www.thebuntline.com / email--buntline123@gmail.com

Tuesday, December 31, 2019

Difficult situation in economy; needs immediate reform

By on Tuesday, December 31, 2019

The predicament of Modi government on economic front is not going to be lessening. Reserve Bank of India has said that the banks trapped in the debt (NPA) shall increase. The central bank has warned in its financial stability report released on Friday that the debt sanctioned to the real estate sector has increased the NPA to 7.3 in June 2019 in comparison of 5.74% of June 2018.
The condition of government banks on this front is much more bad because the NPA has increased from 15 % to 18. 71% in the matter like loan. Total NPA of government bank is being told more than 10 lakh crore.
From the past sometimes negative news is being prevailed constantly for the economy.
A few days ago IMF has said that Indian economy is in critical condition and it needs immediate stepwise refurbishing.
After this Arvind Subramanyam, former economic advisor of BJP government, had said a little something. The statement was: 'Indian economy is moving towards ICU.' Arvind Subramaniam has said it is not a normal economic bad condition, but the condition is too critical.
 He said that the primary gestures for economy either gives negative growth rate or it shows nominal growth.