The gross domestic product (GDP) data released for the second quarter of the fiscal year 2019-20 (Q2FY20) sadly reaffirms that India’s economy is in need of serious repair. Despite the government pushing its spending up by a strong 15.6 per cent this quarter, our economy registered a very disappointing real growth of just 4.5 per cent. Worryingly, investments recorded only 1 per cent growth, and manufacturing shrank by 1 per cent.
At just 6.1 per cent, nominal growth was the lowest of this GDP series. India is in the midst of an investment and consumption slump. There is ...
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