3 min read.Updated: 16 Jan 2020, 10:08 PM ISTHimanshu
The government’s inordinately large food stockpiles have resulted in an artificial market scarcity
On 7 January, the ministry of statistics released India’s advance estimates of national income for 2019-20, pegging the economy’s growth rate this financial year at 5%. Based on data available for the first two quarters, this seems an overestimate. Most indicators suggest that actual growth may be lower than 5%. This is bad news, especially since there is no hope of an economic revival in the near future. What is likely to create further problems is rising inflation.