Economy at worst in 70 years: Rajiv

Economy at worst in 70 years: Rajiv
Rajiv Kumar, Vice President of the NITI Aayog has made a serious statement on the condition of the Indian economy. Rajiv Kumar has said that the entire economy of India is in trouble and has not been seen in the last 70 years.

Economy at worst in 70 years: Rajiv
New Delhi: Vice President of the NITI Aayog, economist Rajiv Kumar has made a serious statement on the condition of the Indian economy. Rajiv Kumar has said that the entire economy of India is in trouble and has not been seen in the last 70 years.

Commenting on the state of the Indian economy, Rajiv Kumar said that no one in the private sector is willing to lend at present. Also, the cash crisis has increased following the decision on note-taking and GST. He also urged the government to take immediate steps on this.

No one is willing to trust anyone today. Rajiv Kumar underlined the seriousness of the issue, saying that this situation is not only in the public sector but also in the private sector.

The economy has changed since the decision on note-binding and GST. Earlier, about 35 percent of the cash was available, but now it seems to have dropped significantly. This has made the situation very difficult, ”said Rajiv Kumar.

The loan was disbursed from 19 to 5 without any further consideration. This led to an increase in NPAs (non-performing assets) after 3 years. This has reduced the ability of banks to lend new loans, said Rajiv Kumar. NBFCs have paid less for banks. NBFC loans increased by 35 percent. He also said that some provisions have been made in the recently introduced budget to boost the economy.

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