29th August 2019
Musings....... I have been largely avoiding shaping my articles with political undertones since the General Elections.This is not for want of content or material but out of exercised restraint. Contrary to expectations,the Indian economy is showing signs of recession. Textbook definition of recession is slowing down of growth rate in 2 consecutive months compared to the same months the previous year,which has been the case this April-May period according to official statistics. We are officially under recession and the reasons for the same are varied. The domestic reasons include a weak structural policy and badly thought out budget on top of a lack of demand and absent liquidity in the market. Internationally, there is an ongoing trade war between the US and China in which both countries have put taxes on their respective imports. When major economies of the world resort to irresponsible trade wars the developing countries like India suffers. China has devalued its currency ...