New Delhi: Economic experts have raised alarms over India’s economic growth, noting a significant slowdown that could expose underlying structural flaws despite the Bharatiya Janata Party’s promotion of economic achievements under Prime Minister Narendra Modi.

According to a statement by Kashmir Media Service, India’s economic growth is expected to decelerate to 6.4% in the fiscal year 2024-25, marking the slowest pace in four years. This slowdown is attributed to fiscal mismanagement, dwindling investments, and weakening demand, prompting skepticism about Modi’s economic strategies.

Economists have highlighted that despite the government’s claims of economic growth, real wages have not improved, and agricultural incomes are declining. This has led to widespread protests by farmers, particularly in the states of Punjab and Haryana, who are struggling with the economic policies in place.

The Indian rupee has depreciated by 3% against the US dollar, and the country’s foreign reserves have decreased by $65 billion, indicating a lack of confidence among investors. Youth unemployment remains a pressing issue, with nearly 46% of individuals aged 20-24 currently without jobs.

Additionally, small businesses are facing difficulties as major industrialists, favored by Modi’s administration, secure government-backed contracts, leaving little room for smaller enterprises to thrive.

Experts emphasize that without significant structural reforms, India risks becoming mired in increasing inequality, stagnant industrial growth, and rhetoric that fails to address the economic realities faced by its citizens.