in last month.
Despite unfavourable base effect, indicators like CIL, auto outputs and consumption of petrol grew over 8 per cent in March.
Sectors such as construction and real estate too may be looking up it would seem. The increase in volumes at UltraTech — up 32 per cent y-o-y — came on the back of a ramp up of acquired capacities and a favourable base effect.
Stating that the Reserve Bank of India should be bold while cutting rates, Rakesh Bharti Mittal said that a 100-basis point cut in interest rates may lead to a rise in investments.
By 2016, the country has the highest number of internet shutdowns, igniting debates regarding their legality such as challenges in the High Court of Gujarat.
The Indian economy grew 6.6 per cent in the last fiscal due to lingering effects of demonetisation in 2016, businesses adjusting to goods and services tax (GST) in 2017, and a subdued agriculture.
The revenue growth for the fourth quarter of the 2017-18 fiscal year will be “slightly slow” at 9 per cent as compared to last year.
He further said the policymakers have to reevaluate whether more has to be done to deal with banking sector woes.
Comparing the digital economies of the United States and China, Gopalakrishnan stressed that while US is more card-based, China has moved to Quick Response (QR) codes and mobile payments.
The report, however, observed that a growth of over 8 per cent will require “continued reform and a widening of their scope” aimed at resolving issues related to credit and investment, and enhancing competitiveness of exports.
The social consequences of a larger assimilation of women into our workspace could be staggering. It has the potential to rid our country of the many shameful aspects of our tattered social fabric. We need women, not just in our boardrooms but on our shop floors, in our factories and on our workstations.