4 ms·
I wouldn't take the statements about credibility at their face value. AFAIK it didn't seem like RBI's credibility got affected. Also, as other poster cited, mos
by harigov 9y ago
I wouldn't take the statements about credibility at their face value. AFAIK it didn't seem like RBI's credibility got affected. Also, as other poster cited, most of those seem to be the opposition and they are just "concerns" rather than "facts".
With respect to poor losing jobs, that seems like a play around statistics more so than actual facts. 1.5 million out of 406.5 million lost jobs, which equals to 0.36%. Employment usually goes in cycles so we don't know how this relates to the previous year. Given that April is the end of financial year, could it be the case that people usually get fired during that time? I don't know.
I have no meat in this game. I would consider myself as an observer interested in knowing how it worked out. This whole debate is very polarised and it is hard to separate fact from fiction. I would take everything with a grain of salt. As an Indian growing up in the hopes of seeing a developed country, I was hopeful that this could actually be the catalyst that roots out corruption. Unfortunately, that doesn't seem to be the case. Well, we keep dreaming on...
- statguy 9y agoYou may debate about job losses, but all of the aggregate effects have been captured by the GDP growth rate which has dipped to 5.7% compared to 7.9% the same quarter last year.
- virtuabhi 9y agoThis is mostly due to GST impl. in July. Manufacturing had stopped and warehouses were no longer being filled from March onwards in anticipation of GST.