The Year Twenty-Twenty has arrived. People have welcomed the New Year with peaceful celebrations, temple visits and late night parties.
Social media is overwhelmed with the deluge of greeting messages and digital graphics from the people while exchanging greetings.
The complete neutering of Article 370, Bifurcation of Jammu Kashmir state into Union Territory, criminalisation of triple talaq and now, the re-writing of the 2005 Citizenship Act to fast-track citizenship for the persecuted minorities from the three neighbouring countries invited huge protests across the states that has kept the people engaged like nothing before it.
There is much to write about the Earth-shattering events that happened in the erstwhile Jammu Kashmir state but we will confine ourselves to the economic situation as prevailed in India. As we enter 2020, the economy is in a downward spiral, despite a share market boom, the corporate sector is not growing, fresh investment has petered out and the general mood in boardrooms across the business world is downbeat.
India needs another round of big-bang reforms, particularly of land, labour and farm produce marketing. It is notable that with only three months left in the current financial year, disinvestment target of Rs1.05 lakh crore is not even a quarter fulfilled.
In short, economy poses the greatest challenge to Modi in the New Year. He can be trusted to take care of the Opposition, his real test lies in proving to the poor and underprivileged that he can take good care of their well-being.
The New Year has dawned with new hopes, optimism and opportunities. Though there were multiple challenges in 2019, it ended on a positive note. With experts predicting that the country's economy would witness growth in the months to come, hopes are high across industries.
Sensex skyrocketed 5,185.41 points or 14.37 per cent and the Nifty soared 1,305.90 points or 12.02 per cent during the entire year. On an annual basis, investors wealth soared by Rs over Rs 11 lakh crore in 2019 helped by the stupendous rally in the stock market.
Signing off 2019, the market capitalisation (m-cap) of BSE-listed companies rose by Rs 11,05,395.78 crore to Rs 1,55,53,861.47 crore. In CY19 till date India has attracted USD 14.3 billion from FPIs and USD 7.5 billion from local mutual funds.
It is expected FPI flows could remain positive in CY20. Politically, with a stable government in place, the country has got the potential to achieve more in various fields. Let 2020 spread development, peace and positivity in all spheres. We wish all our readers a very lively and winning Twenty-Twenty!
