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Modi-2 facing economic downturn

Modi-2 facing economic downturn

Modi-2 facing economic downturn
August 23
05:49 2019

NITI Aayog Vice Chairman Rajiv Kumar has said that India was facing the worst economic slowdown in 70 years  leading  the liquidity problems into mega insolvency.

The glut in export market , higher price index ,growing unemployment are some of the indicators. The comments from the top economist come at a time the country’s economy is facing the worst pace of growth in nearly five years. The worst impact on slow down would be on agriculture and housing, infrastructure including irrigation.

The focus is to give more incentives to private sector not keep up the status quo. Lending reign has ended.Nobody is trusting anybody else. It’s not just the government and the private sector, within the private sector, nobody wants to lend to

India’s GDP or gross domestic product grew 5.8 per cent in the January-March period. For the financial year ended March 31, the economic growth stood at 6.8 per cent. Economists however say that the economy is expected to see some recovery in the July-September quarter.

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