GDP data points to a serious slowdown

Clears the confusion about the real health of Indian economy

For the second time in a row, economic growth data released by the Central Statistics Office (CSO) on Wednesday have surprised everyone. On the face of it, there was not much change in the full-year provisional estimates for gross domestic product (GDP) and gross value added (GVA) for the previous financial year (2016-17). The Second Advance Estimates released by the CSO in February pegged GDP growth at 7.1 per cent and GVA growth at 6.7 per cent. In that regard, the latest estimates, after incorporating the fourth-quarter data — GDP at 7.1 per cent and GVA at 6.6 per cent