Indian economy in danger...!
Every international organization has continued to lower India's economic growth forecast for fiscal 2022. On the contrary, the government says the indian economy has not been hit hard by the second wave,
P.Chidambaram's foresight
P. chidambaram said the world economy was currently in a slump and inflation was high. Former Union Finance minister p. chidambaram spoke on the indian economy.Back then, the world economy was in a slump; Inflation has risen; 40 per cent said they had lost their jobs. The indian economy is at risk and investment is down. p. chidambaram also said that interference in the name of government policy was useless.
Sonia Gandhi's Heed
The congress party executive committee meeting was held in Delhi. Speaking on the occasion, sonia gandhi accused the indian economy of being in a very bad state but the central government was trying to make everything look good.Sonia gandhi said the sale of public sector companies was an example of how the economy is bad. sonia gandhi also added that public sectors were not only created for economic progress but also for social progress too.
Gita Gopinath's Resignation and Advice
International Monetary Fund chief economist and indian Geeta Gopinath has announced her resignation. From time to time she has attracted the attention of many by publishing many important views on India's economic growth and trade policy.The global economic recovery continues, but the real momentum had slowed as a result of the Pandemic. Pandemic outbreaks have caused longer-than-expected supply interruptions, feeding price boom in many countries. Overall, economic risks have soared, and policy trade-offs have become more complicated.
IMF warned Other Countries
The severe vulnerabilities in india will also occur in low- and middle-income countries around the world. Therefore, this should be taken with caution, the IMF said in a statement.In this context, the international Monetary Fund has reduced its economic growth forecast for fiscal 2022 to 9.5 per cent. Earlier, the international Monetary Fund had forecast that india would grow by 12.5 per cent in the current financial year, but the second wave of corona outbreaks in March-May has hit the country hardest.
Nirmala Sitaraman's Declaration
Union Finance minister Nirmala Sitharaman, who toured the United States, attended a World bank Development Committee meeting there.The country's finance minister stated that india is not in a hurry to switch the pandemic-era stimulus and is willing to do more further if essential to strengthen the country's economic recovery.
She addressed the indian Economy stating that the indian Economy seems to retain the status of an investment-friendly country among global investors.