'Can't say if there is a recession in the country based only on films': View - AB TAK NEWS


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Saturday, 12 October 2019

'Can't say if there is a recession in the country based only on films': View

'Can't say if there is a recession in the country based only on films'

Union Minister Ravi Shankar Prasad, during a press conference in Mumbai, termed the NSSO (National Sample Survey Office) unemployment data completely wrong.

In response to a question related to the slowdown in the economy, he said that he considers the NSSO report to be wrong because many things have not been taken into consideration.

Law Minister Ravi Shankar Prasad said, "I call the NSSO report wrong and say with full responsibility. That report does not mention electronic manufacturing, IT sector, Mudra loan and common service center. Why haven't we ever? Did not say that we will give government job to everyone. We are still not saying this. Some people have misrepresented the data in a planned way. These may include have said in Delhi. "

Apart from this, he also ruled out a slowdown in the economy. For this, he said that if films are doing crores of business, then how is the recession in the country? He mentioned the earnings of three films released last week.

At the same time, according to the latest figures, industrial production has decreased by 1.1 percent. The decline is due to poor performance of manufacturing, electricity and mining sectors.

The National Sample Survey Office (NSSO), a department of the Ministry of Statistics, in a leaked report in February said that the unemployment rate in India has risen to 6.1 per cent, the highest in forty-five years.

Congress has reacted to the statement of Ravi Shankar Prasad. On its official Twitter account, the Congress has written that it is now necessary to ask ourselves whether our ministers believe what they are saying or is it just a part of the media circus of the BJP government? If it is a circus, are these people eligible to be made ministers?

In such a situation, BBC correspondent Kuldeep Mishra talked to economist Professor Arun Kumar about how to see the statement of Ravi Shankar Prasad. Read their perspective-

Whatever data the NSSO collects, they are collected through a special method. For NSSO employment data, door-to-door survey is conducted and data is collected on the basis of that. Not everyone can be taken in this, but a sample survey is made which can represent the entire population.

NSSO is an organization that collects such data all the time. It collects many types of data not only for employment.

If Ravi Shankar Prasad is officially saying that the NSSO figures are not correct, then he is questioning the NSSO and if he is questioning the NSSO, it means that he is questioning all his figures somewhere or the other. Huh.

It is a big deal that the government has what figures? On what basis is the government making a policy?

The second thing is that GDP is calculated based on the data of NSSO and other institutions. If only our figures are wrong then it means that GDP figures are also wrong. They have said such a thing which will have a far reaching effect.

The film is an entertainment tool. If the person is also in trouble then he spends money for entertainment. If we believe that 120-130 crores have been earned in the last week, then this is not an amount that cannot be spent in our large economy.

If there is talk of recession then these figures are coming out from the government and also from industries. Like in the automobile sector, in August this year, there was a decline of 30-31 percent compared to the previous year.

The FMCG sector is saying that their growth rate has reduced. In the same way, transporters are saying that the movement of our trucks has reduced.

Railways are saying that their freight movement has reduced due to this, affecting their profits. The decline in retail trade means that shopping has reduced.

If seen, it is not just a matter of one or two places, then we cannot say on the basis of films whether there is a recession in the country or not.

Apart from this, in the figure of industrial production, it has been shown that for the first time in the last two years, the growth rate is negative. It has fallen.

The government will say that everything is going well, but I think that a crisis is facing the economy at this time.

The government has taken several steps in the last one year to bring the economy back on track. The Reserve Bank reduced its interest rate for the fifth time and the government has given several discounts in the last two months.

This has come down despite the government's steps and it is because of this that our unorganized sector has fallen very badly in the last three years. But the government continues to deny him.

Now the problem has come from the unorganized sector also in the organized sector. As long as the crisis does not end with the unorganized sector, the organized sector cannot deal with it on its own.

The steps that the government has taken in the last two months are for the organized sector, so this is the pressure of the corporate sector on the government. I believe that the government has not taken the steps which should have been taken in the last three years.

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