Gloomy Financial Scenario

We are very much perturbed to note the negative aspects in our financial scenario. The development ratio in the country is dipping alarmingly. Newspaper report suggests that the development in financial sectors is reduced by 5.8%. Of the big 18 industrial sectors, alarm bells have already sounded in 16. Even the vice-chairman of NITI Aayog Rajib Kumar conceded that in 70 years the country is passing through the toughest phase in financial sectors crisis. At a time, when the people of the entire country took our Prime Minister’s assurance on its face value about the progress registered by the country, it is really a bad omen for the entire country. What is more alarming is the sword of Damocles is hanging on those due to loss of jobs for lakhs of employees engaged in different industrial sectors. The list of such industries/organizations going through a tough phase – Air-India, BSNL, HAL, Postal department. The worst affected is the Auto Industry where myriad of employees are losing jobs, an estimated 12.76 lakh cars remain unsold in 30 major cities, the most profitable public sector ONGC starts incurring loss, 36 big guns who owe crore of rupees to banks disappear from the country, highest unemployment in 45 years, builders have a tough time as material cost-rise (GST at 18%-28%). So, the list is a long one. We still have not given up. We believe, the country can still be brought back to track.

Ashok Bordoloi,

Dibrugarh.

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