Categories: Business

India growth rate may dip to negative 9 percent this fiscal says swamy


corona crisis

new Delhi. Bharatiya Janata Party (BJP) leader and Rajya Sabha MP Subramanian Swamy said on Thursday that India's economic growth rate could fall from zero to six to nine percent in the current financial year due to the corona virus epidemic. However, he said that if the right policies are implemented, the economic growth rate may bounce back in the next financial year. Swamy said, "The economy has collapsed during the last four to five years. All that is done with the Kovid-19 is that the speed of the fall has increased. Now you will find that by the end of this financial year, the growth rate will fall from zero to six to nine percent. "

He was addressing a virtual meeting organized by the Telangana and Andhra Pradesh branch of the American Chamber of Commerce. He said, "How will it change? There is potential for production. The only question is that you should be able to make production profitable and we should ensure that workers are needed in factories, in the fields. They are all able to return to their work. Once this happens, I would say that if you follow the right policy, in 2021-22 (next financial year) we will reach a growth rate of seven percent, but the policies should not remain the same as in the last five years. "Swami Said that he has written to Prime Minister Narendra Modi on several occasions in the past, hinting at an economic slowdown.

He said, “I wrote a letter to the Prime Minister four years ago, stating what the situation will be by the end of this year. I wrote a letter in 2015 that the growth rate will start to decline every year, we are going into decline. "The BJP leader said that the stimulus package announced by the central government for the revival of the economy directly demanded Does not create

This post was published on July 24, 2020 1:23 am

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