Indian manufacturing did not add jobs as expected and left thousands of engineers without jobs after graduation.
Large manufacturing units went in for some automation and smaller ones employing are shutting down due to govt policies increasing the unemployment.
There is not much growth in manufacturing sector and agriculture is down because of drought and unpredictable weather.
Yet our stock markets are booming.
Lot of foreign money is getting pumped in.
10% of all money coming in is thru hawala channels and those engaged in round tripping.
Many are collecting govt incentives by over invoicing..
Ultimately it is the govt which is getting taken for a ride.
I have stopped believing in import ,export figures and GDP numbers.
Most of it is statistical jugglery. Changing base year or using manipulated numbers for calculations.
Large manufacturing units went in for some automation and smaller ones employing are shutting down due to govt policies increasing the unemployment.
There is not much growth in manufacturing sector and agriculture is down because of drought and unpredictable weather.
Yet our stock markets are booming.
Lot of foreign money is getting pumped in.
10% of all money coming in is thru hawala channels and those engaged in round tripping.
Many are collecting govt incentives by over invoicing..
Ultimately it is the govt which is getting taken for a ride.
I have stopped believing in import ,export figures and GDP numbers.
Most of it is statistical jugglery. Changing base year or using manipulated numbers for calculations.