As expected, a lot of people have been giving a lot of explanations for the slower than expected economic growth in the first quarter of this financial year (Q1FY25), and a lot of those explanations point the finger at the model code of conduct (MCC), which was in force because of the parliamentary elections this year. Ostensibly, that slowed government expenditure and pegged back the growth in the gross domestic product (GDP).
Is that all there is to it? Or, are there more nuances?
There are formidable voices expressing the view. Several renowned experts and agencies, including