Citizenship Amendment Act a gross miscalculation: CLSA
Mumbai, Dec 27:
Global brokerage firm CLSA in a recent report said that the powerful public backlash against the Citizenship Amendment Act (CAA) will worsen demand prospects in the economy.
Terming it a "gross miscalculation", the brokerage firm said the controversial bill may well be the government's "devious strategy of deflecting public concerns about job and income prospects…"
"There is nothing good, in our view, that can be said about that can be said about the Citizen Act and National Citizen Act and National Citizens Register," CLSA said, according to a Business Insider India report.
CLSA's concerns gain significance as India is currently witnessing a sharp price hike and steep fall in economic activity simultaneously. Former Chief Economic Advisor, Arvind Subramanian, said that the Indian economy is in the midst of a "Great Slowdown".