Economy rejuvenates with fresh talents, innovation education skilled shared and group talents with top brass charged with ions of humility.
IMF forecast India’s FY21 growth forecast at minus 4.5%.
World Bank projects the Indian economy to contract by 3.2% in FY21 and revise its rating due to covid lockdown of four months.
India deep pockets of fiscal institution slowly gradually ebbing with perpetual nepotism corruption at its vanguard and meritocracy jettisoned from private, government, political outit, Skills RD, Education Instituion and public sectors .India’s economy is in the unorganized sector, self employed their skill and confidence matters, can be food, digital, IoT, apparel,transport & FMCG.
The fiscal deficit, debt of the central government are likely to increase sharply over the next two years @WorldBank.
Modi government’s ill-thought policies have destroyed the Indian economy. GDP growth is falling, unemployment is rising, businesses are suffering, all major economic indicators point to a dismal situation. An experts tweets.
India, decisions, fiscal expenditure stimulus are difficult, given India’s initial condition of generally high level of government or public debt.
Economy shattered by covid lockdown resulting ,1.83 crore jobs in India lost, in India since April 2020, says Centre for Monitoring Economy.
Indian economy seems to heading not only by covid but high skilled PSU which can enhance high skills in manufacturing ,raw material,AI and digital economy finds the corporate infrastructure instead of restructuring are on sales with employment opportunities to be zero level and Atamnirbhar Bharat loss of vision.
India another parameters of its base economy is the falling savings rate may lead to Indian companies borrowing more from overseas markets, raising external debt in fiscal market thus corporate short of fiscal and human-machine high tech skill with raw material lack professional touch and on top our business education move red levels.
We are heading from change over to spill over corporate with no vision to economy thus NITI Aygog need take dip in hybernation and bring in theortical and frivolous experts.
People voted out after being sick and exited Congress selling revenue generating assets.
BJP in to power there has been a spike in bank NPAs. Even Bankers bank, RBI to transfer Rs 57,000 cr of surplus to govt for FY20. Last year, the govt took Rs 1.76 lakh cr from RBI. The BJP govt has made it a pattern of covering up it’s fiscal failures by raiding the RBI’s coffers expert tweets.
India also reported d highest unemployment in over 4 decades.
BJP seem to fall in pray for lust of money for its friends. BJP nationalism soaked seems to get into nepotism and corruption at higher levels thus self weakening govt result is chaos, protests,civil disobedience to surge.
Indian Economy in various sector has made to top pharma,but lacks in majority of manufacturing due to poor metallurgy lack of RD in raw mater thus gloom all around in corporate even after giving concessions like FDI limit raised external commercial borrowing allowed and limit raised SEZs established ports were linked with Sagarmala Project Tax holidays given to startups etc.
IMF GDP this year.
GDP growth, 2020. India: 1.9% China: 1.2% Indonesia: 0.5% Saudi: -2.3% Turkey: -5% Japan: -5.2% Brazil: -5.3% Russia: -5.5% South Africa: -5.8% US: -5.9% Canada: -6.2% UK: -6.5% Australia: -6.7% Germany: -7% France: -7.2% Spain: -8% Italy: -9.1% (Source: IMF
IMF revised down India’s fiscal year growth to minus 4.5%. They do not usually publish full calendar year forecast for India but, ironically, it is exactly the minus 4.9% that IMF mentioned for global growth. This is down to the number of COVID-19 cases per day, which was then only at 8,000, but is now in excess of 50,000.
IMF official said,we will have to think about this. The next time we do a forecast will be for the October 2020 World Economic Outlook. We will wait until we see the first quarter fiscal year GDP before making a forecast but again, I think there are downside risks for India