BJP government can't build anything, can only destroy: Rahul Gandhi
By Indiatoday 03-Aug-2019
Gandhi's attack on the BJP government comes at a time when India has slipped two spots and lost its spot as the fifth-largest economy in the world. India has now come down to the seventh spot as UK and France overtook it. Meanwhile, several core sectors have been witnessing a sharp slowdown due to lower consumer demand and lack of lending to companies.
Several sectors including auto, banking, real estate, and manufacturing have slumped as most non-banking financial companies are not lending to smaller firms. Top company executives have cautioned the government regarding the slowdown and requested it to take swift steps to reduce the crisis. The slump in economic growth has also affected Indian stock markets as it has lost a massive amount of investments from Foreign Portfolio Investors. External factors like the escalating trade tension between China and the US has added to growth pressure.
Top executives like L&T Chairman AM Naik and HDFC's Chairman Deepak Parekh recently admitted that the situation is challenging as the economy is witnessing a "distinct slowdown". However, they added that the slowdown is temporary and certain moves could help reverse the situation.
क्या आरक्षण पर मोहन भागवत के बयान से चुनावों में बीजेपी को नुकसान होगा?
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