The biggest reason for why the slowdown is coming in economic growth is geopolitical and policy uncertainty. This is the country’s Chief Economic Advisor (CEA) V Anant Nagswaran. He says that due to this, the golden era of globalization is probably disappearing. According to the government’s budget-pre-Economic Survey, India’s economy is expected to increase by 6.3-6.8 percent in the upcoming financial year, which is much lower than the growth rate required to become a developed country. According to PTI news, Nagswaran says that regulation and reforms are needed in areas such as land and labor to encourage growth.
The era of globalization is over
According to the news, the era of globalization is over. Favorable winds of globalization are becoming adverse. There is geopolitical and policy uncertainty on the investment front and on the trade front, and growth estimates also indicate it. The status related to the economy status released on Friday indicates that India’s world-level growth rate is slowing down and India needs to do more work to achieve about 8 percent annual rates to achieve the target by 2047 Is.
The golden era was till 2016
The Chief Economic Advisor says that the Golden Age after 1980, which was probably until 2016, was the era of globalization, in which the trade flow increased as a part of the GDP, invested as a percentage of global gross domestic product Increased, poverty declined, and there was free movement of goods and services and even people, but all this is about to end. However, he hoped that other forces could also be active in the coming years, which may provide favorable air.
India and growth rate
In the financial year 2025-26 (April 2025 to March 2026 financial year), the growth rate of 6.3 percent to 6.8 percent can be compared to an estimated 6.4 percent increase in the current year ending 31 March. This is the lowest since epidemic. The IMF has estimated that by FY 2028 India will become a 5 trillion US dollar economy and by financial year 6.3 trillion will become a US dollar economy.
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