Chandigarh : Central government is currently under attack from opposition and various sections due to declining GDP and a prolonged, deepening economic crisis.The opposition which seemed ineffective from last many years has gained a big opportunity to hit out at the government by criticizing its economic policies. Meanwhile, automobile sector and stock market is among the most affected.
There is an atmosphere of despondency and fear persisting among the masses regarding future consequences of theprevailing economic conditions. It has been apprehended by the ex-PM, Singh thatthe half baked-demonetization and GST implementation are the prominent reasons for the current state of affairs. While opposition is trying to the instill fear of a major, wide spread economic slowdown, job loss and shut down in various sectors. One must note that,inspite of many troubles,Indian state has survived the two major economic disasters in a last one decade which jiggled the European and American market. India has the capability to overcome any such financial catastrophe in which many global factors have also played a significant role.
One could observe that besides various arguments, policies of current regime attempted to promote the organized economy rather than the cash based un-organized sector.Such initiatives certainly hold potentially precarious tendencies which could lead to many good or bad repercussions including jeopardizing the whole production, consumption and supply circle. Still we can hope for a revival of economy with enhanced growth rate riding over an organized and cashless sector.