Mint Wide Angle: Govt consumption can't save Q2 GDP

Second quarter GDP growth has dropped to just 4.5%, the second lowest rate since 2013. All three pillars of the economy - investment, jobs & consumption - are down. The only thing that has grown significantly is government consumption. Without that, GDP growth was just 3.1%, the lowest growth in private demand in the past 8 years. In the absence of private investment & dropping private consumption, only govt capital expenditure can act as a booster shot for the economy.