Wednesday May 23, 2018
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Modi takes stock of global economic turmoil with industry, economists

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By NewsGram staff writer

New Delhi: As the global economy looks down the barrel of another impending slowdown, Indian Prime Minister Narendra Modi on Tuesday met union ministers, corporate heads and economists to discuss the turmoil in the global markets. The latest global turbulence has been sparked off by the Chinese economic slowdown and Modi has sought to discuss attendant opportunities for India.

325789-jaitley
Arun Jaitley

Among the ministers that were present at the meeting included Arun Jaitley (Finance) Suresh Prabhu (Railways), Nitin Gadkari (Road transport and Shipping), Nirmala Sitharaman (Commerce), Dharmendra Pradhan (Petroleum) and Piyush Goyal (Coal, Power and Renewable Energy).

RBI Governor Raghuram Rajan, Niti Aayog Vice Chairman Arvind Panagariya, Chief Economic Advisor Arvind Subramanian and Aayog member Bibek Debroy also attended the meeting on ‘Recent Global Events: Opportunities for India’.
Top officials at the meeting included Economic Affairs Secretary Shaktikanta Das, Financial Services Secretary Anjuly Chhib Duggal, Commerce Secretary Rita Teaotia and Industry Secretary Amitabh Kant.

Eight economists, 14 industry representatives and four major financial institutions, including State Bank of India

Chanda Kochar
Chanda Kochar

chief Arundhati Bhattacharya, ICICI Bank’s Chanda Kochar, IDFC’s Rajiv Lall and the CEO of the recently- launched Bandhan Bank Chandra Shekhar Ghosh were also present.
Apart from the heads of industry chambers, top industrialists such as Reliance Industries’ Mukesh Ambani, Aditya Birla Group head Kumar Mangalam Birla, Adani group chairman Gautam Adani, Tata group chief Cyrus Mistry, Wipro boss Azim Premji, Sun Pharma CMD Dilip Sanghvi, ITC’s YC Deveshwar and IL&FS chairman Ravi Parthasarathy also attended.
Public sector enterprises were represented by heavy equipment maker BHEL managing director B Prasada Rao and

BC Tripathi
BC Tripathi

gas utility GAIL chairman BC Tripathi.
Aditya Birla group chief economist Ajit Ranade, JP Morgan chief economist Jahangir Aziz and Morgan Stanley’s emerging markets head Ruchir Sharma were among the economists and market experts who attended the meeting.

(With inputs from IANS)

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Survey Reports That Significant Number of People Rate Performance of Modi Government as Below Expectations

According to the poll, around 32 per cent respondents feel that crime against women and children have reduced in the last four years while 58 per cent feel otherwise.

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According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.
On the state of the economy, 54 per cent respondents believe that the unemployment rate hasn't reduced in the last four years, while 35 per cent think otherwise., wikimedia commons

The Modi government hasnt scored too well on farmers issues, jobs and prices of essential commodities at the end of its four years in power, according to an online survey that also found a substantial number of people calling its performance “below expectations”.

The survey done by LocalCircles, a community social media platform, says that 43 per cent of those who participated in the poll rated the government as performing below expectations, 29 per cent rated it as meeting them and 28 per cent said the government was “exceeding expectations.

“Most performance parameters (of the government) show a decline over time as the gap between expectations set and impact on daily life rises,” according to the survey done with over 62,000 citizens from over 250 districts across the country. Thirty-five per cent respondents were females.

According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.

The respondents have rated the government low on reducing crime against women and children, generating employment, improving farmers life, lowering cost of living and healthcare, the survey says.

However, it has scored well on improving India’s image globally, handling of Pakistan, fighting terrorism, infrastructure development and reducing tax harassment.

According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.
43% say performance of Modi govt. is below expectations, IANS

“Around 60 per cent citizens said price of essential commodities and cost of living have not reduced. Only 33 per cent believe that the price of essential commodities have come down in the last four years.”

According to the poll, around 32 per cent respondents feel that crime against women and children have reduced in the last four years while 58 per cent feel otherwise.

In the area of healthcare, only 32 per cent respondents believe that facilities and services have improved in the last four years whereas 62 per cent say no it has not.

On the state of the economy, 54 per cent respondents believe that the unemployment rate hasn’t reduced in the last four years, while 35 per cent think otherwise.

Around 46 per cent respondents believe that doing business in India was now easier while 39 per cent say it is not the case.

The respondents were asked if sufficient new infrastructure development — roads, power, irrigation, broadband — had taken place in the last four years.

“Approximately 65 per cent said yes while 29 per cent said no.”

Around 49 per cent respondents believe that corruption in India has reduced in the last four years while 44 per cent believe it has not reduced.

Asked if they felt India’s image had improved, 82 per cent said yes while 13 per cent said no.

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Respondents were also asked if they approved the way Indian Government had handled the perpetual conflict on the borders and relations with Pakistan in the last four years.

“Around 74 per cent felt it has improved strongly while 24 per cent felt that government’s tactics are not right.”

People were asked if they believed that terrorism and acts of terror against Indians have reduced in the last few years. Around 61 per cent respondents said yes while 35 per cent disagreed.

On the issues of communalism, 50 per cent felt that the government it well in the last few years while 45 per cent no. (IANS)