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.
Bu hikaye India Today dergisinin May 20, 2019 sayısından alınmıştır.
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Bu hikaye India Today dergisinin May 20, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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