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Rathin Roy spoken on the economy - India on the path of slow developing countries

New Delhi.The election of 5 phases of Lok Sabha elections 2019 has ended.  Election campaign is going on in the sixth phase.  Prime Minister's Economic Advisory Council member Rathin Roy told a TV channel that the Indian economy is going towards a deep crisis.  According to them, India has also gone on the path of developing countries like Brazil and South Africa, and fear that the economic slowdown will surround it.  This statement of Roy has come at a time when questions about the economy of the country's economy have started to rise.  In the monthly financial report of the Ministry of Finance in March 2019, it was said that India's economy has slowed down in 2018-19.  Estimated factors responsible for recession include declining personal consumption, minor investment in fixed investment and silent export.  Rathin Roy cautioned that the risk for the economy is very deep.

 They said - we are heading towards a structural recession.  This is an early warning.  Since 1991, the economy is not growing on the basis of exports.  Rather, on the consumption of India's top 100 million (100 million) population.  He said that 100 million consumers of India are empowering the development story of the country.  They said that, in short, we will not be South Korea, we will not be China, we will be like Brazil.  We will be South Africa.  He said that in the history of the world, the country has been avoiding the trap of middle income, but once it is trapped, then it has not been able to recover.

 JM Financial has said, we have already cut our estimates for auto sector and are looking at the reduction in income of food items.  In our opinion, the performance of the pure rural area will remain in the financial year 2020.  It has been stated in the survey that the growth rate of the rural area is currently slower than the previous 10th September in the 10 states. In September, it has been highlighted that in the rural areas the income was slow and non-agricultural income declined  Being impressed with being.  Due to the challenges of agricultural income, the sluggish demand in rural demand has become widespread, which was in the first western areas.  The main reason for this is that the prices of the crop are declining.

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