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HomeArticlesEditorialsNo respite to Industry Slowdown yet
Thursday, 01 March 2018 12:59

No respite to Industry Slowdown yet

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For the last two months, we have been focusing on national economy which is going haywire. The stock index is fluctuating between 33 thousand and 36 thousand and above, for the last two months, giving real jolt to the economic situation. 

GST network issues are yet to be resolved, industrial production has come down to the lowest of the last five years and post budget sentiment has not improved, particularly after the budget announcement of levying tax on long term capital gains. The news of Nirav Modi scam of 12600 crore  and then the scam of Choksey and Kothari Rototech further subdued the market sentiment making the masses worry for their money lying in the banks. These banking scams have brought down the credibility of National banks and questioned the RBI policies. Even the Government’s efficiency in checking corruption is under suspect.

It is very sad to see news channels, even from reputed media houses carrying out frivolous debates of shifting blame for the scams on the two major political parties. Most of the channels are trying to tow the line of the government, blaming the Congress Party. No one is debating how many such scams will come out further and what will be the impact on the common man.

As the next general elections (2019) are coming closer, the government has become more election centric than development (Vikas) centric. All ministers are making election oriented speeches while the nation is facing the brunt of the economy.  MIB does not talk about Digitisation any more, although it knows millions of households are still without a digital signal. Court cases challenging the regulations are lingering on for years and chaos prevails on the ground. Case in The Madras HC is in limbo as there is no consensus between the two judges in the bench. 

A small incident of a reality TV kids programme judge and mentor giving an affectionate peck on the cheek of a girl contestant while celebrating Holi has become a National Debate. MIB never likes to monitor if the TV channels are abiding by the regulations and the guidelines unless something like this comes to the fore. 

Our PM is very enthusiastic about Artificial Intelligence and calls it a tool to fight poverty and disabilities, How far can we practically do it is anybody‘s guess, knowing that our country lags far behind when implementing new technologies. In telecom, still the highest number of mobile connections is on 2G and 512 kbps is our broadband standard. 

This month we shall be attending Convergence India 2018, industry’s biggest exhibition and conference in the country. I hope all of you have made arrangement to come to the Capital for a networking during the event and gain knowledge of the latest development in technologies and business practices to make your business become better.

—— Lt. Col. (Retd.) K K Sharma


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