Economic slowdown badly felt in the auto sector

08 Sep 2019 07:21 PM

Economic slowdown badly felt in the auto sector

Updated 08 Sep 2019 07:21 PM

The economic slowdown has been badly felt in the auto sector, which as of last month reportedly saw evaporation of around 2.30 lakh jobs.

So much so that Minister of State for Finance Anurag Thakur was recently heckled at the annual meet of the Automotive Component Manufacturers Association (ACMA) of India. Jasbir Singh of GS Auto, Ludhiana, interrupted Thakur saying, "This is the delayed effect of demonetisation. People don't have money!"

Though the government is hopeful of economy "coming back on track", as Union Minister Prakash Javadekar said on Sunday, but the completion of 100 days of Modi 2.0 could have been grander had the economy been bullish.

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