The economic downturn is very worrying
It is estimated that the pace of development will be within 7%.
Former RBI Governor Dr Raghuram Rajan ,reiterated that the economic downturn is a worrying and need for a new phase of reforms. The then International Monetary Fund economist who predicted the third global recession. Dr Rajan, in an interview to an English finance news channel on the prevailing economic anxiety environment, indirectly expressed the expectation of the central government in India to take measures. Dr Rajan said that the downturn in the economy is at an alarming level and the government needs to take concrete measures to achieve this. Citing the need for energy and non-banking finance sector, Rajan said that a new phase of economic reforms should be implemented to boost private sector investment. Dr Rajan noted that the growth rate is being predicted through various means, especially through private surveys, and at the minimum level, it is a worrying situation for the economy as a whole.
Former chief economist Arvind Subramanian had also criticized the Modi government for leaving the post on developing a new benchmark for growth rates. It is estimated that the pace of development will be within 7%.
Debt dues are huge in some corporate areas in the United States. In China too, the industry has been given a large amount of debt. The governments of these countries also have huge debt. Bank loans were a major factor in 2008. Today's situation is different from saying that good is good. I can't predict some of the major financial evils. However, when it does, the reasons will be different. Today, the financial crisis has not caused the worst. However, issues such as trade, global investment are more worrying.