Sick industries?? Who cares!

IIPM PUBLICATION

Summarily, the entire output of the economy is certainly going to affect everybody in a nutshell. In the past 2 years, since 2004, the inflation rate has increased from 3% to over 6%, raising the prices of almost everything. The reason given for this has been the increase in input cost in most of the manufacturing products.

While cutting down the existing heavy import duty on cement, steel and edible oil could have been feasible alternatives for the government, it has chosen a path that might hurt the economy in the long run for which they seem to care the least. The increased rates have shot up the returns on the fixed deposits for the politically sensitive middle class (the banks were quick to announce the higher returns), but for those that have availed loans on ‘floating rates’, sufferings might just have begun. Manmohan Singh isn’t a fool to not understand this, but he definitely has ‘political’ compulsions.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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