current economic slowdown in india

by: Sarwar Iqbal

The GDP growth rate of the economy has slipped to 5 per cent in the first quarter of FY20, the slowest in last six years. The continously rise in job losses from automobile sector to biscuits making industry has led to a general acceptance about economic crisis in India. This downturn has crept into several sectors including manufacturing, trades, hotel, transport, communication, construction and agriculture.

 

Growth rate of Gross Value Added (GVA) , i.e., GDP minus net products taxes, declined to 4.9% in the first quarter of this financial year as against 7.7% last year. Nominal GDP growth rate slipped to 8.0% compared to 12.6% last year.

causes of economic downturn

The recent collapse of automobile sector, rising number of non-performing assest (NPAs), sluggish consumer demand, slowing private investment and failing manufacturing sector, resulting in a destructive unemployment, are the key factors behind economic slowdown.
Automobile industry, creating 370 lakh jobs and distributing 12% to the national GDP, is suffering from a huge slowdown. More than 3 lakh jobs are lost in the sector.

There is also a sharp fall in Private Final Consumption Expenditures (PFCE) in the June quarter, to 3.1% as compared to 7.2% in the March quarter.
Manufacturing sectors sectors are experiencing a very slow growth rate. In April-June, it slumped to 0.6% as against to 12% last year in the same corresponding period.
As per RBI annual report for 2018-19, it insists that the deceleration in the economy is a kind of “cyclical downswing” rather than a deep “structural slow down”. But this statement needs to be pondered over.

Solutions for the downswing

To bounce back on the right growth trajectory, government needs to come out with several measures;
A: *Reduction of taxes ; It will reduce the cost of products and will increase PFCE, resulting in the reform of the economy.
B: Improvement of liquidity
Improvement of liquidity in the banking sector is also must to increase private investment and to come over the huge unemployment situation as it will help to create more and more jobs.
C: Rationalisation of GST
Even if it leads to the loss in revenue in the short term but will boost the economy in long term as GST has damaged several sectors especially MSMEs.
D: Revival of major job-generating sectors
Such as textile, auto, electronic and subsidised housing. Easy loans need to be provided for this purpose especially to MSMEs.

 

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  1. What’s up?

    I found this article very interesting…please read!

    Do you remember the blockbuster hit film The Matrix that was released in 1999? You may not know this, but it has deep spiritual implications concerning the times we are living in and Bible prophecy.

    It tells a story of how these “agents” are trying to turn us into machines. We are closer then ever before for this to become a reality when they cause us to receive an implantable microchip in our body during a time when physical money will be no more.

    You may have seen on NBC news concerning the implantable RFID microchip that some people are getting put in their hand to make purchases, but did you know this microchip matches perfectly with prophecy in the Bible?

    “He (the false prophet who deceives many by his miracles) causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name…

    You also may have heard of the legendary number “666” that people have been speculating for possibly thousands of years on what it actually means. This article shares something I haven’t seen before, and I don’t think there could be any better explanation for what it means to calculate 666. This is no hoax. Very fascinating stuff!

    …Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666″ (Revelation 13:16-18 NKJV).

    To see all the details showing why the Bible foretold of all these things, check out this article!

    Article: https://biblewoke.com/rfid-mark-of-the-beast-666-revealed

    GOD is sending out His end time warning:

    “Then a third angel followed them, saying with a loud voice, ‘If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name'” (Revelation 14:9-11).

    In the Islamic religion they have man called the Mahdi who is known as their messiah of whom they are waiting to take the stage. There are many testimonies from people online who believe this man will be Barack Obama who is to be the biblical Antichrist based off dreams they have received. I myself have had strange dreams about him like no other person. So much so that I decided to share this information.

    He came on stage claiming to be a Christian with no affiliation to the Muslim faith…

    “In our lives, Michelle and I have been strengthened by our Christian faith. But there have been times where my faith has been questioned — by people who don’t know me — or they’ve said that I adhere to a different religion, as if that were somehow a bad thing,” – Barack Obama

    …but was later revealed by his own family members that he indeed is a devout Muslim.

    So what’s in the name? The meaning of someones name can say a lot about a person. God throughout history has given names to people that have a specific meaning tied to their lives. How about the name Barack Obama? Let us take a look at what may be hiding beneath the surface…

    “And He (Jesus) said to them (His disciples), ‘I saw Satan fall like lightning from heaven'” (Luke 10:18).

    In the Hebrew language we can uncover the meaning behind the name Barack Obama.

    Barack, also transliterated as Baraq, in Hebrew is: lightning

    baraq – Biblical definition:

    From Strongs H1299; lightning; by analogy a gleam; concretely a flashing sword: – bright, glitter (-ing, sword), lightning. (Strongs Hebrew word H1300 baraq baw-rawk’)

    Barak ‘O’bamah, The use of bamah is used to refer to the “heights” of Heaven.

    bamah – Biblical definition:

    From an unused root (meaning to be high); an elevation: – height, high place, wave. (Strongs Hebrew word H1116 bamah baw-maw’)

    The day following the election of Barack Obama (11/04/08), the winning pick 3 lotto numbers in Illinois (Obama’s home state) for 11/5/08 were 666.

    Obama was a U.S. senator for Illinois, and his zip code was 60606.

    Seek Jesus while He may be found…repent, confess and forsake your sins and trust in the savior! Jesus says we must be born again by His Holy Spirit to enter the kingdom of God…God bless!

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