In the first five years after the Modi-government came to power, India’s GDP grew at an annual rate of 6.7%. This should have been mirrored by the growth rate of key sectors such as electricity consumption, auto sales, bank credit, home sales, industrial output, among others. However, each of these grew at a significantly lower pace than our GDP. This suggests that India’s fabled GDP growth rate is more a mirage than reality.
India’s GDP overestimated? With Aunindyo Chakravarty
India’s GDP growth has not been matched by a similar growth in key sectors of the economy. This indicates that India’s fabled GDP growth rate is more a mirage than reality, says senior journalist Aunindyo Chakravatry