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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