India's Economic Crisis Deepens Under Modi India, once hailed as a rising economic power, is struggling to cope with its deepening financial crisis under Prime Minister Narendra Modi.
The country's economic woes have been exacerbated by stagnant growth, soaring inflation, widening fiscal deficits, and mounting debt.
The Rise of Inflation: A Major Concern Inflation has long plagued India, but under Modi's watch, it has become a full blown crisis. Consumer prices rose at an alarming 6. 3% in March, the highest level since 2014.