‘See crisis coming in next six months in a big way’

Union Minister Subramanium Swamy, who is known for never mincing words, has now made a startling claim that in six months' time, India will be eye-to-eye with an economic crisis.

He said this at the launch of his book 'Reset: Regaining India’s Economic Legacy. He said, "I am sure that the crisis is coming which will be probably coming in in the next six months in a big way." This is mainly due to the collapsing institutions and no rectification in this regard, he added.

He further said that India has the potential and capabilities to overcome the crisis, if and when it strikes. "I am not worried about the future. The way to go is to consider a comprehensive macro model for India which will make every sector grow."

At the book launch which was hosted by Moneylife Foundation, this BJP leader asserted that India is a country that is blessed with enough talent to rise up in case of crisis. He mentioned the food crisis in 1960s and foreign exchange crisis in 1990 and how India came out of it. "If there is a crisis tomorrow don't be disappointed that it is come, just pray that it comes quickly so that we can rise to act," he added.

Swamy said India is the only country that is predicted to fall apart but it has never fallen apart. He attributed this to India's way of living. "We have been a spiritual society along with our materialistic prosperity."

He urged that India should balance material prosperity with spiritual advancement.

Citing civilisations such as Egypt, Greece, Babylon, others that disappeared, Swamy said, “all these civilisation disappeared as they were single-dimensational materialistic society. India is only one of the 45 nations of ancient civilisations that continue to survive."