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Economic shudders & revival strategies

Discarding attention-grabbing slogans, the government needs to aim for real GDP growth of 8 per cent and higher

Topics
public sector banks | India GDP growth | Economic reforms

Jaimini Bhagwati 

Jaimini Bhagwati

The central government ought to be red-faced about the 5 per cent GDP growth rate for the first quarter of 2019-20. In 2014, the Bharatiya Janata Party-led government had inherited public sector banks (PSBs) weighed down with non-performing assets.

On the positive side, international oil prices have been at relative lows and domestic inflation has been muted for the past few years. Partisan supporters of the government explain away the slowdown through unsolicited Whatsapp messages, which gush that India’s 5 per cent growth is high compared to growth rates in developed countries. ...

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First Published: Wed, September 25 2019. 23:27 IST
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