Parliament has been summoned to meet on November 26, 2015. The state of the economy requires more than a summons to the Members of Parliament. Contrary to what the Government’s ministers may say in public — and more in line with what some ministers, many officials and practically all businesspersons and bankers say in private — the economy is in poor shape. The tell-tale sign is the flat growth rate: 7.3 per cent in 2014-15, 7.0 per cent in Q1 of 2015-16, and the forecast of 7.3 per cent for the whole of 2015-16. Disappointing Indicators Let’s look at the usual indicators: Q2 (June to September) 2015 was the third successive quarter in which net sales of all firms shrunk by 5.3 per cent over...
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