3 min read.Updated: 17 Dec 2020, 09:32 PM ISTHimanshu
Low incomes and poor farm-gate prices capture the reality of relentless distress in our hinterland
National accounts data released last month estimated that the economy has contracted by 7.5% in the second quarter of 2020-21 compared to last year. For many, this was a sign of recovery, given expectations that India’s gross domestic product (GDP) would contract by around 10%. It is, no doubt, an improvement from the 23.9% GDP decline in the first quarter. Much of the euphoria over this so-called recovery was attributed to a revival of the rural and agrarian sectors.