After years of fast-paced growth, India’s economy is losing steam. In this country of more than a billion people, domestic consumption is one of the main drivers of growth but unemployment is rising and people’s purchasing power has taken a hit.
While the government maintains that the economic slowdown is temporary and a revival is not too far ahead, for now the impact of the slowdown is being felt across industries. Car sales are declining, private investment is slowing down and the shadow banking sector is in a crisis.
India’s central bank has cut interest rates to boost the slowing economy, but is this enough? And with ambitions to become one of the world’s most powerful economies, which sectors can help drive India’s growth in the next 10 years?
We speak to the vice chairman of the Indian government’s policy think tank, an independent economic analyst, and a business journalist. We ask them what India can do to beat the current economic slowdown.

Presenter: Devina Gupta
Contributors: Rajiv Kumar, Vice Chairperson, NITI Aayog government think-tank; Pranjal Sharma, Independent Economic Analyst and author; Shweta Punj, Deputy Editor, India Today and Young Global Leader (World Economic Forum)

From Delhi, #WorklifeIndia reflects on money, work, family and business.

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39 replies
  1. divya arora
    divya arora says:

    Reports of international organization shows that inequality consistently increase over a period of time…let me put some data from " OXAM" – top 1% richest segment possesses 58.5% of wealth. This is how we are going towards inclusive growth.👍..Through our policies we favour Adani & Ambani's…Telecom sector is relling under distree due to disruption created by Relaince jio….

    Reply
  2. Peri Kamesh
    Peri Kamesh says:

    ALL INDIANS SHOULD UNDERSTAND FEW ISSUES.

    MAN(MAD) MOHAN SINGH IS NOT A ECONOMIST.HE IS A BUDGET ASSISTANT..

    SCAM GRESS PARTY HEADED BY BAR ATENDER AND MAD MOHAN SINGH HAS RAPED INDIAN ECONOMY FOR 10 YEARS WITH FEW HUNDRED SCAMS.

    IT WILL TAKE ANY GOVT 14 YEARS TO REVIVE THE ECONOMY.

    DEMONITISATION HAS REMOVED FEW LAKH CRORES OF CURRENCY PRINTED BY PAKISTAN ETC ETC (SAME NUMERED ORIGINAL NOTES BEING PRINTED MORE THAN TWICE) THIS HAS REDUCED ILLEGAL/ FALSE PURCHASING POWER.

    GST HAS REDUCED BLACK MARKETING/SELLING WITH OUT BILLS ETC ETC HENCE NUMBER TWO BUSINESS PEOPLE ARE NOT ABLE TO SPEND LIKE EARLIER.

    BJP GOVT ACTING STRICTLY ON TAX EVADERS,SO THEY ARE NOT BRINGING BLACK MONEY OUT,IF THEY BRING BLACK MONEY (IN SCAM GRESS GOVT BLACK MONEY HOLDERS USED TO CONTROL GOVT) OUT THEY ARE BEING WATCHED BY GOVT OFFICIALS. POSSIBILITY OF BEING COUGHT FOR THEIR SPENDINGS.

    ALL OVER WORLD THERE IS ECONOMIC RECESSION. THAT HAS IMPACTED INDIAN ECONOMY ALSO.

    MANY SOFTWARE COMPANIES ARE SENDING OUT THEIR MIDDLE LEVEL MANAGERS OUT OF JOB.PURCHASING POWER OF THESE PEOPLE HAS COME DOWN.THEY ARE ONE IMPORT SECTION OF ECONOMY BOOSTERS.

    INDIAN PARLIAMENTRIANS ARE CREATING FALSE NARRATIVES IN PARLIAMENT.SCAM GRESS PEOPLE BRING UNWANTED TOPICS LIKE GODSE,BABRI MASJID,KASHMIR VOILENCE,MOB LYINCHING ETC ETC AND DEFAME THIS NATION INDIA BEFORE INTERNATIONAL COMMUNITIES ,SO INVETMENT WHICH HAS TO COME TO INDIA IS NOT COMING.

    ILLEGAL MIGRANTS MORE THAN 5.00 CRORES CAME INTO INDIA,THEY SQUEEZED THE OPPURTUNITIES OF LOCALS.HENCE EARININGS OF LOCALS HAVE COME DOWN.

    POLITICS – IN INDIA OUR POLITICAL SYSTEM IS SUCH THAT 24X7X365 WE WILL HAVE ONE ELECTION OR THE OTHER ,WHICH REDUCES THE ATMOSPHERE OF GROWTH THINKING.

    POPULATION -Every year india produces more than one Australia,INDIA spends Most /more of its budget money on welfare schemes.No big money to INVEST.

    POLITICIANS MAKE HUGE MONEY IN CORRUPTION,THEY SEND THAT MONEY TO TAX HEAVENS ALL THAT MONEY HAS GONE OUT OF SYSTEM. RS 2000 NOTES WHERE ARE THEY. MONEY GOING OUT OF SYSTEM.

    LIKE AWARD WAPSI GANG

    LIKE IN TOLERENCE GANG

    LIKE MOB LYNCHING GANG

    A SECTION OF MEDIA,SOCIAL MEDIA ETC ETC PLATFORMS ALLWAYS DEMONISE THE COUNTRY CALLED INDIA ,BEFORE INTERNATIONAL COMMUNITIES ,THIS NEGATIVE IMAGE HAS STOPPED UP COMING INVESTMENT BY FOREIGN COMPANIES.

    ANTI CONVERSION FUNDS HAVE COME DOWN .PURCHASING POWER LOST BY A SECTION OF PEOPLE.

    Reply
  3. Aniket Shikhare
    Aniket Shikhare says:

    This discussion shows that… India is too much impatient When modi set target for 5 trillion economy size… He set an expectation.. and Indians are now expecting too much with our all sectors who have been running on models from past 50-60 years. people has to understand that u cannot achieve 5 trillion economy in 1 year… Government is trying to create eco system for business growth bu disinvestment, Cutting corporate taxes. People need to keep doing better in krder to achieve better. Modi or BJP alone can't do it.. its the entrepreneurs. Everyone can agree on the fact that Congress can never achieve this growth.. they were in power till now. They never set any target for economy.

    Reply
  4. ajay patidar
    ajay patidar says:

    Supreme court judgement and National Green tribunal are biggest threat to INDIAN ECONOMY,
    they don't find the way to coorect the problem , they just close the industry and fine them.

    Reply
  5. ajay patidar
    ajay patidar says:

    Limiting import, supporting core sector by easing rules, there is no need to harsh on sector by the mean of enviornmentall norms, rather than they must create a body to correct it, and finding the middle way to deal.

    Reply
  6. Rrr Rr
    Rrr Rr says:

    Indian economy is failing. Reports all over the world have confirmed this. But first the Indian mentality is not prepared to lose.
    They are a nationalistic country now and their economy has rapidly changed in just a few years. We have seen examples of this in Brazil , Ireland, and various other countries. And also to hate your own people just for having a different relegion is a huge blow tothis fake democracy.
    Things will get much worse and when they do get better it won't be as good as 2018

    Reply
  7. Adnan B
    Adnan B says:

    as per this interview spending is declining, which means people opt to savings even when interest rates are low.. which is opposite to economic nature, in service sector only few industries are doing well..isn't it?

    Reply
  8. siddesh siddesh
    siddesh siddesh says:

    I have an advice.
    Stop printing currency like crazy
    Currency and money are not same they are different
    Buy gold and silver from other countries as much as possible
    Give financial education for every student of the country from very young age.
    Nobody knows even the basic difference between money and currency it's pathetic.

    Reply
  9. king_has_no_cloths kul
    king_has_no_cloths kul says:

    india is just a one man-show. And he can only d so much! others have no clue. indias exports is poor for its mammoth size unlike china-who moved heaven and earth to capture electronic market. being near japan,taiwan, south-korea helped it immensely. prosperous HK also played its hand.
    india has none of it. only bright spot in india is software but it is bereft of any innovation. basically india does outsourced work and no original work of any significance in any field.
    this is very sad as country produces lot of engineers and docs. Unless india learns to invest massively in research and development, we will be at the mercy of west for our progress.
    all india do is buy products. indian consumers wants the best things and short-cut.
    china went through immense pain to make it happen.
    I see none of its kind in india.

    so the progress is extremely slow. you do find pockets of progress but not anywhere close to how chinese are doing. And how it is supposed to be.

    Unless every family in india invest in roads, sanitation, health,research in tech and development, it will take at least another 30 years to be anywhere close to what china is now.
    if you want to make something happen, you have to go on war footing. our culture and thinking prohibits us from doing so. there is always price to pay. but is it worth it?
    you must first handle resistance, stress and fight. all three takes a toll on your own life.

    nothing is easy in india. unless you bark,yell and scream nobody will listen and care. chances are that you will die sick trying to get anything done. And who wants that? people are thankful to get through the day alive. the traffic is a zoo. you can be a hit n run case any second. mosquitoes galore wherever you go in any part of the country. getting dengue is guaranteed. malaria is also in the offing. TB's are hovering around. This list goes on n on!

    massive population and lack of real estate means you have to fight like a dog to make it.
    mind-boggling bureaucracy( just like its spelling)

    life is a pure lottery.

    speaking of chinese, it is the only country which will have 50 tril gdp by 2030! why? they have 40 tril deposits!!! and may be another 5 tril shadow money and another 6 tril saved up money with gold.

    lot of people do not know the chinese civil war held them back. so they still have to make that up.

    if china eventually becomes democratic: taiwan+hk+macau all will get integrated.
    it might happen. with richness comes free thinking and also freedom!

    Also they continuously run trade surpluses–been averaging 350 bil for last 10 years. 200 bil before that!

    that is mind-boggling 50 tril of money in their pocket right now!
    so sooner or later it will come to the fore.

    soon trade will reach 3 tril to indias 500 bil. and imports will be pegged to 2.75 tril. it is illegal in china if imports>exports. they will go on national diet if that happens. unlike india which is other way around.

    Unless you build world class infrastructure and lucid policies it is impossible to attract companies. Also lot of things have to be dirt cheap( land+electricity+equipment) which is hard in india.
    brexit may help india as UK has not invested much in india. it is about time. they were pioneers in lot of things. if they want their glory back they have to invest in india.

    Indians knowing english will help. english is a business language and nobody cares about english like indians do. YOU OWN ENGLISH, YOU ARE THE BOSS!

    so for now it will borrows close to 1 tril in the next decade to at least build things properly.
    at least you hope: if you build they will come.

    Unless tax revenue touch 1 tril and export also touch 1 tril, we just do not have muscle to compete. so long way to go.
    jesus, i wrote a book here.

    Reply
  10. OHM-968692
    OHM-968692 says:

    By Indian standards this was a very civilised discussion. If all Indian channels had this much integrity, the people would be better informed and as a result vote for people who would actually fix this country. Keep it up

    Reply

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