IMF: India Suffers Economic Slowdown

IMF: India Suffers Economic Slowdown


India’s economy has really deteriorated. This is not news and you all know this. IMF is a global organisation that focusses on the development of economies around the world. They have asked the Indian government to take action over the collapsing economy. This is because India is the world’s largest economy and it is a big market for various businesses. Earlier when people were paid well, their consumption capacity was high. They would make investments by buying shares, land, houses,etc. Also they pay tax which would help Indian government in development. This year, all of this has severely reduced. Since these have reduced, the financial development of India has stopped . IMF Asia and Pacific Department’s Ranil Salgado said that India is now in the midst of a significant economic slowdown. Quick economic policies changes will reverse the situation. He even said that the RBI needs to make many policy changes to manage the economy. India’s growth rate in July-September quarter was 4.3%. This is the lowest in 6 years. Same time last year the growth percentage was 7.1%. But now it has fallen so low. Such a huge fall in the percentage is not a joke. The Indian economy is in big trouble. The government has to focus on making policy changes to lift the economy, instead of focussing on other topics.

Leave a Reply

Your email address will not be published. Required fields are marked *