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ET Daily Rundown (ET Online)

Vodafone boss' ultimatum to the government & more

02:34 Min | November 12, 2019, 6:28 PM IST
While the Centre has a few points to mull over, coming from the SBI, credit crunch and Bloomberg Economics, stay tuned to ET's Daily Rundown for more updates!
Transcript
Hosts: Kshitij Bhargava, Deepshikha Rahi
Producer: Deepshikha Rahi

TRANSCRIPT:

Either you take your boots off the neck of the industry and let it
better compete with Mukesh Ambani....

That is what Vodafoné's Nick Read had to say on his firm's future in India.

Sounds more like an ultimatum?


I'm Kshitij Bhargava and I'm Deepshikha Rahi and today's daily rundown has a few
points for the Centre the ponder....let's begin..


Well the first point comes from India's biggest public sector bank
(Pause), the SBI.

In its report, it sees India growing by just 4.2% in the second quarter


The bank attributes the number to low automobile sales, deceleration
in air traffic movements, flattening of core sector growth and
declining investment in construction and infrastructure.

Alarming yes, but it says there a silver lining.

The bank expects growth rate to pick up pace in FY21 to 6.2 per cent
and some revisions to the GDP data as in the past, but that is likely
in February 2020 as is the custom.


The second point comes from credit SOOISE
Continuing credit crunch with loan growth dropping to demonetisation
lows of 6 per cent in the July-September quarter is expected to
prolong recovery of economic activity in the country, it said in a
report.

The report said that in the July-September quarter, loan growth in
India has dropped to demonetisation lows of 6 per cent, as the NBFC
lending has pulled back and there is a slowdown also in bank lending,
about 8%.

The third one from a report by Bloomberg Economics that says no one
nation, not even India, was able to reproduce the kind of success
China enjoyed in transforming its economy.

So mini Chinas are drawing blank

That's right and blank is the state in Maharashtra now. The Shiv Sena
has moved the Supreme Court seeking a hearing against the Maharashtra
Governor's decision not allocating three days to get letters of
support from NCP & Congress to stake claim on formation of the
government.

The apex court registry is yet to get a nod from the CJI on listing the matter.

Shiv Sena has said that the Governor has acted in a high handed manner
and denied extra time for government formation.

They say they have a point but will it be the turning point for the
game that's being played in Mahrashtra. Track our special liveblog on
the Maha drama being played out and more on the economictimes.com

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Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service