A scheme like NYAY is needed to boost demand
That India is facing a huge economic slowdown is no longer a secret. GDP growth has slumped to 5 per cent in the first quarter of this fiscal. India has handled similar situations in the past. In 2008, the sub-prime crisis saw the world plunge into recession. But India consistently registered quarterly growth of over 6 per cent (above 8 per cent based on the new GDP formula) through the 12 months of September 2008-09 and came out relatively unscathed from the recession.
However, the impending 2019 economic crisis in […]
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