Students differ over slump in economy

DHARAMSALA: “Is India facing an economic slowdown?” was the debate topic for the students of Kangra schools at the inter-school debate-2019, organised by The Tribune and sponsored by Chitkara University, at Sacred Heart School in Dharamsala today.

In good stead: Winners of the inter-school debate organised by The Tribune Trust at Sacred Heart School in Dharamsala on Tuesday. Photo: Kamaljeet

Tribune News Service

Dharamsala, September 3

“Is India facing an economic slowdown?” was the debate topic for the students of Kangra schools at the inter-school debate-2019, organised by The Tribune and sponsored by Chitkara University, at Sacred Heart School in Dharamsala today.

While some of the students expressed concern over the slump, others maintained that India was still the fastest growing economy of the world and the current slowdown was a temporary phase.

A student said though concerns were being expressed about the slowing down of the economy, the country’s per capita income had increased.

Another student said some people were blaming the GST for the slowdown, which had actually created a single market in the entire country. The GST might have led to a minor slump, but it would help Indian economy grow at a faster pace in the near future.

A student negating the fact that the economy was slowing down said though there was slowdown in some sectors, others were growing. The IT sector was witnessing growth in India, with the Internet resulting in the mushrooming of digital marketing companies.

Another student maintained that the population size of 120 crore and strong legal system strengthened the country’s economy. He said the ease of doing business had increased in the last five years and since consumers were in India, the economy of the country could not go down.

On the human development index also, the global position of India had improved.

Students, who supported the assertion that India was facing an economic slowdown, said there was a sharp fall in the demand in auto and fast moving consumer goods (FMCG) sectors, which was a clear indication of economic slowdown.

A student said housing and real estate sector were in dire straits. As per the government figure, 1.28 million houses were yet to be sold. This illustrated the state of real estate sector that was directly related to over 200 industries.

Another student said to achieve the target of 5 trillion economy by 2025, India needed to grow at a rate of 9 per cent per annum. However, the statistics were proving that the GDP growth had come down to just 5 per cent last month.

A student said the agriculture sector was stressed, with the earning of farmers going down. Agriculture was the base of Indian economy and negative growth in it would serious impair the economy. The banking sector was also stressed and the government was being forced to merge banks that would further reduce the liquidity in the Indian market, he said.

A student supporting the assertion that the economy was slowing down maintained that as per the data of the government agencies also, the unemployment rate in the country was the highest since last 45 years. Government companies like Air India were facing losses of Rs 76,000 crore. This was an indication of the slump, he said.

A student said instead of stressing on increasing private or foreign investments, the government should concentrate on increasing consumption that would help the market grow.

Dharamsala SDM Harish Gajju, who was the chief guest, appreciated the students for their confidence and the research they had done for the debate.

Principal of Sacred Heart School Sister Molly Cherian thanked The Tribune for holding the debate.

Dr Naresh Sharma and Dr Amit Katoch were the judges.

Those who stood out

1: Avantika, first, GAV Public School, Kangra

2: Srishty Abroal, second, Achiever Hub Public School, Dari

3: Mannat Parmar, third, Army Public School, Yol Cantonment

Consolation prizes

Kanishak Sharma, Sacred Heart Sr Sec School, Sidhpur, Dharamsala

Avni Parmar, Sacred Heart Sr Sec School, Sidhpur, Dharamsala

Ravleen Kaur, Achiever Hub Public Sr Sec School, Dari

Best School