IMF: India Suffers Economic Slowdown
The International Monetary Fund (IMF) has asked the Indian government to take action over the rapidly collapsing Indian economy.
India is going through one of its worst economic slowdowns is not news anymore. This is not news anymore. You all know this. Because of this, theInternational Monetary Fund (IMF) has asked the Indian government to take action.The IMF has said that India is the world’s largest economy and it is a big market for various businesses.In its yearly review, the IMF said consumption, investment and tax revenue has reduced a lot in India. These problems has stopped the financial development of India. IMF Asia and Pacific Department's Ranil Salgado said that India is now in the midst of a significant slowdown and only quick policy changes can stop the economy from deteriorating.
He even said that the RBI needs to make many policy changes to manage the economy. India’s growth rate in July-September quarter was 4.3%. This is the lowest in 6 years. Same time last year the growth percentage was 7.1%. This is a serious fall. The government has to focus on making policy changes to lift the economy.