SOS: Do something about GDP, recession...

SOS: Do something about GDP and Recession

I was observing my friend YM even when Sudha and I were crossing him in the parking area during morning walk (5 35 to 6 00 a m) today. Though he responded to our "Good Morning" by the usual raising of both his hands, we could feel something was worrying him, all through. We don't probe, everyone has his/her own problems.
6 30 a m when I was reaching our gate on my way to collect milk, newspaper etc YM stopped me:
"Mr Warrier, Maruti is in trouble. They had to suspend production (I didn't tell him, I was not aware). Entire auto sector is facing problems...Why? You know... Industrial production has got affected...This GDP...It seems it's a global issue... Recession may come any time... Deauisch Bank...You know one of the biggest banks in the world... too has problems..."
15 minutes, YM has been talking to me, non-stop! Suddenly I interrupted to say, "I'll pick up some milk packets and come... We'll continue the discussion..."
Before I meet YM again, someone should find some solutions to all these GDP and recession issues.
Or, is it only the downtrend of Sensex that's worrying YM?

M G Warrier


Instead of the Government having their team of advisers seeking ways out to retrieve what has been lost, have their heads deeply buried like an ostrich and in an ever denial mood believing that if they ignore the problems they would by some miracle would vanish. The friend's worry about Maruthi is an indication that manufacturing sector had nose dived for want of demand and decelerating consumption. The Government should wake up reckoning that there has indeed been a lurking problem close to own door. Only when the problems are acknowledged, identified and prioritized they will find them landing in quagmire.
The bonanaza from the RBI is now beyond discussion as it was the wisdom of the Committee.
But one should be wondering when the Finance Minister has confessed that they have not yet decided the areas for using the money. The merger of Banks had been one of the recommendations by the Committee of Reforms. But it is no panacea and has been thought of at the wrong time.Many wonder why the RBI surplus should be handed over to the PSB when earlier such bail out proved in vain without any tangible results. When the GDP was flaunted as the faster Growth of the economy then should not the steep fall worry the right thinking person. S.Nallasivan

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