Money is needed in the hands of people to sustain demand: Harsh Singhania

India Inc is passing on the benefits of tax cuts to consumers

After a decade of relative calm since the 2008 Great Recession, global economy is again engulfed in a serious downturn. The distressing signals that faced the world before the crisis unfolded in the autumn of 2008 are visible again. Global growth is pegged below 3 per cent, slowest since the crisis, with all major economies experiencing deep slowdown. 

From upswing to slowdown

Two years ago, 3 out of 4 economies experienced growth acceleration, however now only one out of 10 countries would experience growth upsurge. The slowdown is not just limited to advanced economies, but has spread to major emerging economies of