GDP growth 6.5 per cent hints slowdown?
Is the 6.5 % GDP growth of the Indian economy an eye-opener for the Modi government? Is it a big question mark on the economic reforms taken by the BJP government at the helm? The questions seem to have an obvious yes but that is not the case in reality.
Low GDP does not mean that Indian economy is sinking or that there is any immense danger to the economy but it is just an indicator that the health of the economy is not so good. Repeat ‘not so good’ and not worse or beyond reasonable recoverable stage. Its just that the economy has slowed down a bit and is not as good as it used to be earlier.
As per the analysts, the present low GDP growth is the worst in during the tenure of the present BJP govermnet but this does not mean that economy would not improve. Analysts believe that the key indicators of the economy are still positive and the economy shall fight back and return to the normal in some time.
The present low performance of the economy has also put pressure on the Modi government which is soon to present its budget. If sources are to be believed, expect some good things happening in this budget. It seems that the slowdown is getting the Indian economy ready for a great start in the next fiscal.
Rahul calls GDP – Gross Divisive Politics and Jaitley a ‘genius’
On the other hand, the slow growth has also invited Congress president Rahul Gandhi’s comments as he terms Modi government finance minister Arun Jaitley as a ‘genius’ and GDP as ‘Gross Divisive Politics.’
Rahul Gandhi @OfficeOfRG
FM Jaitley’s genius combines with Mr Modi’s Gross Divisive Politics (GDP) to give India:
New Investments: 13 year ⬇
Bank credit Growth: 63 year ⬇
Job creation: 8 year ⬇
Agriculture GVA growth: 1.7%⬇
Fiscal Deficit: 8 year?
Stalled Projects ?
When the global economy slowed down, India continued to grow at a steady rate. We continued to grow as the fastest economy for three years: Finance Minister Arun Jaitley in Delhi
When Manmohan Singh brought some reforms in 1991-92, our Gross Domestic Product (GDP) was reduced to 1.1 In comparison to that, it’s an achievement that even after huge reforms like GST & demonetisation, our GDP didn’t face that reduction: Rajiv Kumar,NITI Aayog VC