Skip to main content

GDP Contraction , An act of God?

 


On 31 August 2020 , The data released by National Statistical office (NSO) of India's GDP for Q1 i.e. April-June is slipped or contracted by 23.9% . This contraction is the worst in the history of India after Independence. However , Godi Media which is completely busy in giving judgement to Sushant Singh Rajput case won't pay a heed regarding this failure of Government. For some adorers it can be a masterstroke too but i don't wanna interfere in their thinking and their blind faith. 

                       Source - BusinessToday.in

On 27 August , Financial Minister of India , Nirmala Sitharaman said , Covid-19 is an 'act of God' and it could lead to the contraction of economy. The centre gave two options to states after GST council meeting in which state governments were asked to borrow thousands and lakhs of crore from RBI due to GST revenue gap of 3 lakh crore this  year. However GST compensation Act 2017 guaranteed states compensation for any loss of revenue in the first five years of GST implementation making this law false and made the states 'Atamnirbhar' . 

WHY IS GDP SO IMPORTANT FOR A COUNTRY ?

Gross Domestic Product(GDP) of any country defines the status of ongoing condition of economy . It gives statistical information about the size of economy and how economy is really performing. A downfall in GDP rate suggest the contraction of economy. The major factor for economic contraction is drop in real personal income , retail sales and industrial production. 

EFFECTS OF ECONOMIC CONTRACTION

The major impact of economic contraction is unemployment. Companies stop hiring to save money due to low demand of products. Businesses cut spending , then lay off workers . People save their money due to which the demand and supply chain in the market decreases . Businesses of small and medium classes have to be closed , due to which the unemployment phase is on the threshold.   People have to choose the wrong path to make their living , due to which the level of crime in the country increases rapidly. 

Even after all these failures , some shameless governments claim that they are giving 1 crore jobs every year which are left as slogans. However , unemployment does not matter to the devotee group. They always stand in front of their masters to defend them from truth. Godi media also play vital role in defending Government. 

If economic contraction is an act of god than whom will Finance minister blame for her failure before march 2020? 

INDIAN GDP BEFORE MARCH 2020

Q2 2018-19      7.1%

Q3 2018-19       6.6%

Q4 2018-19       5.8%

Q1 2019-20       5.0%

Q2 2019-20        4.5%

Q3 2019-20        4.7%

Q4 2019-20        3.1%

Is this also an act of God? Whenever you talk about God , I am reminded of the 11th incarnation of Vishnu. You must have understood whom i am talking about.  If any bureaucratic person puts his mistakes on God , then understand that the country is on the path of progress where there is only sorrow and suffering. Have your forgotten the $ 5 trillion economy? This was not a jumla either ,  was it? Or will India depend on God alone? 

BY Abhishek kumar


Labels:

Comments

Post a Comment

No Spam Comments

Popular posts from this blog

The Importance of Moral Values in our Life

  The Importance of Moral Values in our Life How can one be well...when one suffers morally?"  Leo Tolstoy, War and Peace Holistic development of an individual is incomplete if moral values are neglected. Moral values are important because they allow you to have an overall feeling of peace and joy. Moral values can give meaning and purpose to your life. You are able to direct your behavior towards beneficial and fulfilling activities. Experts do believe that lack of moral value is the major cause of unrest and deteriorating condition of India. Restlessness among youth is the major cause of crime. Openness, easy access to unwanted elements and lack of self control are becoming bad components of our society. Youth must be directed and shown the right path. Education must focus on the all round development of a child because moral values help in making complete human beings not just individuals. prepares them for their future role. If analysed properly, lack of moral value is the roo
Post a Comment
Read more

National Education policy (NEP)

New Education Policy,2020 Recently, the Union Cabinet has approved the new National Education Policy (NEP) , 2020 with an aim to introduce several changes in the Indian education system - from the school to college level. The NEP 2020 aims at making “India a global knowledge superpower”. The Cabinet has also approved the renaming of the Ministry of Human Resource Development to the Ministry of Education. The NEP cleared by the Cabinet is only the third major revamp of the framework of education in India since independence.  The two earlier education policies were brought in 1968 and 1986.        The current 10+2 system to be replaced by a new 5+3+3+4 curricular structure corresponding to ages 3-8, 8-11, 11-14, and 14-18 years respectively. It will bring the uncovered age group of 3-6 years under school curriculum, which has been recognized globally as the crucial stage for development of mental faculties of a child. It will also have 12 years of schooling with three years of Anganwadi/
2 comments
Read more

Junko Furuta , The victim of cruelty

No matter how much it is in the world ,it is a story of full demeanor,cruelty,which seems to be false but it's true.. The story begins here with a Japanese girl, name Junko Furuta who celebrated her 17th birthday 3 days ago . She was born on 22Nov.,1972 and the story begins on 25Nov. 1989 , just after 3 days of her 17th birthday. She used to study at Yashio Minami High School.She started doing a part time job in an electronic shop. In her school,a boy named Miano had crush on junko,but the problem with Miano is that he was a member of the infamous YAKUZA gang.He proposed Junko several times and got rejected everytime. This thing seated on Miano's heart and he decided to take revenge from Junko. 25th Nov. Junko left the school and started working in that electronic shop. At around 8:30 pm. she left the electronic shop and started moving towards her house. Same night Miano with his five friends started following Junko.They made a plan. Miano's one friend ran and kicked Junko&
Post a Comment
Read more