New Delhi, December 21, 2024: A member of the Reserve Bank of India’s Monetary Policy Committee (MPC), Nagesh Kumar, has expressed concerns about the current state of the Indian economy, calling the ongoing slowdown serious enough to warrant immediate policy interventions. According to Kumar, the country is facing a critical juncture, with key indicators such as GDP growth, employment rates, and industrial output showing signs of weakness.
In his statements, Kumar highlighted that the slowdown is affecting multiple sectors, including manufacturing, agriculture, and services, and warned that without timely and targeted measures, the recovery could be prolonged. He emphasized the need for coordinated fiscal and monetary responses to revive growth and restore investor confidence in the economy.
Kumar also noted that the rising inflation and increasing unemployment rates were exacerbating the crisis, particularly impacting the lower-income segments of society. While the MPC member acknowledged the challenges faced by policymakers, he stressed that urgent action is needed to mitigate the risks of a deeper economic downturn.
