Aam Aadmi Party (AAP) MP Bhagwant Mann on Monday hit out at the Centre asking whether the Narendra Modi-led government is ready to accept that the country is facing "economic depression".
"Is government ready to accept that the nation is going through a phase of economic depression," Mann asked Minister of State (MoS) for Finance, Anurag Thakur during question hour session in the Lok Sabha.
The opposition parties have been criticising the government over the state of the economy and had planned to raise the issue in the winter session of Parliament, which began today.Moody's Investors Service had said that India's economic slowdown is lasting longer than previously expected and pegged its forecast for the gross domestic product (GDP) growth of the country at 5.6 per cent in 2019 calendar year."We have revised down our growth forecast for India. We now forecast slower real GDP growth of 5.6 per cent in 2019 from 7.4 per cent in 2018," it had said in the Global Macro Outlook for 2020-21.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.