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Oj Corner
Special column
by OJ George

Cheque facility won't be withdrawn, says the govt
It is a matter of relief that the Union Government has clarified that cheque facility won't be withdrawn.

There were stray reports that an overenthusiastic government favaouring total digitalisation may go in for banning the cheque books.


It is gratifying to note that the government won't proceed with the reforms this way.
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Growth slides to 5.7 per cent
There is bad news for the Economy, and everything is not hunky dory.

ECONOMIC growth slowed to 5.7 per cent in the first quarter of 2017-18 against 6.1 per cent in the preceding quarter.

This was sharply below market expectations and came on the back of large-scale destocking undertaken by manufacturers ahead of the Goods and Services Tax rollout and the lingering impact of demonetisation.

The GDP recorded a growth of 7.9 per cent in April-June quarter last year. The April-June growth estimate, the lowest in at least five quarters, trended down on account of a sharp deceleration in manufacturing growth, data released by the Central Statistics Office (CSO) showed.
   
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