How to get a better deal from national office supplies?
New Delhi: With a government-commissioned survey showing the economy in a deep hole, Prime Minister Narendra Modi’s government is in the final stages of trying to revive the economy and tackle the crisis of confidence in the country.
The survey, conducted by the Economic Survey Research Institute (ESRI), showed that the economy grew just 1.5 per cent in July-September, the weakest reading since the government took office.
The government is hoping that the recovery will continue and that the next financial year will see a better outlook.
The survey, which has been conducted for nearly a year, shows that a whopping 75 per cent of respondents said they would consider buying a national office supply company (NOS) for their offices or their company, if their income went up by 15 per cent or more over the next 12 months.
According to the ESRI survey, of those surveyed, 71 per cent were confident in the future of the economy, a sharp jump from March and the best performance since June.
About 41 per cent felt the economy was going in the right direction and the economy had the potential to grow 10 per cent per annum in 2018-19.
The overall confidence level of the people was 62 per cent, the highest level since April 2016, when the economy registered an 8.7 per cent slump.
While this was a record high confidence level, the confidence level among the senior managers of NOSs, the people most likely to be affected by the slowdown, was only 43 per cent.
This is the lowest since March 2016, the month when the government announced demonetisation and a steep rise in the value of the rupee.
The government has been pushing for NOS companies to be part of the national economy for the last two years and has been busy filling more NOS slots, as well as filling up NOS accounts with cash.
The ESRI also said the government is planning to hire more than 20,000 NOS staff to work in the new National Office Supply and Services (NOSP).
While the government has so far been slow to invest in NOS stocks, the government may have been able to leverage the NOSP and NOS account for some of the money it is using for investment projects.
It may also be able to boost the share price of NOSP stocks by buying back shares of Nospas, the ESRIs said.
The ministry has been targeting at least one-third of Nos stocks in the next two years.
The Prime Minister’s Economic Advisory Council (PACE), a government advisory body, has also been working on a National Office Sales and Marketing Strategy to bring more NOSP stock to the market.
The ESRI has been conducting surveys on the economy for about four months now.
The latest survey results were taken on August 19, and the government will send it to the Cabinet for approval in the second week of September.