07 Oct GDP Growth at 5.7% – Is Indian economy approaching doomsday?
Posted at 08:39h in Business, Economy 0 CommentsEver since GDP Growth rate for Q1 of FY18 was announced on 1st September, 2017 there is nonstop discourse on the bad shape of Indian economy. Call it discourse or whining, everyone has an opinion on this. P. Chidambaram tweeted: “Our worst fears have come true. Sub-6% growth is a catastrophe. The slide in economy continues. Slow growth, low investment and no jobs. An explosive cocktail.” People who have to be taken seriously – Yashwanth Sinha, Subramanian Swamy, Gurumurthy – have complaints of varying degrees. Subramanian Swamy says economy is in tailspin and says according to “Samuelson-Swamy” theory one needs to search growth. Gurumurthy says GST, DeMo, NPA, etc are the problems and economy is slipping.