In 2017, India was the 5th largest economy in the world. Many economists attribute this fall to the currency fluctuations & the slowing down of the Economy
There are a million homes unsold inventory in the metro cities in India which shows that people dont have money to buy homes.
More Job losses are predicted in the Auto sector with the govt pushing for electric vehicles quickly. Infact all other industries have slowed down considerably. Job losses are happening as we speak
The additional tax on the rich is pushing investors to move out of India. Govt is expecting to increase tax collections by 30%
But the question remains with people earning lesser, unemployed, corporates slowing down, where will this additional tax come from
Several govt schemes will get stalled, which may slow the economy further
This is a classic trap. We may be missing a good economist here. And more importantly probably someone who will be heard.
Maybe we need entrepreneurs to speed the economy up !
What are your thoughts?
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