Supply-side measures can’t do much to revive growth in the short run. We need a fiscal boost aimed at stimulating demand
There is a downturn in India’s economy that can no longer be ignored or wished away. Gross domestic product (GDP) growth in the first quarter of 2019-20 at 5% was the lowest in six years, even less than the last quarter of 2018-19 at 5.8%, which was the lowest in five years. The Reserve Bank of India (RBI) has reduced its 2019-20 growth forecast from 6.9% to 6.1%.
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