No disguising the economic slowdown now. Take a look -Maitressh Ghatak
Only last spring, as the country was gearing up for elections, we were hearing about a growth rate of 7 per cent, the highest in the world. Various new statistics were trotted out to suggest that the growth rate since 2014 had been higher than that under the previous regime. Those of us who looked at other economic indicators such as the unemployment rate and growth in tax revenue sensed the clear signs of the onset of an economic slowdown, but were dismissed as compulsive contrarians.
Yet, as winter approaches, the debate is no longer about how high the growth rate is, but about whether we are in a structural recession or a cyclical one, with clear signs of growth dropping sharply across sectors. Even the government's spokesmen and sarkari economists are not singing the "all izz well" tune.
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