Business Standard

Letter to BS: Sitharaman's remark on Indian economy doesn't hold ground

Corporations across sectors are facing the heat due to low demand from consumers

Nirmala Sitharaman

Nirmala Sitharaman

Business Standard
This refers to “Slowdown, yes, but no recession: Sitharaman” (November 28). Finance Minister Nirmala Sitharaman’s remark on the Indian economy doesn’t hold ground. A technical overview of the slowdown and recession belies the dictum. Where slowdown denotes a decrease in pace of GDP growth constraining production and profits of the company vis-a-vis last year, recession is marked by low consumer spending due to the shaken confidence of consumers that permeates into low production leading to lay-offs and unemployment and decrease in GDP. The latter is true in the Indian context where our GDP growth has fallen in the last two

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First Published: Nov 28 2019 | 9:55 PM IST

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