Narendra Modi appears on “pessimism” about the Indian economy

Narendra Modi has set up defence of her economic record and rejected criticism as a pessimistic after a sharp fall in growth has caused a series of attacks on her government’s policy. Indian Prime Minister broke silence on Monday night to address the recent criticism of his handling of the economy, the sharpest coming from the former finance minister in his own party. Modi said that there were some people who sleep well only after they have passed the feeling of pessimism. “We need to recognize these people.”

But his critics say the problems started earlier, burdened with banks with a high level of bad debt and commodity exports. These structural difficulties complicate the government’s policy demonstration in which 86 percent of their bills are combined to curb black money that is severely restricted by trade. Today, Yashwant Sinha, former Finance Minister Bharatiya Junta of the party has written in the way of working out of the criticism of the government in an article for the Indian Express newspaper, which said the economy is a “catastrophe”.

This week, Arun Shourie, has another former BJP minister, adds this critique and said in an interview with NDTV News Channel

“The Prime Minister has a revelation one morning that the demonstration should be done and done … that was a brave step.”Mr. Mods did not react to these criticisms and let Mr Sinh’s son Jayant Sinha, the Aviation Minister, defend the administration in place. But Tuesday, the prime minister spoke in a speech to the company’s secretaries.

“The government is working on a slowdown,” Modi said. “We are ready to make decisions and have the ability to do so”. The prime minister talked a few hours after the Indian Reserve Bank cut down on its growth calculation but refused to cut interest rates, saying he expects economic recovery soon. Ways insisted that the bases of the Indian economy are strong, referring to lower inflation and fiscal deficit which was lower than what the previous government led by the Congress.