The Indian economy contracted by a massive 24 per cent in the first quarter of the current financial year and the recovery is expected to be slow. Economists are now arguing that India's potential growth has declined significantly.
Slower growth in the coming years would dent the economic record of the present government. Business Standard opinion pieces for the day, among other things, talk about the economic record of the Modi government.
Chief ministers deal with the simpler tasks, whereas even politically successful prime ministers can fail when confronted with the interplay of complicated levers that steer economic activity, writes T N Ninan
India is facing intense, multiple, intertwined crises and needs political space and confidence. It is up to Modi and his government to create them, writes Shekhar Gupta
If this virus’ success in countries depends on there being an under-resourced administration, lack of trust in the state, poor social cohesion, and relatively low levels of civic discipline, perhaps it is fitting that we will almost certainly exit the pandemic with the highest number of cases, writes Mihir S Sharma
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