write an interesting news item from any of these feilds:education,science&technology,environment or social issues
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"India, Be Ready to Face the Real Economic Crisis"
As a major developing country, India is one of the growing economy since 2014. But the recent picture of Indian economic system seems to be rapidly deteriorating, resulting in massive slowdown in its growth. Major government and private officials are questioning government policies and are worried that if this continues to be the case, the future of the Indian economy is bleak.
According to Rajiv Kumar, the head of Niti Aayog, India's think tank, this "unprecedented" economic recession has taken place for the first time in 70 years. The graph chart of unemployment rate is decreasing with a speed. After more than four decades of Indepent India, this is the first time when the unemployment is devastatingly high, rating 6.1%. While the GDP has downgraded from 7.5% to 6.2%, the automobile sectors has faced a rapid 36% of loss. A humongous amount of workers were laid off due to this.
Starting from biscuit comoanies like Parle-G and Britania to men's inner garment producing companies, all are confirming the crisis that is the major issue for a growth. Inspite of all these chaotic drawbacks, Prime Minister Narendra Modi has targeted to make India a $5 trillion economy in upcoming 5 years. It is a much debated and questioned vow that the prime minister has ever taken after being re-elected.
To draw the conclusion, a question still remains, will this economic crisis going to be a cul-de-sac in the future or will it be improved into a better economy? To answer this, various entrepreneurs and economists have agreed and debated over it. Questions have arisen and opinions are shared all over the internet.