Swaminathan Aiyar and Maneesh Dangi discuss the global shift from manufacturing to services, highlighting the challenges that tariffs and mechanization pose for job creation in manufacturing. In India, manufacturing struggles despite support measures, while the services sector thrives. The political reluctance to reduce non-wage costs hinders formal employment growth in the manufacturing sector.
Bank lending growth halves in February amid retail and NBFC slowdown
Bank lending growth in FY’25 until February slowed to 10.9% from last year’s 20.6% due to a decline in retail and NBFC loans, according to
March 28, 2025