‘All-round mismanagement by govt led to slowdown’: Manmohan Singh

Former PM Manmohan Singh said the state of India's economy is 'deeply worrying'. He said, “The state of the economy today is deeply worrying. The last quarter's GDP growth rate of 5% signals that we are in the midst of a prolonged slowdown. India has the potential to grow at a much faster rate but all-round mismanagement by the Modi government has resulted in this slow down.” Data revealed that India's economy grew at its slowest pace in over six years in the June quarter. His comments come days after finance minister Nirmala Sitharaman announced reforms in banking sector.