It may have taken the finance ministry’s Monthly Economic Report (MER) of May 1 to confirm India’s economic slowdown, but telltale signs have been visible for a couple of quarters now.
At least two of the four economic engines—public investment (government investment in infrastructure and development) and internal consumption (goods and services consumed)—were still firing in the first half. The other two—external consumption (exports) and private investment—had gone bust years ago.
The first two engines were firing because, one, the Centre was still pumping resources into infrastructure-building. Two, despite the shocks of demonetisation and the Goods and Services Tax (GST), at least some parts of the domestic consumption economy, such as auto, consumer durables and FMCG, continued to grow at a healthy 15-16 per cent.
This story is from the May 20, 2019 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 20, 2019 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Killer Stress
Unhealthy work practices in Indian companies are taking a toll on employees, triggering health issues and sometimes even death
Shuttle Star
Ashwini Ponnappa was the only Indian to compete in the inaugural edition of BDMNTN-XL, a new international badminton tourney with a new format, held in Indonesia
There's No Planet B
All Living Things-Environmental Film Festival (ALT EFF) returns with 72 films to be screened across multiple locations from Nov. 22 to Dec. 8
AMPED UP AND UNPLUGGED
THE MAHINDRA INDEPENDENCE ROCK FESTIVAL PROMISES AN INTERESTING LINE-UP OF OLD AND NEW ACTS, CEMENTING ITS REPUTATION AS THE 'WOODSTOCK OF INDIA'
A Musical Marriage
Faezeh Jalali has returned to the Prithvi Theatre Festival with Runaway Brides, a hilarious musical about Indian weddings
THE PRICE OF FREEDOM
Nikhil Advani’s adaptation of Freedom at Midnight details our tumultuous transition to an independent nation
Family Saga
RAMONA SEN's The Lady on the Horse doesn't lose its pace while narrating the story of five generations of a family in Calcutta
THE ETERNAL MOTHER
Prayaag Akbar's new novel delves into the complexities of contemporary India
TURNING A NEW LEAF
Since the turn of the century, we have lost hundreds of thousands of trees. Many had stood for centuries, weathering storms, wars, droughts and famines.
INDIA'S BEATING GREEN HEART
Ramachandra Guha's new book-Speaking with Nature-is a chronicle of homegrown environmentalism that speaks to the world
