Recession Reality Check: Not recession yet but Indian economy isn't far from it either
All the key economic indicators have been on a downward swing for quite some time. If this slide is not checked India may slip into recession sooner than later. In this first part of a two-part series, the article looks at what the major economic indicators are telling about the state of Indian economy
- Dec 4, 2019,
- Updated Dec 5, 2019 5:48 PM IST
Finance Minister Nirmala Sitharaman made a dramatic statement at the Rajya Sabha on November 27: If you are looking at the economy with a discerning view, you see that growth may have come down but it is not a recession yet, it will not be a recession ever.
Two days later, the National Statistical Office (NSO) released the GDP estimates for the Q2 of FY20 showing a sixth straight fall in the quarterly GDP growth - from 8.1% in Q4 of FY18 to 4.5% for Q2 FY20 - as shown in the graph below.
Finance Minister Nirmala Sitharaman made a dramatic statement at the Rajya Sabha on November 27: If you are looking at the economy with a discerning view, you see that growth may have come down but it is not a recession yet, it will not be a recession ever.
Two days later, the National Statistical Office (NSO) released the GDP estimates for the Q2 of FY20 showing a sixth straight fall in the quarterly GDP growth - from 8.1% in Q4 of FY18 to 4.5% for Q2 FY20 - as shown in the graph below.