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The CEO’s Reading List: Oct 19, 2019

| Updated on October 19, 2019 Published on October 19, 2019

Missed all the key developments on the economy this week because you were jetting around the country? Here’s a curated reading list of BL’s most important stories on the economy from the week ended October 19, 2019.

Cutting spree

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. 

IMF cuts India's growth forecast to 6.1 per cent

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.

India-born MIT prof shares economics Nobel

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.

India halved its poverty rate since 1990s: World Bank

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!

India’s employment challenge may worsen as robots snatch away jobs

Rural rout

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. 

FMCG performance in rural India worst in 7 years: Nielsen

Hiring surge

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.

Hiring by Big Three IT firms up 59% in Q2

 

Compiled by Aarati Krishnan

Published on October 19, 2019
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