The Government of India has already started the process of disinvestment in Air India which is having a debt of more than Rs 60,000/ crore. At this juncture a B 777 Plane is acquired at a cost of more than Rs 8000/ crore to fly the President of India, The Prime Minister and VVIPs only. Recently a new parliament building tender was sanctioned at a cost of more than Rs 800/ crore. Are these necessary at a time when the economy is shrinking and lakhs of jobs are lost and people are suffering?
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Many people lost their jobs and hence there is a lot of reduction in purchases. Again people getting engaged and earning. In another few days, we see some good changes and our economy may pick up. More jobs are expected due to new industries coming to India and that will give a big boost to our economy.
People have lost their jobs and are facing difficulty but that will end soon as India is a place where the population itself and our consumption capacity will pull it out of any economic slowdown. To cite an example in September alone luxury SUV KIA Seltos alone sold 18000 units and this is the highest monthly sales figure it had made ever since it launched in India. Also, the sentiments of the Banking sector are high as HDFC bank CEO recently said in a statement that the bank is extending new branches and the future seems bright. Pepsi recently announced that it will meet its target set for 2020 even though there was lockdown for 6 months.
Things are bright but not for the opposition which has attacked Government for everything which even they had no control over. No doubt we must also ask the Government questions to make it work to the best of its capacity but at the same time be alert of the hate that is spread by media and some people who are hell-bent to tarnish the image of this country and some states.
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Trade & Hotel -47%
I don't think the author is aware of ground realities of contraction in economy.
However, I have full trust in our government that they will recuperate our economy back on track and our status will be reinstated but it will take time.