In his 1st video of #RahulGandhiSpeaksOnEconomy series RahulJi spoke about informal sector economy
Today Raghuram Rajan:
1️⃣ The reported 23.9% contraction in the economy is likely to be even worse when informal sector data is accounted for. (1/3)
bloombergquint.com/business/india…
Today Raghuram Rajan:
1️⃣ The reported 23.9% contraction in the economy is likely to be even worse when informal sector data is accounted for. (1/3)
bloombergquint.com/business/india…
2️⃣ Without relief, households skip meals, pull their children out of school, send them to work or to beg, pledge their gold to borrow, let EMIs and rent arrears pile up.
Similarly, without relief, small and medium firms stop paying workers, let debt pile up or close permanently
Similarly, without relief, small and medium firms stop paying workers, let debt pile up or close permanently
3️⃣ The recent pick-up in sectors like auto is not evidence of the much awaited V-shaped recovery. It reflects pent-up demand and will fade as we go down to the true level of demand in the damaged, partially-functioning economy (3/3)
#RahulGandhiSpeaksOnEconomy
#RahulGandhiSpeaksOnEconomy
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