Dr. Manmohan Singh in his official statement has declared that the Indian economy he slowed down and a 5% GDP in the last quarter can be seen as alarming.
The automobile segment is at a staggering 0.6% and it is but obvious that the economy hasn’t remotely recovered from the blow of demonetization and GST. With the nominal GDP at a 15 year low, and tax terrorism continues unhindered.
Singh talks about a jobless economic stagnancy with more than 3.5 lakh jobs lost in the automobile sector alone. Even rural India is struggling with it’s debts. Sadly independent institutions are also under attack and the country seems to be in complete meltdown.
Manmohan pleads the government to stop with the vendetta politics and start with recovering lost grounds.