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India is in the midst of an investment and consumption slump, says expert

There is pressure on policy makers for further fiscal and monetary support to the economy. However, focusing primarily on these would be a mistake on several counts

Ananth Narayan 

Ananth Narayan

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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First Published: Sat, November 30 2019. 01:04 IST
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