Best of BS Opinion: Investments need help as economy loses momentum

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Data released on Monday showed that industrial output in September contracted by 4.3 per cent, largely due to poor performance in the manufacturing sector. The Indian economy is losing momentum, but is the government taking the right steps to revive economic activity? Will the proposed alternative investment fund help revive the real estate sector? Here’s a collection of Business Standard Opinion pieces of the day.

Economist Shreekant Sambrani notes that Prime Minister Modi only speaks of the $ 5 trillion economy, and not the measures needed to get there. He may have turned to domain experts in foreign policy, but has been his own chief economic adviser all along. Read here

Throughout the economy, a clean-up process that would require the loss of equity by promoters and haircuts for lenders has been postponed, and so investment and growth has not returned to natural levels, writes Mihir Sharma. Read here

It seems to be clear that while employment as defined by principal status has increased, there was a massive fall in employment as defined by the subsidiary status between 2011-12 and 2017-18, writes Mahesh Vyas. Read here

TN Seshan passed away in Chennai on Sunday. In a tribute to his contribution, our lead editorial notes, hopefully, future commissioners will be able to summon some of Seshan’s indomitable spirit and maintain the Election Commission’s proud history of fighting for electoral fairness. Read here

 

Quote of the day
 
"Unlike today, there was a time when our Election Commissioners were impartial, respected, brave and feared. Shri T N Seshan was one of them.”

 
------- Former Congress President Rahul Gandhi