Minus 23.9 per cent. The figures are out. The reality is stark. The economy is shrinking, and there doesn’t seem to be a coherent plan of action to bring us out of the economic vandalism wrought by a combination of demonetisation, botched GST implementation, and the Covid lockdown. A terse announcement from the National Statistical Office said , “GDP at Constant (2011-12) Prices in Q1 of 2020-21 is estimated at ` 26.90 lakh crore, as against ‘35.35 lakh crore in Q1 of 2019-20, showing a contraction of 23.9 per cent as compared to 5.2 per cent growth in Q1 […]
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