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Dom's Take: Fall in GDP: Why blame corona?

By DOMINIC XAVIER
September 03, 2020 16:55 IST
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India's GDP numbers for the April-June 2020 quarter have taken a severe beating.

GDP shrank by a shocking 23.9%.

Though this is the steepest fall in GDP numbers recorded in 41 years, India's GDP numbers have been on the decline side for several quarters.

Experts attribute the fall in GDP numbers not only to demonetisation and faulty implementation of the GST, but the government's failure to manage the financial sector crisis.

Many believe this to be COVID-19 related, but the contraction in the economy has occurred since 2016-2017.

Columnist Aakar Patel wonders if the government has given up its focus on economic growth because it it not something Prime Minister Modi has been able to fully understand.

Dominic Xavier asks if it is right to blame coronavirus and the lockdown for India's economic decline.

 

Feature Presentation: Aslam Hunani/Rediff.com

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