User:AUDUMBER KHOT/sandbox

With an aim to acquire USD five trillion economy status, India has to consistently achieve a minimum of 9%+ growth rate for next five years. On the other hand economic indicators reflect that the GDP growth of India has gone down to almost five percent in the first quarter of financial year 2019-20. Many sectors that contribute to the Indian Economy’s growth path, like Automobile, Real estate, FMCG, Manufacturing, Agriculture are lagging behind in achieving desired growth rate andTo become a USD five trillion economy in 2025, India must achieve USD 3.3 trillion economy status by 2021; USD 3.6 trillion economy status by 2022; USD 4.1 trillion economy status by 2023; USD 4.5 trillion status by 2024 and USD 5 trillion economy status in 2025. However, the current trends and prospects do not favour this dream. Recent Slow Down of Indian Economy: Impact is Prominent The GDP growth of Indian Economy has touched the six year low in the first financial quarter of April-June 2020. It touched 5.8% growth in January-March, although in nominal terms India’s GDP grew by 7.99% which is also lowest since December 2002. Key sectors bearing the brunt of Indian Economy slow down are Agriculture, Automobile, Real Estate, FMCG among others. The $100 billion automobile industry that employs 370 lakh people and contributes 12% to the national GDP, is suffering from huge slow down. Around 3 lakhs jobs are lost, Sales have gone down and the automobile industry appears to be going in reverse gear. The official data released by the National Statistics Office (NSO) confirm that. Weaker consumer demand and slowing private investments are the two key factors behind the Indian Economy Slow Down. Eight core sectors have registered negative growth of just 2.1% in July, compared to 7.3% in the corresponding month last year. According to the Centre for Monitoring Indian Economy (CMIE), the overall unemployment in India has now touched 8.2%, with a high urban figure of 9.4%. FPIs have pulled out a net amount of Rs 5,920 crore even after the government announced a rollback of enhanced surcharge on FPIs. All the sectors need huge investments and remedial measures to increase the demand to improve and take India out of the state of economic slow down. Indian Economy, no doubt is passing through a sluggish economic growth since 2016 post demonetization as compared to earlier years, although efforts are being made to improve the Indian Economy’s growth to achieve the rate which may not be considered as very slow. Government however, is of the opinion that India’s economy has a better growth rate amidst global economic slowdown, if we go by the global economic growth standards. jobs in these sectors are not only going down but are also trimmed.