The IMF joined the RBI and global ratings agencies in trimming India’s GDP growth forecast by a drastic 90 basis points to 6.1 per cent for 2019 and by 20 basis points to 7 per cent for 2020. Most agencies now expect a revival in the ongoing second half. But given that most forecasts seem to go with the flow, its essential to watch incoming CSO data.
Poverty and science
Abhijit Banerjee, Esther Duflo and Michael Kramer won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (not the Nobel Prize for Economics) for their work scientifically breaking down the poverty problem into smaller, solvable units. Here’s our story on what they did.
Out of poverty
Amid the data wars over employment and GDP numbers, here’s one statistic the World Bank reaffirms – India has halved its poverty rate since the nineties. It however needs to do more on resource efficiency and female labour participation.
The robots have arrived
If you thought the threat to jobs from automation is some way away, here are some Indian businesses that have already been disrupted by robots!
Rural FMCG growth has undershot urban growth for the first time in 7 years in Q3 2019, says Nielsen. Rural FMCG demand grew 7.3 per cent in Q3. North India is bearing the brunt while the South is resilient.
India’s top three IT companies seem to be quite upbeat about growth, despite trade wars et al threatening global growth. They stepped up their hiring sharply by 59 per cent in Q3 compared to Q2.
Compiled by Aarati Krishnan