The new government’s immediate priority will be to examine why gross domestic product (GDP) growth has declined so rapidly from 8.2% in April-June 2018 to the 6.2% in April-June 2019 that has been forecast by research analysts in banks and credit rating agencies.
In recent years, one has not witnessed a two percentage point decline in GDP within the span of a few quarters. So what is really going on?
After weathering the twin shocks of demonetisation and a messy implementation of the Goods and Services Tax through 2017-18, economists had heaved a sigh of relief when there was some consumption-led bounce-back in April-June 2018, when GDP grew at 8.2%.
https://thewire.in/political-economy/narendra-modi-government-india-economy-gdp
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The new government’s immediate priority will be to examine why gross domestic product (GDP) growth has declined so rapidly from 8.2% in April-June 2018 to the 6.2% in April-June 2019 that has been forecast by research analysts in banks and credit rating agencies. In recent years, one has not witnessed a two percentage point decline in GDP within the span of a few quarters. So what is really going on? After weathering the twin shocks of demonetisation and a messy implementation of the Goods and Services Tax through 2017-18, economists had heaved a sigh of relief when there was some consumption-led bounce-back in April-June 2018, when GDP grew at 8.2%. https://thewire.in/political-economy/narendra-modi-government-india-economy-gdp