Former Finance Secretary Subhash Chandra Garg on November 29 shared his views on GDP growth rate slump to 4.5 percent. He said that the falling in the GDP is not surprising rather it is expected as the index of industrial production, core industries, credit growth were showing that the growth in this quarter will be slow. He said that more surprising and concerning is the formation of cross fixed capital investment slump to 0.9 percent. Second thing is nominal growth of GDP is 6.1 percent which can haunt India’s dream to become 5 trillion dollar target in 2024-25.
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