Economic shudders & revival strategies

Discarding attention-grabbing slogans, the government needs to aim for real GDP growth of 8 per cent and higher

The central government ought to be red-faced about the 5 per cent GDP growth rate for the first quarter of 2019-20. In 2014, the Bharatiya Janata Party-led government had inherited public sector banks (PSBs) weighed down with non-performing assets. On the positive side, international oil prices have been at relative lows and domestic inflation has been muted for the past few years. Partisan supporters of the government explain away the slowdown through unsolicited Whatsapp messages, which gush that India’s 5 per cent growth is high compared to growth rates in developed countries. Such growth rate comparisons with G7 countries are