The country is facing an existential crisis as its GDP growth has been on a decline, with growth slowing to just 0.4% in the last two quarters.
This is the first time in the country’s history that growth has slowed to less than 0.5%.
The situation is similar to the one in India’s biggest cities, where the average growth rate of the last 10 years has been less than 1% according to the Indian Statistical Institute (ISI).
The economic crisis is compounded by a massive budget deficit, which has crippled the economy.
This has caused many of the poorest Indians to take to the streets in protest.
In an attempt to calm the situation, the government is planning to bring the budget deficit under control by the end of the year, and it has also proposed measures to raise the retirement age from 60 years to 70 years.
But many in the government have expressed fears that this could destabilise the economy, and in fact the IMF has already warned that a prolonged recession could hit India harder than any other developed country.