To fix slowdown, first identify the ailment

So far in 2019, RBI has reduced the repo rate by 135 basis points. Though banks have not matched this, the pace of cuts has picked up in the last few months. But this does not seem to have helped much as reflected by the SIDBI-CIBIL numbers. The moderation in lending seems to reflect not only a hesitation to supply credit by bankers, who are already caught up in a storm over poor lending decisions from the past, but also significant weakness in demand. No firm invests in future production if buyers are absent from the market. A recent NSSO survey showed that compared to 2014-15, demand slowed down in 2017-18. The survey, not yet officially released, showed average consumption expenditure fell from `1,587 per person per month in 2014-15 to `1,524 in 2017-18 in rural areas, and from `2,926 to `2,909 in the same period in urban areas. Many economists have noted that the demand crisis does not stem merely from shadow lenders going bust, but from deep-rooted reasons-including jobs lost due to demonetisation and the global slowdown. At the same time India's obsession with keeping farm prices down to woo the urban populace has led to the larger crisis of huge losses run up by farmers. A remedy can be planned only when there is a proper diagnosis, something that former PM Manmohan Singh too pointed out recently. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The New Indian Expresshttps://www.coalindia.in/ActivityFeed/MyProfile/tabid/64/UserId/446554/language/en-US/Default.aspx

https://thefastdiet.co.uk/forums/users/zinosbesns/ DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Telegraphhttp://www.tripntale.com/profile/181534

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