After its brief stint as the world’s fastest-growing economy, India’s economic growth has been slowing to all-time lows. Crisil had forecasted India’s GDP growth to be 6.3% for the fiscal year 2020. Earlier it forecasted it to be 6.9%. This comes after the GDP growth rate was at its slowest in almost 6 years. Earlier, Moody too had forecasted economic slowdown by 6.2%. From these current data, it is obvious that the Indian economy is currently facing crisis due to a combination of factors such as increased unemployment rate, rural distress, liquidity crunch, etc.
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