கார்த்திக் நீலகிரி
Towards $5 trillion economy... I repeat, the first step to recover from a problem is accepting it... We're still in denial mode...
//A day after Prime Minister Narendra Modi claimed that the fundamentals of the economy remain strong, rating agency Moody’s Investor Service on Friday changed its outlook for India’s sovereign rating (Baa2) from stable to negative, saying that the domestic economic downturn could be structural.//
//Moody’s said India’s potential gross domestic product (GDP) growth and job creation will remain constrained unless reforms are advanced to directly reduce restrictions on the productivity of labour and land, stimulate private sector investment, and sustainably strengthen the financial sector.//
//Moody’s said while government measures to support the economy should help reduce the depth and duration of India’s growth slowdown, the prolonged financial stress among rural households, weak job creation and, more recently, a credit crunch among non-bank financial institutions, have increased the probability of a more entrenched slowdown.//
