Election Blues
Business confidence takes a dip in the quarter before general elections as business leaders remain sceptical about fresh investments and job creation, finds the latest Business Today C fore Business Confidence Survey.
If economic growth is a yardstick, the current government is ending its term on a stronger wicket than its predecessor. Estimates released by the Central Statistics Office (CSO) in January pegged 2018/19 gross domestic product (GDP) growth at 7.2 per cent, higher than the 6.9 per cent rise in the last year (2013/14) of the previous government.
Yet, the micro indicators seem weak. Industrial growth has plunged to low single digits, the unemployment rate is reportedly at a 45 year high and slowing of the economy has forced the Reserve Bank of India (RBI) to cut the repo rate twice in recent months.
However, despite lower
