The Indian economy is in a major slowdown, and the nation has been seeing a decline way before the expected recession has not even started showing signs. The current state of the Indian economy is a mess, and this has been made clear in a recent report that has been published. Let’s see what it has to offer.
This research was conducted by two scholars from the Centre for Global Development (CGD) who carefully studied the data of the economy and found evidence that the economic growth may be even worse than they are thought and reported to be. According to the research, several indicators are not just slowing down but are seeing an absolute decline; the index of production of capital and infrastructure is a key factor that has seen a major decline. While some indicators are showing positive growth too but they are marking well below the 6 percent mark that is considered to be the nation’s growth benchmark as per the World Bank and IMF project for the economy as a whole. The study cements the belief that the economy is very far from being called a positive growing one.
The government of India should wake up now and realize this before the matters get worse, and things go out of hand, and it gets too late to control. The inclusive development and sound growth of the economy that the Modi government is promising is nowhere near to be seen, and this will be devastating for the economy as it worsens.
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