-The Hindu An immediate stimulus is needed to regain the momentum to get India back to 8% growth The government’s move this past week to publish economic data for the April to June quarter of this year needs a look. The real growth of GDP, i.e. after removing the impact of inflation, was only 5.7%, much lower than expected. For the past six consecutive quarters, the growth rate has gone down steadily,...
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Downturn in India's growth 'very worrying': Kaushik Basu
-PTI Washington: Basu said from 2003 to 2011, India was growing typically over 8 per cent per annum. The year of global crisis, 2008, it dropped briefly to 6.8 per cent, but over 8 per cent growth had become the new norm for India. The downturn in India’s growth is “very worrying”, World Bank’s former chief economist Kaushik Basu said, underscoring that this is the “hefty price” the country had to pay...
More »Achchhe din's worst day
-The Telegraph The Central Statistics Office reported today that economic growth sank to a three-year low at 5.7 per cent, striking at the core of Prime Minister Narendra Modi's promise of achchhe din. The sharp slowdown is a result of the two biggest disruptive measures taken by the Modi government: demonetisation and the goods and services tax. The double whammy has badly crimped factory output and squeezed the Services Sector. The GDP growth...
More »At 5.7%, Q1 GDP growth slumps to 3-year low -KR Srivats
-The Hindu Business Line Uncertainty over GST and related de-stocking hit industrial sector in Q1, says Anant New Delhi: Three key macro-data points released on Thursday presented a worrying picture of the economy, adding credence to the Reserve Bank of India Monetary Policy Committee’s recent fears of slower growth. The keenly-awaited first-quarter GDP growth number came in at 5.7 per cent, a three-year low and far lower than the 7.9 per cent GDP...
More »The spectre of deflation -Himanshu
-Livemint.com It is not just the low inflation reported in June which confirms a declining demand but also the macro fundamentals of the economy which belie any optimism of 7%-plus growth The second volume of the Economic Survey was presented on the last day of the monsoon session of Parliament on 11 August, preventing Parliament from holding a discussion on the state of the economy as outlined by the report. The second instalment,...
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