In India, the Union Statistics Ministry released the GDP figures on Monday - which is 23.9 percent.

This is considered to be the biggest historical decline in the Indian economy and is attributed to the Corona virus and the nationwide lockdown.

News of this new negative GDP figure of India, which was once the fastest growing economy in the world, has been given coverage by various newspapers and media houses around the world.

The US media house CNN has published a news report titled 'Indian economy is the fastest sinking record'.

In this news, Sheelan Shah of Capital Economics says that this will lead to more unemployment, failure of companies and a deteriorated banking sector which will outweigh investment and consumption.

In Japan's business newspaper Nikkei Asian Review, Ritesh Kumar Singh, former assistant director of the Indian Finance Commission, wrote an article titled, 'Narendra Modi shakes India's economy'.

It has been written that despite the business-supported image of Indian Prime Minister Narendra Modi, he is proving unfit to handle the economy, the dream of making the economy a $ 5 trillion (trillion) economy by 2025 is no longer fulfilled.

Coming from India's most modern industrial city, Prime Minister Modi promised that he would improve the economy and create 1.2 crore jobs every year. After a wave of optimism from the office for six years, the Indian economy has fallen into disrepair. In which GDP has fallen for the first time in four decades and unemployment is at its peak so far. Large engines of growth, consumption, private investment or exports have stalled. Above all, the government does not have the capacity to come out of the recession and spend it. ''

The article states that the only omission of Prime Minister Modi is not just to handle the economy but he has failed in the matter of ending corruption.

Modi had announced the disastrous demonetisation aimed at ending black money. This created an atmosphere of anarchy, the scheme devastated millions of farmers and owners of medium and small industries. However, his supporters said that all this is for a short time and it will benefit further in fighting corruption.

In this article, apart from GST, FDI, increase in import duty on 3600 products and Prime Minister Modi's belief in only a few bureaucrats have been explained in this article.

The American newspaper The New York Times has also given this news its place.

The Indian economy has been the worst of the world's top economies. While the US economy has fallen by 9.5 percent in the same quarter, the Japanese economy has recorded a decline of 7.6 percent.

Waste of economy more than these figures? The newspaper The New York Times writes that India has a different picture in terms of economy figures because most people here are engaged in 'irregular' employment in which there is no written agreement for work and often these people are outside the purview of government. , These include rickshawlers, tailors, daily laborers and farmers.

Economists believe that this part of the economy has to be ignored in official figures, while the total loss may be even greater.

The newspaper further writes that the economy of a country with a population of 130 crores was growing at a growth rate of 8% only a few years ago, which was one of the fastest growing economies in the world.

But it began to decline before the corona virus epidemic. For example, in August last year, car sales fell by 32%, the highest in two decades.

Data on Monday showed consumer spending, private investment and imports were severely affected.

Areas such as trade, hotels and transport declined by 47%. India's construction industry, once the strongest, has shrunk to 39%.

The newspaper writes that only good news came from the agricultural sector, which has developed from 3% to 3.4% due to good monsoon rains.

Prime Minister Modi said that he wants to make the Indian economy an economy of 5 trillion USD by 2024. There is a general election in 2024 and he may contest for the third time. India's GDP in 2018 was 2.719 trillion USD which was the seventh largest economy in the world after USA, China, Japan, Germany, England and France. However, many economists believe that India's economy will shrink by 10%. ''

The Financial Times newspaper is titled 'Indian economy shrunk by one quarter'.

The newspaper writes that India's economy was already in a shambles before the corona virus hit, but the world's biggest lockdown had a major impact on industries such as manufacturing and construction, and business activities were virtually stalled.

The newspaper wrote that RBI Governor Shaktikanta Das had said with great confidence during the interview that the RBI could protect the economic stability or banking system from the brunt of the pandemic, speculating a next level of economic stimulus.

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