Gujarat has seen a steep rise in investment flow in 2019, jumping by 47 times in one year, making up 85% of the country’s investment implementation. However, what is mysterious is that unemployment in the state has been on the rise amid slowdown in the global economy.
Finance Minister Nirmala Sitharaman should resign owning responsibility for the current state of economic affairs, former finance minister P Chidambaram said Wednesday. "She should resign," Chidambaram said when asked what would be his one suggestion to Nirmala to put the economy back on track.
Shekar Viswanathan, vice chairman and whole-time director of Toyota Kirloskar Motor, claimed that there is a drastic impact of economic slowdown in the automobile industry and the demand for new four-wheeler vehicles has declined.
Attacking the Modi government on the state of the economy, former prime minister Manmohan Singh on Wednesday said the current dispensation does not acknowledge the word "slowdown" and the real danger is that if problems are not recognised, then finding credible answers to take corrective action is unlikely.
The slowing economy and weakening consumer sentiment will continue to weigh on auto sales and the marginal improvement seen in December quarter, driven by festive discounts, is unlikely to sustain, a report said on Wednesday.
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