Former PM Manmohan Singh suggests five steps to tackle slowdown

Mumbai: Five corrective steps can reverse the economic slowdown, which is cyclic as well as structural primarily because of the demonetisation of higher value currency notes and implementation issues with the Goods and Services Tax, economist and former Prime Minister Manmohan Singh said in an interview to a daily newspaper.

The first step prior to implementing the five steps is to accept that the economy is in crisis, he said in an interview in Hindi with Dainik Bhaskar.

The government must listen with open mind to all stakeholders and experts, he said adding that he does not perceive any targeted approach by the Narendra Modi-led Bharatiya Janata Party (BJP) government on this subject.