The Indian economy is currently undergoing dense fog. Credit Suisse has said this.

Credit Suisse India Equity Strategist Nilkant Mishra told reporters today that due to various structural reforms including GST, there has been a situation of intense uncertainty over the near future, financial health, inflation, currency and banking system.

Neelkanth Mishra said that due to uncertainty over the macro economic front, the Indian economy is passing through a dense fog. This will affect the investment, which will bring down the growth, the GDP will also decrease, and the projections for the next financial year will also be affected.

Mishra said that there has been a lot of structural changes in the Indian economy, such as the number of lakhs of workers lost their jobs in the agricultural sector, GST has been implemented, Real Estate Regulation and Development Law and Bankruptcy Code have been implemented. These are breaking the vicious circle in which the economy was stuck.

The company of the financial services sector concluded that the government spending increase is rapidly declining, while the income growth of half the population is very weak.

He said, "Despite the good monsoon and activities in the agricultural sector increased in 2016-17, due to the softening of the prices of food grains, the gross value of area production has been weakening."

When asked about the reduction in interest rates by the Reserve Bank, Mishra said that the economy is in a time of uncertainty and there will be no cut in interest rates for the next three-four months. We will see meaningful cuts in interest rates in the next nine to 12 months.

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