Sree Vijaykumar |
From the Editor's Desk
Once upon a time, we hated Wall Street, for its greed and apathy! Main street suffered, while the financial markets bloated up. Can we accuse Silicon Valley of the same? After all, people do lose jobs when an industry gets disrupted by technology (think automated cars vs drivers, airbnb vs hotels, amazon vs traditional retail). Yes, things become more efficient with technology and that is supposed to lift all boats, but does it? Erik Brynjolfsson, a professor at the M.I.T. Sloan School of Management, told MIT Technology Review, "Productivity is at record levels, innovation has never been faster, and yet at the same time, we have a falling median income and we have fewer jobs. People are falling behind, because technology is advancing so fast and our skills and organizations aren't keeping up." It is, he said, "the great paradox of our era." Full article by Om Malik here
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How have Indian businesses been impacted during and after the lockdown? Covid created various operational and financial challenges for Indian businesses. During the lockdown, approximately 71.31% of the businesses dealt with reduced cash flows with the manufacturing sector being the worst hit. Additionally, delay and cancellation of projects have also been a major cause of concern, especially in the tertiary sectors.
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India’s ‘shambolic’ central bank delay holds back recovery The RBI deferred its three-day interest-rate meeting due to start Tuesday, without giving any reasons or a new date for its policy decision.In India, appointments to key positions by the government -- from heads of state-run banks to deputy governors at the RBI -- can be a lengthy process fraught with delays
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