Only slow down & no recession in country: Frmr IIM(A) direct

 VADODARA: Bakul Dholakia, well-known economist, advisor Adani Group and former director of the Indian Institute of Management, Ahmedabad,
asserted that there is economic slow down and no recession is in the country.

Addressing the 20th annual management convention of the Baroda Management Association (BMA) here today, Dholakia pointed out that 44 out of 50 Nifty companies have made profit after announcement of their third quarter results which proves that recession has not affected the country.

The theme of the convention was on 'Managing In Times of Uncertainity.'

Speaking about myths & reality about current economic recession, Dholakia said this is right time for restructuring of economy and asked govt of India to take necessary steps which includes amendment in labour laws and restructuring and amalgamation of banks including private and public sector banks.

Carrying out economic reforms in the wake of balance of payment crisis in 1994, helped the country to come out from the crisis and the country continue to make progress and achieving more than nine per cent GDP, Dholakia said.

Dholakiya reminded that it was he who had predicted nine per cent GDP growth correctly when others were doubting about the ability of country in coming out of the economic crisis.