Needed: Policy debates

The govt should have a wider discussion on the way forward

The contraction in industrial production narrowed in June and the index of industrial production registered a decline of 16.6 per cent, compared with 33.8 per cent in May and 57.6 per cent in April. The relaxation in industrial activity resulted in a pickup on a month-on-month basis. However, it remains to be seen if the momentum can be sustained as some high-frequency indicators have already started showing signs of faltering. More broadly, the fact that the Indian economy was slowing with stretched public finances and a struggling financial system even before the pandemic could make sustainable recovery more difficult.

Since the