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03 SEP,2019 | MEDC
The current slowdown has lasted for over 18 months and it is the longest incidence of economic sluggishness since 2006. While fertilizer sale and rail passenger traffic were the only indicators that fell towards the end of 2018, several key economic variables such as agricultural credit, rural wage growth and the imports of electronic goods have been in declining mode since 2017. With India’s growth facing both structural and cyclical issues, there is probably more pain in store for the economy. According to some experts, the breadth and depth of policy easing has been limited in its scope compared to the previous slowdowns in the Indian economy. The only way out is to continue the reform process aggressively to revive the animal spirits of the economy, thus revitalizing entrepreneurial energies.
*Photo Credit: Google
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