Reportedly the economy crisis is bothering not just the industries but the government too. Meanwhile PM Narendra modi led BJP government in New delhi is doing all that is needed to revive the economy but the measures is not adequate. Furthermore credited for bringing unprecedented reforms in the early 1990s, former Prime Minister and economist manmohan Singh has proposed five points to turn around the slowing down economy.
Firstly among Manmohan's list is Good and Service Tax (GST) and he opined that this tax system is introduced in a faulty manner and it should be rationalized even if the government faces losses. Further the ex-PM asked the centre to focus on the agriculture sector and so this year the country has witnessed good rains and so agriculture sector should diversify its market.
Third is about creation of jobs and manmohan proposed that the government should take initiative of creating jobs in the fields of textile, auto and electronics. Moreover the fourth is addressing the liquidity crisis and also the banks should ease rules for home loans. Apparently manmohan also observed that the US and china trade war is impacting india and so the country should look for new markets for exports.
