Economy In ICU: Will Government's Growth Boosters Work?
With the latest GDP numbers out at 4.5 per cent, the lowest since March 2013, it is clea that India's economy is in deep trouble. Car sales have gone down, factory output has shrunk, and exports have also slumped and the government's own data shows that rural spending has gone down, data the centre conveniently distanced itself from a couple of weeks ago. The government has tried to take steps to fix that in recent months and has slashed corporate taxes, set up a special real-estate fund, merged banks and announced the biggest privatization drive in more than a decade. While authorities are committed to doing more, the policy room may be narrowing. On The Big Fight , we ask with the economy in ICU, will government's growth boosters work?
