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Moody's Investors Service predicts India to have declined growth rate of 5.8 % in fiscal year 2019-20

Recently Moody’s investor's services predicted that India will have growth rate at 5.8% during the fiscal year that began in April. Earlier in August, the company had forecast the growth rate that stood at 6.2 %. According to a media report, India’s growth fell to a six-year low of 5% in the April-June quarter due to weak consumer demand of products and services, prompting the central bank to cut its 2019-20 growth forecast to 6.1% last week from 6.9%. The global rating agency said, ” Compared with only two years ago, the probability of sustained real GDP growth at or above 8% has significantly diminished”. It further added, “A prolonged period of slower nominal GDP growth not only constrains the scope for fiscal consolidation but also keeps the government debt burden higher for longer compared” Do you think govt should take major step to boost the economy? comment below Src:https://reut.rs/2OBrZqB

Great/Sad

That's Great

37 votes

That's Sad

128 votes

Commerce Minister Piyush Goyal summons Flipkart and Amazon over alleged FDI abuse

Recently the commerce Minister Piyush Goyal has asked Department for Promotion of Industry and Internal Trade (DPIIT) to summon Flipkart and Amazon over allegations of abusing the FDI policy. According to Confederation of All India Traders (CAIT) delegation, the e-commerce marketplaces are practising predatory pricing, deep discounting, loss funding and exclusivity of various products which is not allowed under FDI Policy. CAIT met Piyush Goyal and Goyal assured them that the govt will not allow predatory pricing or deep discounting under any circumstances. Do you think govt should restrict e-commerce platform from giving deep discounting? Src: https://bit.ly/324AFda

Do you stand with @PiyushGoyal

I stand with @PiyushGoyal

59 votes

I don’t

167 votes

Ex promoter of Ranbaxy Shivinder Singh arrested by Delhi Police

Delhi Police’s Economic Offences Wing (EOW) has arrested former promoter of Ranbaxy pharmaceuticals Shivinder Singh. Religare Finvest(RFL) had lodged a criminal complaint against promoters Malvinder Mohan Singh and Shivinder Mohan Singh with the Economic Offences Wing of the Delhi Police for frauding 740 crores. RFL released a statement in which they said, “The complaint was filed basis internal inquiries (including an independent forensic review) undertaken by the new RFL board and management,” Src:https://bit.ly/2VAI815

Do you stand with @ShivinderSingh

I stand with @ShivinderSingh

49 votes

I don’t

127 votes

IRCTC Indian Railways: 150 Trains, 50 Railway Stations will soon be privatised

The Narendra Modi-led govt has initiated the process of privatising operations of 150 trains and 50 railway stations and is forming a task force to complete the process in a time-bound manner. Niti Aayog chief Amitabh Kant, in a letter to Railway Board chairman Vinod Kumar Yadav, expressed, "As you are already aware that the ministry of railways has also decided to bring in private train operators for passenger train operations and is contemplating to take up 150 trains in the first phase". As per media reports, the empowered group will consist of Secretary, Department of Economic Affairs and Secretary, Ministry of Housing and Urban Affairs. Src: https://bit.ly/2ouuCA1

Do you stand with @IRCTC

I stand with @IRCTC

50 votes

I don’t

151 votes