Slowdown, then pandemic

The National Statistical Office last Friday released its provisional estimates of gross domestic product (GDP) for the fiscal year 2019-20, as well as its quarterly estimates of GDP for the last quarter, January-March, 2019-20. The headline estimate, for the year 2019-20, is low by Indian standards but not as low as many feared: Growth in 2019-20 at constant prices would be, according to the statisticians, 4.2 per cent, as distinct from the over 6 per cent growth registered in 2018-19. The slowing in nominal GDP growth is even sharper. The quarterly numbers were being carefully watched t.....

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