The travails of the automotive industry have got all the coverage (The Telegraph, above), but various sectors of the Indian economy are in deep slump, as Narendra Modi bloviates about making India a $5 trillion economy.
(How many zeroes in a trillion? 12, actually.)
Eight key core sectors of the economy–including electricity, natural gas and petroleum refinery products–have had their lowest growth in 50 months, according to official data (Deccan Herald, above).
In just the last two days two industry bodies, of tea and cotton (above), have bravely issued advertisements announcing the huge job losses that are on the anvil.
Britannia CEO Varun Berry‘s quote that consumers were hesitating to buy a Rs 5 biscuit packet hits the nail on the head. But the big picture is even more revealing of the state of the economy under the much-vaunted “Gujarat Model”.
Here are 30 screenshots from the last 15 days of The Economic Times, each headline providing a peek of the oncoming truck.
Only three companies show what might even be considered positive signs:
As Kashmir provides the distraction, West Bengal finance minister Amit Mitra is the outlier.