Modi govt ignoring warning signs on economy: Critics
The Modi government is not doing anything to set the economy right, critics are saying. The July 5th Union Budget continues to rile them up.
"The headwinds are visible. If the high-frequency data is anything to go by, growth rate will continue to be bad. Despite the warning signs (for example, in terms of low household savings, etc), the Centre is not waking up," a commentator says.
The Budget's failure to "revive the animal spirits" is there for everyone to see, say the critics. "Some of the proposals have scared retail investors. Finance Minister Nirmala Sitharaman has committed errors of omission," they add.
Still others say that the RBI keeping the interest rates high has only been adding to the mess.