Service Sector

Coronavirus Outbreak: Unemployment rate in Asia-Pacific may rise over 3 percentage points; household income to fall

S&P Global ratings chief economist (Asia Pacific) Shaun Roache said the rise in unemployment could be larger now than in previous cycles because the downturn is much larger.

Budget 2020: Converge multiple corporate tax rates to 15% by April 2023; CII urges govt to make announcement on 1 February

The government last year reduced corporate tax rates to 22 percent, plus surcharge and cess

For India's $5 trillion dream to materialise, high quantity investments are in order; govt must acknowledge this reality

For India to reach the $5 trillion economy target, it needs to grow at 9 percent per annum, which is out of the question now

Jobless growth: Focus on manufacturing instead of services would have spurred employment, reduced poverty

The rapid pace of growth of the services sector was driven due to the liberalisation of the economy in 1991 as outsourcing was found to be particularly lucrative by the developed economies

PMI: India's services growth picks up pace in April as demand improves; job growth fastest in 7 years

The service sector plays a crucial role in India’s economy as it contributes about 60 percent to the country’s gross domestic product.

News18 Rising India Summit: India's foray into world market is services and not manufacturing-centred, says Paul Krugman

In the session right after Krugman’s, Ruchir Sharma, head of the Emerging Markets Equity at Morgan Stanley Investment, said that low-end manufacturing, which may seem unglamorous on the surface, is what will spur growth.

GST legislation is fine, but the absence of other major reforms will harm Indian economy

What exactly are the big bang reforms left to be legislated in a country which is no longer socialist?

Govt focusing on service sector, only 'lip service' to manufacturing: Kiran Mazumdar-Shaw

Labelling government's thrust on manufacturing sector as mere "lip service", Biocon chief Kiran Mazumdar-Shaw has said that ease of doing business in India has not improved and there is no consistency in policies.

Services sector lifts India's economy, jumps to 3-month-high in May: PMI survey

Services make up almost 60 percent of Asia's third largest economy and a pick-up, although mild, will bring cheer after a survey on Monday showed manufacturing activity, weakening for months, grew only a sliver in May.

Why growth has stalled - and it's not what the FM is telling us

The real growth engines of the economy - the so-called unorganised businesses - are stalling for want of credit. This is why the country's economy is stalling