30/09/2024
The economic data is still weak For economy to grow, we need to grow both domestic consumption and exports. If we were to increase domestic consumption, we need to bring down the costs of acquisition of autos and its running maintenance, bring down costs of housing. Also the capex is not picking up since most promoters who made big captial investments have lost huge money in the last 15 years India needs to bring down the costs of land, power, capital and improve labour productivity
GDP growth for the December quarter has probably slowed down to 6.6%. So, the economy is certainly looking a bit weak The last quarter could also show further weakness in view of the Indo Pakistan tension. The tension may continue for some more time and hence the entire quarter should be weak. So, the full year growth rates might come in at around 7.1%. With inflation quite low, the net profit growth of corporates will be quite low.
The Government has cut the GST rates for real estate taking it down to 5% for normal houses without Input Tax credit and only 1% for affordable housing without input tax credit. The definition of affordable housing has also been relaxed. However it will be applicable from 1st April 2019. So, the sales and work will be affected until March end.
P. C. Mohanan, the former acting head of the National Statistical Commission, said questions raised about the agency’s work by a government think tank, the withholding of a jobs report and the lack of enough statisticians were taking a toll on the institution. He, along with another colleague, resigned in January in protest.
Balochistan is crucial to the success of the China-Pakistan-Economic-Corridor (CPEC), but the restive province through which the initiative passes poses a stiff challenge to China as Baloch nationalists are up in arms against what they see as Beijing’s designs to exploit the area.