Economic Slowdown is one of the biggest issues that has been plaguing the country for a while now. The past few days has seen some major developments in this issue with the slowdown being addressed in the Lok Sabha, the former Prime Minister condemning the government as the cause for the slowdown and much more.
Finance Minister doctors data to save face
The Finance Minister Nirmala Sitharaman on Monday’s session of the Lok Sabha brazenly denied the existence of economic slowdown in India. According to an article on Telegraph, Ms. Sitharaman said that “Data released by the Central Statistics Office shows that the annual GDP growth was 7.5 per cent between 2014 and 2019, the highest among the G-20 nations,” when questioned by Kerala MP N.K. Premchand.
Ex PM slams Govt for slowdown
Former Prime Minister Manmohan Singh lashed out on the distrust the Government has caused among the people and the effects it has had on the economy in an opinion piece he wrote in The Hindu yesterday. He claims that the Modi Government’s policy of treating all buisnesses and enterpreuners “ through a tainted prism of suspicion and distrust” has caused most people to refrain from investing in the country.
The Richest man in the world says there is potential for growth in India
Bill Gates, who recently gained back the title of “world’s richest man” said in an article in India Today on Sunday that there is a lot of scope for devolopment in India in the coming decade though the immediate situation may not be favourable to the country. He elaborated on how there will be scope for development in the fields of education and medicine in an interview with The Economic Times.
The twitterati have taken to social media to express their concern and displeasure on the current state of the Indian Economy. Here are some tweets on the trending hashtag #IndianEconomy
— Murali (@muralwrites) November 19, 2019
Almost all the economic indicators suggest that we are well into an economic slowdown, and it can possibly get worse from here. The irony is that this slowdown seems to be obvious to everyone except the government. #IndianEconomy
— kikob20 (@kikob201) November 19, 2019
— Ravi Kant – रवि कांत (@LegalKant) November 19, 2019