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From Agency’s To Economic Experts everybody raising attention towards India’s Economy

India continues facing Economic Doldrums. From last 6 months, the World’s largest democracy is facing very enormous circumstances in his economy. As per the reports due to this economic lapse over 1lakh employment has been disappeared in Indian markets. Principally sectors like automobile and Real estate not holding their best time.

1) On Sunday Former two time Prime Minister of India Dr Manmohan Singh has said the state of the economy was “deeply worrying” and that “all-round mismanagement” by the Modi government has resulted in this slowdown.

In a remark, he said the last quarter GDP growth rate of 5 per cent signals that “we are in midst of a prolonged slowdown”. Media Agency PTI Reported.

  • Dr Singh is also the former RBI Governor and the great economist, Dr Singh save in India from the economic slowdown in the 1990s when India almost under the recession.
  • He also added India cannot afford to continue down this path. Therefore, I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis.
  • 2. Singh said it is particularly distressing that the manufacturing sector’s growth is tottering at 0.6 per cent. This makes it very clear that our economy has not yet recovered from the man-made blunders of demonetisation and a hastily implemented GST. Investor sentiments are in the doldrums. These are not the foundations for economic recovery. Mr Singh has requested the Government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis.

    Dr Singh also recommended Modi Government if, will similarly be large-scale job losses in the informal sector, hurting most vulnerable workers.
    He also added Budget decisions and rollbacks have shaken the trust of international investors. India has not been able to boost its exports to take advantage of openings that have arisen in global trade due to geopolitical realignments. Such is the state of economic management under the Modi government
    Modi Government should take this sincerely the guide given by the Ex-PM and Noted Economist of India.

    Now the reports also come the country’s mining sector is an industrial slowdown.

  • After the Auto sector and Real Estate Now its time for Mining sector watches at a drop. India’s domestic mining sector may have presented one of the silver partitions in the GDP growth sum for the first division of fiscal 2020 that was issued last Friday but like most other industries, this sector is also gazing at an extensive slowdown shortly.
  • Job loss can also take place According to Federation of Indian Mineral Industries (FIMI), a combination of parts like ban on mining exercise in some states due to environmental concerns, unbalanced policies, high levying and poor strategy implementation at least 2 lakh people have previously lost their jobs in the sector while added 2.64 lakh jobs are in danger.
  • Today Rating agency fitch has also said that India’s GDP growth will be a bounce-back at a slower rate. As per them, India’s economic growth will pick up over the upcoming quarters but the rebound is assumed to be weaker than earlier, Fitch Solutions said on Monday as it scraped GDP estimate for the current fiscal to 6.4 per cent from 6.8 per cent earlier.

    2. India’s real GDP growth collapsed further in Q1 of FY2019/20 (April-March) to 5 per cent year-on-year, from 5.8 per cent in Q4 (January-March) FY2018/19 due largely to a visible slowdown in private consumption growth.

    Coming To manufacturing sector

    Now, this sector is also facing economic depreciation. As per the media reports and Reuters.

  • Development in India’s manufacturing sector its slowest in 15 months in August as demand and output rose at their lightest speed in a year and cost demands progressed, a private sector poll showed on Monday.
  • The survey comes after correct numbers showed India’s economy increased at a yearly rate of 5 per cent last quarter, its slowest in more than six years and significantly lower than 5.7 per cent in a Reuters poll.
  • Modi Government of India Should take these concerns towards the economy as the signs of India can face the most critical situation in the upcoming future.

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