‘Erosion of Trust’: Manmohan Singh on Economy’s ‘Precarious State’
In The Hindu, the former PM called for a boost in demand through fiscal policy & a revival of private investment.
Former Prime Minister Manmohan Singh has called the state of the Indian economy “deeply worrying” and has said that the statistics behind the economic slowdown are “manifestations of a deeper underlying malaise.”
Writing in a editorial in The Hindu, the widely-respected economist and Congress leader also criticised the Modi government’s approach to policies of the previous government. saying that the government tends to “look at everything and everyone through a tainted prism of suspicion and distrust.”
Singh has suggested some solutions to revive the flagging economy including a twin-policy solution which would enable a boost in demand through fiscal policy and a revival of private investment through “inspiring trust and confidence in the economic participants in our society.” He also urged PM Modi to let go of “deep-rooted suspicion of industrialists and entrepreneurs” to boost the Indian economy’s fortunes.
Here are some key excerpts from his editorial in The Hindu:
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