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” Mishra says several structural changes are currently afoot in

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December 22nd, 2017

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KnockOff Handbags “I equate India with a house under renovation: several long held norms are being challenged; new and more efficient rules are being written,” says Neelkanth Mishra, managing director and India Equity Strategist at Credit Suisse. “We did expect the growth slowdown.” Mishra says several structural changes are currently afoot in India. With agricultural income growth stalling, millions of workers will be forced out of farming; GST is disrupting not only in expected ways of improving indirect and direct tax compliance, but also in upending margin structures in supply chains, forcing shops to register themselves and upgrade their billing software; the Real Estate (Regulation and Development) Act (RERA) has led to a slowdown in property launches; and bankruptcy code action has picked up, with several companies that defaulted on loans being referred to the insolvency process. “With so many structural changes going on, it is hard to isolate the impact of one change,” he says. Srivastava of consulting firm EY says the fall in growth is partly due to demonetisation and partly in anticipation of GST. “The pain is likely to last the next 6 9 months, a transitional period for GST,” he adds. KnockOff Handbags

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