Reserve Bank of India Governor Shaktikanta Das has raised concerns about the economy. He said that India’s economy could shrink by 10% by the end of 2021.
Shaktikanta Das said that there are signs of improvement in India’s economy. But the economy will be improved personnel. not together. This means that the Indian economy is going to be in a long period of recession. And we have to be ready for it.
Shaktikanta Das, we can improving Indian economy
Shaktikanta Das said during a conference that there are signs of improvement in the Indian economy. And the Indian economy is moving slowly. Shashikant Das said that we are finding from the report of various sectors that the Indian economy is moving fast towards reform. Although this improvement will be personnel.
Shaktikanta Das said that the Indian economy could have improved rapidly. But the increasing cases of coronaviruses have stopped the pace of the Indian economy.
We have to work together in all sectors of the economy
RBI Governor Shaktikanta Das said that we are getting signs of improvement in the economy. And we have to work together in all economic sectors including agri-commerce export import. Only then recovery in the Indian economy is possible. Shaktikanta Das said that the Reserve Bank of India is ready to take whatever steps are necessary to improve the economy.
Shaktikanta Das said that we have to encourage exports. We see that we are far behind in terms of exports from other developing countries. And much work remains to be done about this. Which can give a boost to the Indian economy.
India have lowest interest rates, Shaktikanta Das
Reserve Bank of India Governor Shaktikanta Das said that India currently has the lowest interest rate. We are constantly reducing interest rates. With this, the availability of capital with the Government of India is large. And the government’s ability to lend to people has also increased. This has led to an improvement in the Indian economy. At the same time, demand in the system has also increased due to cheaper capital. This is helping the Indian economy to rise again.
Shaktikanta Das said during his speech that the government currently has sufficient capital. And the government is lending to people in abundance. Shaktikanta Das said that in the coming times, the Reserve Bank of India can take even more steps to lift the Indian economy.
Unemployment rate at highest level in India
According to a report recently released by the BBC, the unemployment rate in India has reached the highest level. According to the BBC, the unemployment rate in India has reached above 9% at this time. Which is the highest in the last 45 years. At this time the government is constantly struggling with the problem of unemployment. And on social media platforms, people are constantly campaigning for the demand of employment. Due to which new trouble has arisen in front of the government.
However schemes like Mahatma Gandhi NREGA have given some relief to the government. And the government has been able to give employment to the people. However, the process of leaving the jobs of salaried workers has not stopped.
Experts are hoping that more people can get jobs in the coming time. Experts are saying that the economy is not fully open yet. In such a situation, we cannot estimate how much the Indian economy has suffered. The same cases of corona virus have also shocked the government’s expectations. This has not fully opened up India’s economy.
The government imposed a lockdown to curb growing cases of coronaviruses. But now this lockdown seems to be failing.
At present, there are more than 50 lakh corona virus patients in the country. Which is the highest in the world after America. India currently ranks second in terms of total corona virus patients. And in the list of countries with more than 5 million patients, it has reached second place after America.
In such a situation, experts are saying that the 21-day lockdown has proved fatal for the Indian economy. And it has not yielded any result. At the same time some experts were raising questions on Lok Down from the beginning. He said that it is wrong to shut down the entire economy simultaneously. Because then it will be difficult to restart the economy later. India also had to face the problem of migration due to the lockdown. And the lockdown was seen as the biggest exodus of the past several years.