Bleak Expectations Of A Revival

As expected, India’s fourth quarter Gross Domestic Product (GDP) has slowed down to 3.1 per cent, lowest in last 11 years, data released on the last Friday of month revealed. This number fully reflects the slowdown, which the economy has been going through in the last two years and it also amply highlights the importance of a demand-led recovery for sustainable future growth. This number is more important than a quarterly number. Because this number would be the base against which the impact of the lockdown and consequent demand destruction, loss of productivity and employment would be mapped. What could be the fall from this level is the question that would be asked.  In this backdrop, we need to dissect the much talked about “Atmanirbhar Bharat” package worth ?20 lakh crore announced by Prime Minister Narendra Modi on May 12 and need to do thread-bare analysis...