The recent dip in gross domestic product (GDP) growth is being taken seriously in all quarters. The myth of a high-growth trajectory is being challenged. Policymakers, however, are attributing this fall to demonetisation and the goods and services tax (GST), and reluctantly, a few to decline of exports. They predict that the growth will pick up next quarter to over 7 per cent without any basis, since mathematical modelling and forecasting tools have long been abandoned by the government. Also, over 8 per cent growth has only been achieved during the short 2003-2007 period, when the world economy was buoyant,
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