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

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