With India’s GDP hitting a 40-year low in the current financial year, there is a risk of a storm of inflation and unemployment in the country.
According to Indian media, this year’s GDP has been negative 7.3 percent, the lowest level in 40 years, while last year’s GDP was 4 percent. Similarly, the economic growth rate was only 1.6 percent.
Similarly, India’s fiscal deficit has reached 9.3 percent of GDP in the current financial year, while the agriculture sector has also seen a decline, mainly due to the Modi government’s anti-farmer policy.
The Indian government has blamed the Corona epidemic for the downturn in the economy, especially in the last three months, when the number of Corona cases has risen sharply and thousands have died due to lack of oxygen.
However, independent economists say the Modi government has failed miserably in controlling the corona epidemic. The strict lockdown was carried out but no relief was given to the traders. Similarly, the export policy also failed.
Leading Indian political analysts also say that the Modi government focused on spreading hatred against minorities and opposition parties while increasing it instead of solving the real problems of the country.
