For the past few quarters, the Indian economy has been witnessing slowdown and it seems it will face several more risks in the near future, with one of the major factors being drop in private consumption, according to the Reserve Bank of India (RBI).

The RBI in its Monetary Policy Report, October 2019, has also said that a combination of domestic and global headwinds has depressed economic activity in the country.

“A combination of domestic and global headwinds has depressed economic activity, especially in terms of aggregate demand. The near-term outlook of the Indian economy is fraught with several risks,” said the report.

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