|PM Modi Ready to Rescue Ailing India Economy|
|by Tom McGregor||Mon, Jun 2, 2014, 09:32 PM|
Indian Prime Minister Narendra Modi is pledging to cut taxes, reduce government spending and slash red tape for businesses.
According to the BBC News, "India's economic growth has remained subdued, due largely to a slowdown in the manufacturing sector, official figures have shown."
India's economy is stryuggling and PM Modi will introduce more free market reforms to boost the economy.
As reported by the BBC News, "The economy grew at an annual rate of 4.6% between January and March, below analysts' forecasts and the same pace as the previous quarter. For the full 2013-14 financial year, growth was 4.7%, the second straight year of sub-5% expansion."
Meanwhile, U.S. President Barry Obama has taken the opposite approach and the US GDP has plunged over 1 percent for the first quarter of 2014.
To read the entire article from the BBC News, link here:
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