Economic slowdown! Should you worry?

Since the 2nd term of the BJP led govt has come into action, if something has always been on debate, it has to be the concern of Economic Slowdown whats been happening in the country right now.

So let us go through some facts on that:

Although the economic downturn is global. IMF has projected that 90% of the world economy will grow at a lower rate in 2019 than in the previous year.

Jobloss: Unemployment in India is at a decade high has already painted a worrisome picture. The spurt in instances of job losses from automobile manufacturers to biscuit makers has led to the general acceptance of the downturn.

GDP: The GDP growth rate of the economy has slipped to 5 per cent in the first quarter of FY20, the lowest in over six years and this is indeed portray a bad day ahead.

Demonetisation: After 3 years of demonetisation, the oppositions still blaming this was a curse for Indian economy.

Auto sales: Auto and auto ancillary sector is hit severely, Sales of four wheelers has come to 19 years low.

What experts say?

Economist and Ex RBI Governor said, India has slowed considerably from the go-go years before the financial crisis. At present, the country is facing a serious demand crunch coupled with a slump in macro numbers. To make matters worse, the August Index of Industrial Production figure was the lowest in almost seven years.

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