Unemployment is high, informal sector is in shambles: Manmohan Singh

While addressing at the 'Pratheeksha 2030' Summit on in the national capital on March 02, former prime minister Manmohan Singh said, "Temporary measures by the Government of India and Reserve Bank to paper over the credit problems can not blind us to the looming credit crisis ahead that could affect the small and medium sector." "Unemployment is high and the informal sector is in shambles, a crisis precipitated by the ill-considered demonetisation decision taken in 2016," he added.

"In Kerala and many other states, public finances are in disarray with states having to resort to excessive borrowing, which creates an intolerable burden on future budgets," Manmohan Singh further stated.