India Facing “Unprecedented” Economic Slowdown, Extraordinary Steps Urged

Posted on August 27, 2019 8:11 am
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URL https://www.activistpost.com/2019/08/india-facing-unprecedented-economic-slowdown-extraordinary-steps-urged.html 

By Kevin Helms

Many signs indicate that the Indian economy is under grave stress, affecting nearly all sectors. “India’s economy is in a deep mess,” due to initiatives such as demonetization and GST, some lawmakers say, as they urge the government to handle the situation “which is intensifying on a daily basis.”

‘Unprecedented Situation’

India is facing an economic slowdown not seen in 70 years, Rajiv Kumar, the vice-chairman of Indian policy think tank Niti Aayog, explained at the Hero Mindmine summit last week. The current liquidity crisis has forced businesses to survive on cash since lenders have stopped funding

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