For the last few months, there has been a consistent pushing of narrative from certain section that argues that India’s economy is heading towards a disaster. Such doomsday predictions put everybody on panic mode, though it is nobody’s case to argue that everything is fine with the economy. The government itself has taken a series of measures to boost economy, a historic rate cut in corporate tax among them.
It seems that many who alarmingly talking about ‘economy in ruins’ on social media and other platforms are focusing on only certain sectors such as automobiles. We have explained earlier that the slowdown in the automobile sector is evidently a worldwide phenomenon due to technological overhaul. Also, we have explained earlier how there was a false alarm in the instances like Parle-G claiming huge job loss in the market.
Now, look at those instances which are not quoted by people who are predicting doomsday for the economy.
If you believe the critics, they might convince you that people don’t have money to spend. But the headline such as this tells you that situation is not quite like that.
Some reports also suggest that the fear of job loss and shrinking market place may be true for only some sectors. On the other hand, other spheres like technology and innovation-based market place is actually increasing. News related to growth of Start Up eco-system suggest that there is a market demand for a variety roles and skills in the technology market.
So, next time you find anyone proposing doomsday theories on the Indian economy, you may want to point them to these news items.