Economists have been moderating their growth forecasts as the second phase of Covid has been running its course. Most commentators are agreed that the economy should be back at year-end to where it was two years ago. The question is what will happen beyond that. Should one expect a return to rapid economic growth, or is the country headed for medium-term disappointment? For an answer, one has to dig under recent growth rates.
First, as is known, the system was slowing even before Covid hit, growth having halved from 8 per cent in the peak of the Modi years
First, as is known, the system was slowing even before Covid hit, growth having halved from 8 per cent in the peak of the Modi years
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