The official GDP data released on May 29 confirm a double whammy for the Indian economy.
The first is a sharp slowdown in economic growth in the January-March quarter to 3.1 percent (lowest in 44 quarters) and for the full year to 4.2 percent (lowest growth in 11 years). Growth was 6.1 percent in 2018-19.
The second bit of bad news is that the fiscal deficit, or the difference between total income and total expenditure of government, ballooned by a huge margin to 4.6 percent in fiscal year 2020 compared with the revised budget estimate of 3.8 percent.
https://www.moneycontrol.com/news/business/economy/decoding-gdp-data-indias-economy-suffered-a-double-whammy-last-fiscal-and-the-worst-is-yet-to-come-5336501.html
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The official GDP data released on May 29 confirm a double whammy for the Indian economy. The first is a sharp slowdown in economic growth in the January-March quarter to 3.1 percent (lowest in 44 quarters) and for the full year to 4.2 percent (lowest growth in 11 years). Growth was 6.1 percent in 2018-19. The second bit of bad news is that the fiscal deficit, or the difference between total income and total expenditure of government, ballooned by a huge margin to 4.6 percent in fiscal year 2020 compared with the revised budget estimate of 3.8 percent. https://www.moneycontrol.com/news/business/economy/decoding-gdp-data-indias-economy-suffered-a-double-whammy-last-fiscal-and-the-worst-is-yet-to-come-5336501.html
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