4 min read.Updated: 18 Jul 2019, 11:26 PM ISTHimanshu
Wages under the programme have been kept low, which has resulted in fewer workers opting for it
There is now a plethora of evidence that the economy has been cooling down over the last three years. Official data was slow to pick up the trend, but data from private sources on indicators such as sales of consumer durables and automobiles clearly show that it is largely a result of declining demand, particularly in rural areas. The Union budget presented on 5 July was expected to address some of these concerns. However, it was a missed opportunity, with no effort being made to increase spending in rural areas, except for the electoral promise of cash transfer to farmers.