3 min read.Updated: 29 Aug 2019, 09:15 PM ISTHimanshu
The government’s prognosis overlooks the rural stress that is at the heart of the economy’s troubles
Last week saw a flurry of activity from the government aimed at reviving the economy. So far, it was in denial, but it has now woken up to the economic crisis that is spreading like wildfire. The vice-chairperson of NITI Aayog termed the crisis the worst since independence. Several members of the economic advisory council to the Prime Minister also expressed their concerns. As a first step, the recognition by New Delhi that all is not well is welcome. Most likely, the quarterly gross domestic product data to be released on Friday would confirm that the slowdown which set in two years ago is continuing.
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