The economy of India is showing nothing but signs that can make any economist worried. The financial health of the country is on a slump as the GDP (Gross Domestic Product) is declined drastically standing on the seventh position among the largest economy of the world. The GDP of India currently is about $ 2.72 trillion in comparison to the U.K, which has $ 2.82 trillion, and France having $ 2.77 trillion. The topmost economies in the world include the U.S with $2o.5 trillion, China $13.6 trillion, Japan $ 4.9 trillion, and Germany with $ 3.9 trillion.
This data comes up when the finance minister of India in her budget speech announced the target of achieving $ 5 trillion economy by the year 2024 and achieve $ 3 trillion in the current fiscal year. But the current economic scenario is completely the opposite of the ministry’s claim, and it is a scary one. Slow down has gripped the economy of India in its clutches, which is affecting all its sectors and bringing their growth to a grinding halt. India lost its fastest-growing economy earlier this year, and now it is lagging far behind China. The economy of the country grew at a disappointingly slowest rate of 5.8% during the January-March quarter financial year 2018-19. The growth rate had already reduced to 6.8% from 7.2% a year ago.
These economic figures are quite scary, and it is already showing a negative impact on the industries. Several sectors, including the automobile industry, is taking the hit of it. Sales have gone down drastically, and many companies are laying off its employees and contract laborers due to the drop in demand of the cars. Ripple effect is even felt in the spare part and other components makers who manufacture them. As orders are drying up, they are either reducing the workforce or decreasing the number of days of work.
The exports of India has also gone down extremely down and are showing no signs of revival. Many experts believe that demonetization that took place in 2016, which was applied by NDA government 1.0 broke the backbone of the industrial sector, particularly the small and medium scale industries. Moreover, the rigid GST taxation system is leaving no breathing space for the enterprises to grow and make some profit. Things are going so badly that one of the leading biscuit maker Parle Products Pvt Ltd, is planning to lay off about 10,000 workers due to the slowdown of the economic growth and fall in demand in the rural heartland. As the demand is going down the company has decided to slash its production, which can result in cutting down the workforce. The company management is even stating that if the government does not intervene immediately, it might cut down 8,000 to 10,000 people permanently. Parle is not the sole company that is showing red flags, but its competitor like Britannia is also going through a similar plight.
The slowdown has already cost job losses in the automotive sector, and a similar issue is now even in other sectors as well. As India’s consumer goods industry is also losing steam and spending power of the common people is drying up due to the economic recession and loss of jobs, its negative impact can be felt in adverse ways. The government has to take some concrete steps in order to restrain the economic slowdown and to pump life back in the industries. Until and unless some drastic measures are not taken by the government to save the falling economy of the country, the situation in the coming days might worsen even more, and financial health of the nation may spiral out of control.
Public Sector Market Research Reports
A tiny microscopic virus has precipitated a crisis of such unimaginably large magnitude that it has affected almost every aspect of our lives – health, travel, social interactions, work, and business.
The effect of this crisis is sure to be particularly long-lasting in the business sector where experts say that the reverberations might be felt for months or maybe even years.
Federal Emergency Management Agency (FEMA) has released a research report on disaster preparedness which says that 40 % to 60% of small businesses affected by a disaster never re-open!
Documents are critical assets that are of immense value to any organization and losing them or not having access to them during a crisis can bring business operations to a grinding halt.
Paper-based physical document management systems are more likely to put your business at such a risk.
A professionally managed digital document management system, on the other hand, makes it easier for you to recover from the crisis.
Businesses are vulnerable to risks.
Risks are dependent upon the exposure that a business has, the underlying business environment, and the conditions under which it operates.For example, businesses today run on computers that are interconnected through a network and have specialized software for managing diverse functions as well as day-to-day activities.
A cyber attack on your systems caused by a data breach is a risk that can devastate your business in a matter of minutes without as much as causing any physical damage to your premises, or assets.Is your business in Alberta covered from cyber attacks?
If you are a business owner in Alberta, cyber liability insurance is recommended to protect your business from cyber attacks, especially if your business runs on the internet and you store personal and commercial data of your customers.A cyber attack can disable your computer systems, get access to your data and then acquire administrator privileges.
You can become a victim of malware, phishing, denial of service attacks and if you are not protected, then your business will come to a grinding halt.Protect your business with Alberta cyber liability insuranceTo prevent your business coming to a standstill, it is recommended that you purchase Alberta cyber liability insurance.
If you are covered, then in the event that a data breach occurs, you would be able to bear the expenses related to investigations as per your policy coverage.Also, if your source of income is through the internet, for example you run an e-Commerce website, and if there is a cyber attack of a ‘denial of service’ type, and your website is down for several days leading to loss of revenue; then in that case an Alberta cyber liability insurance policy will reimburse you for your business interruption losses.Buy an insurance cover before a cyber attackAs a cyber attack can occur at any time, it is advisable to purchase an Alberta cyber liability insurance policy in advance.
Your horoscope or Janam-Kundli is divided into 12 rectangular-shaped parts that signify the different aspects of your life.
This signifies that if your lord and the ruling planet is strong, you will be abundantly blessed in the specific aspect it controls.
Let us learn which house controls what:1st House:The first house is the reflection of one true self and how you are as a person and what you will be going to be.
It signifies your nature, personality, and character.
If this house is strong, then you will be receiving better income and will not have any financial problems.
It also controls your communication aspect, which means if you will be having healthy communication with your parents or siblings or rest of the family.
