Sliding economic growth: What is to be done?
The government must turn around the appreciation of the exchange rate, and bite the bullet on the bad loans problem of public sector banks
Policymakers and pundits alike have been unpleasantly surprised by the sharp decline in gross domestic product (GDP) growth in the first quarter of 2017-18 (Q1 2017-18) to only 5.7%. The surprise is unwarranted because quarterly growth has in fact been steadily declining from a peak of 7.9% recorded in the first quarter of 2016-17 (Q1 2016-17).
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