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New Delhi : The Vice President of India M Venkaiah Naidu on December 27, 2019, expressed confidence that the Indian economy would rebound in the near future saying that the current slowdown was cyclical. Inaugurating the 102nd annual conference of the Indian Economic Association, Naidu said it was true that the Indian economy was facing some challenges due to the decline in growth this fiscal. However, he said the country had faced similar slumps in the past in the wake of the East Asian financial crisis and global slowdown but bounced back with a higher growth rate every time.

Referring to the reforms initiated by the government including the introduction of the revolutionary GST to usher ‘ One Nation, One Tax, One Market’, the Insolvency and Bankruptcy Code and the steps taken to curb black money, Naidu asserted that they were aimed at making the economy more robust and more resilient.

Pointing out that 66 lakh new taxpayers have been registered under the GST regime since its launch, the Vice President said that it indicated the rising trend of formalisation of the economy. The Government has also taken measures to tackle the problem of NPAs and improve the health of the banking sector, he added.

Observing that agriculture was the mainstay of Indian economy, the Vice President cautioned that various waivers and subsidies would be unsustainable in the longer run. Stressing the need to diversify the rural economy, he said “rural non-farm activities are equally crucial for the growth of the rural economy.” Stating that it was our national resolve to double the farmers’ income by 2022, Naidu called for making rural economy sustainable and remunerative.

The Vice President also stressed the need for agricultural products to have access to larger markets, strengthening rural infrastructure, storage, and supply chains, apart from promoting village level in-situ food processing industry. Referring to fiscal federalism as one of the themes of the conference, Naidu said while most of the States have retained their fiscal deficit around permissible 3%, it has come at the cost of low capital expenditure. “There has been a rise in committed liabilities towards payment of interest and pensions, thereby leaving only a small part of their budget for capital expenditure on infrastructure development, he added, according to a PIB release.

The 102nd annual conference of the Indian Economic Association is being organised at Pt. Ravishankar Shukla University, Raipur.

Governor of Chhattisgarh Sushri Anusuiya Uikey, Chief Minister Bhupesh Baghel, International Economic Association President Prof Kaushik Basu, Indian Economic Association President Prof Mahendra Dev, Vice Chancellor of Pt Ravishnkar Shukla University Prof Kesari Lal Verma and noted economists from across India and the world were present at the event.

23 thoughts on “Naidu expresses confidence economy will rebound in near future, says current slowdown cyclical”
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  15. People call me Mike, a regular guy from the USA, and during 2018 I accidentally discovered one of the weirdest sports
    on Earth: car jitsu.

    If this is your first time hearing about it, you are not
    alone. The entire concept sounds like a joke. Two competitors
    climb inside a tiny automobile and try to control each other while being trapped between the cramped interior.

    Believe it or not. In most sports you have a ring, but
    in CarJitsu your battlefield is a car cabin. That is why people laugh when they first hear about it.

    There are organized competitions, tournaments, championships, and special events.

    Athletes travel to compete and try to prove who can dominate inside
    the car. Unlike traditional combat sports, every movement is
    limited by doors, seats, windows, and seat belts. This leads to funny situations.
    One second someone looks like a champion, and the next second they are trapped near the steering
    wheel.

    During those days I was heavily interested in competitive
    sports. I watched many sports events every week.
    I also spent time reading about sportsbook odds. People around me talked about betting and sportsbooks.
    Sometimes names like 1xbet would appear in conversations about major sporting events, although CarJitsu was usually too strange to be the main topic.

    Late one evening I saw a video clip online. Initially I believed it was a joke.
    Competitive fighters were trying to battle inside a
    parked car while spectators were laughing, cheering, and recording videos.
    I laughed so hard that I almost fell off my chair. Yet the more I watched,
    the more fascinated I became.

    Soon after that, I found a local event and decided to watch in person. The event
    was unforgettable. There were fans discussing sports, training, and competition. Some people even joked about which athlete would be
    the favorite if a sportsbook ever offered odds on the matches.

    Soon I wanted more than just watching. I signed up
    for beginner training. My first session was a disaster.
    I hit my head on the roof, got stuck near a seat, and accidentally opened
    a door at the worst possible moment. Everyone
    laughed. Yet I kept coming back.

    Week after week, I improved. I learned how to use technique and movement.
    The vehicle became familiar. Soon I was entering local competitions.
    My friends thought I was completely crazy.
    Whenever someone asked what sport I practiced, the conversation usually went like
    this:

    “CarJitsu.”

    “What is that?”

    “Imagine wrestling inside a car.”

    “You’re joking.”

    “No, that’s the actual sport.”

    The most unforgettable competition happened at a
    major event. My opponent was built like a truck.
    He looked like he could bench-press a refrigerator. Before the match started, he
    smiled and said, “You’re going to need luck.” I should have listened.

    The match began, chaos exploded. We bounced between seats,
    bumped into doors, and nearly tangled ourselves in everything inside the vehicle.
    The crowd was roaring. People were laughing and shouting.

    Then came the moment I will never forget.

    My opponent grabbed the seat belt and accidentally turned it into what looked like a wild whip.

    As we struggled for position, the belt snapped across
    the cabin and wrapped around me in the strangest way imaginable.
    For a second I thought, “What kind of sport did I join?”

    He pulled, I twisted, the seat belt locked, the door opened slightly, and both of us somehow
    ended up tangled together like human spaghetti. The audience was laughing so hard that some people could barely stay in their seats.
    It looked completely ridiculous.

    For a brief moment, I genuinely thought my opponent was going to destroy me.
    Fortunately, the officials quickly intervened when things became unsafe, and the situation was resolved without serious
    injury. Afterward we both burst out laughing.

    Everyone loved it. Even today people who were there still talk about “that crazy seat belt match.”

    Looking back, CarJitsu remains one of the strangest sports
    I have ever experienced. It gave me countless funny moments.
    Whether people are discussing athletic entertainment, very few things create reactions like CarJitsu.

    Whenever someone asks me about unusual sports, I always tell them about the
    day I climbed into a car in 2018 and accidentally became
    a CarJitsu competitor. Most people laugh. But after hearing about tournaments, athletes, training sessions, sports fans, betting conversations, sportsbook discussions,
    and my unforgettable seat belt battle, they usually agree on one thing:

    CarJitsu is absolutely insane.

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