Invigorating the Economy & Tackling Lackluster Growth
S. K. Khanna
It may be an exaggeration but it is an exaggeration of a vital fact that the economic growth has slipped. It is no secret that the wave of DeMo and GST has affected many sectors of the economy. The PM in his address to the corporate sector, has admitted that the economy has slowed down but that the government is totally committed to reversing this trend in the next few quarters. Lowering the GDP forecast to 6.7 from 7.3 percent, RBI is confident that the economic performance will be better in the coming quarters, but has put the onus of reviving the economy on the government, calling for meaningful structural reforms to arrest the current slide.
Despite all the gloom in macro-economic terms, the economy remains very stable, according to the PM. Statistics showed that several sectors of the economy have recorded double-digit growth during the second half of 2017. He said that the economy has been moving faster in the current three years compared to the earlier three years.
Foreign direct investment jumped 18% to a record level of $46.4 billion with manufacturing, construction, mining, renewable sector registering an annual rise of inflow of 30-35%. A number of states witnessed the biggest spurt in new industrial investments over the past two years, with most new ventures being set up in those states.
It may be an exaggeration but it is an exaggeration of a vital fact that the economic growth has slipped. It is no secret that the wave of DeMo and GST has affected many sectors of the economy. The PM in his address to the corporate sector, has admitted that the economy has slowed down but that the government is totally committed to reversing this trend in the next few quarters. Lowering the GDP forecast to 6.7 from 7.3 percent, RBI is confident that the economic performance will be better in the coming quarters, but has put the onus of reviving the economy on the government, calling for meaningful structural reforms to arrest the current slide.
Despite all the gloom in macro-economic terms, the economy remains very stable, according to the PM. Statistics showed that several sectors of the economy have recorded double-digit growth during the second half of 2017. He said that the economy has been moving faster in the current three years compared to the earlier three years.
Foreign direct investment jumped 18% to a record level of $46.4 billion with manufacturing, construction, mining, renewable sector registering an annual rise of inflow of 30-35%. A number of states witnessed the biggest spurt in new industrial investments over the past two years, with most new ventures being set up in those states.
This is a premium article available exclusively for our subscribers.
If you are already a subscriber, please Login
If not, subscribe now and get access to well researched articles & reports on infrastructure construction, equipment & machinery, innovations & technology, project reports, case studies, and more. All this by simply paying just ₹200/- for a month of complete portal access, or a discounted rate of ₹1000/- for a full year of access.
NBM&CW November 2017
