Remember, Remember. The 8th of November!

Abhishek Sachdeva
Nov 8 · 3 min read

What do you do if you are a citizen of a country that has impeccable resources and a vast talent?

1. If you run a business, you stop your operations every month to meet the Tax and Legal compliance.

2. If you are in Job, you overwork constantly (even on weekends) with a continuous fear that you might be part of the next mass layoff.

3. If you are a Legal Professional, you stay in the constant fear of Government taking some retrospective change in Law. And not to forget, figure out a way to fill out the GST Annual Return of your clients (GSTR9), which no one understands fully till date.

4. If you do not fall in any of the above, you get to witness the clashes between Law (Lawyers) and Order (Police) in the Capital of the country.


India woke up on the morning of 8th November 2019 with the headline stating that on November 7, 2019 Moody’s Investors Service had changed the outlook on Government of India’s Ratings. It went from “Stable” to “Negative” on concerns that country’s economic growth will remain materially lower than it was in the past. It affirmed India’s local-currency senior unsecured rating of Baa2 and short-term local-currency rating of its P2. Baa2 is the second lowest Investment grade score. Few days ago, Fitch Solutions raised India’s Fiscal Deficit forecast to 3.6% of GDP.

In response, A Press release by The Finance Ministry assured that the Fundamentals of the Economy remain robust and the government has taken a series of reforms to strengthen the Economy.

Indian Households, in terms of Per Capita Income, are among one of the lowest in Emerging Markets. Further Cash Crunch and fewer Job Creation including the recent Layoffs would have a negative impact.

“If the government is able to maintain discipline and mitigate spending by doing more privatizations that could help allay these concerns. There’s a reasonable probability that that could happen, and this is a negative outlook, so it gives them some time to play this out”

said Shamaila Khan, director of emerging-market debt at AllianceBernstein in New York.

This comes in 3 years after the demonetization declared on 8 November 2016. After the Economy saw diminishing figures in Private Investment and Exports, Public Investment and Consumption was holding it afloat. But when Consumption starts for fall, resulting from all the factors laid above, GDP suffers.

If significant effective steps are not taken at the appropriate time, Economists fear that the economy might get in a Slump. One of the effective ways is to increase consumption. For that to happen, consumers need free disposable income.


There are a lot of Short-Term and Long-Term steps that the government could take to revive the growth. But until that is done, comment your views and effective ideas that could speed up this process.

Abhishek Sachdeva

Written by

Practicing Chartered Accountant, Reader, Tech Savvy, Finance & Economics Enthusiast. Ex-Banker and a Wanna-be storyteller. http://sachdevaca.business.site

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